New Application Deadline – September 23, 2022
Entry categories include, but are not limited to:
- Sending and receiving money
- Credit for women-led micro, small, and medium enterprises (MSMEs)
- Safety net products (insurance, savings and pensions)
- Beyond money (financial and digital capabilities, and other business support services)
The 2023 Fintech Innovation Challenge is inviting applications from fintechs pioneering innovative financial solutions that break the persistent challenges in serving the low-income women’s market.
What is the Fintech Innovation Challenge?
Through a highly competitive process, Women’s World Banking’s Fintech Innovation Challenge identifies and elevates 4 later-stage fintechs pioneering innovative financial solutions that break the persistent challenges in serving the low-income women’s market.
The Fintech Innovation Challenge attracts over 100 fintech applicants from around the world who are developing innovative products to close the gender gap in the low-income women’s market.
The challenge looks for fintechs currently developing innovative products and solutions that address low-income women and their needs.
Prizes To Be Won
✓ The four finalists and grand prize winner will be awarded mentorships, personalized UX design and investor consultations, membership to exclusive networks and priority access to fintech events attended by investors and partners around the world.
Grand Prize Winner
✓ Priority access to key 2023 fintech-investor networking events powered by Elevandi, such as Point Zero, Elevandi Connects and/or the Singapore Fintech Festival
✓ Priority access to Women’s World Banking’s global PR firm, Porter Novelli, to help develop strong media presence and drive visibility and exposure
✓ Invitation as a featured speaker at a Women’s World Banking Making Finance Work for Women thought leadership event.
The Four Finalists seeks to gain:
✓ Invitation to pitch your solution at Women’s World Banking’s Fintech Innovation Challenge in February 2023 in Dubai as part of the Making Finance Work for Women Summit.
✓ Invitation to join Women’s World Banking Global Network, with one-year complementary membership.
✓ Fast tracked application to Miller Center for Social Entrepreneurship’s Accelerator at Santa Clara University focusing on women’s economic empowerment and climate resilience, which features:
- Access to a Silicon Valley network of 300+ mentors
- An average of $750K in investments raised 3-years post-accelerator
- Exclusive pitch advisory session with Women’s World Banking Asset Management team
- Priority access to UX design consultation with an industry expert
- Invitation to attend the Making Finance Work for Women Summit in Dubai and leverage networking opportunities with 300+ high-profile global stakeholders in financial services, fintech and financial inclusion
Who Should Apply?
Fintechs who fit the following criteria:
✓ Scale Potential
✓ Product Innovation
✓ Financial Viability
✓ Gender Inclusive Solution
✓ Solution improves the financial lives of low-income women and their families
✓ Team Experience and Diversity
✓ Team demonstrates a commitment to gender inclusivity through a diverse team composition and inclusive policies
✓ You are a fintech leveraging technology to provide financial solutions for underserved, low-income women.
✓ Your focus is on serving customers in emerging markets.
✓ Your fintech is preparing for Series A or later and can demonstrate a minimum viable product and a path to profitability.
Application Deadline – September 23, 2022