$200,000 Innovation Fund for Fintech Companies

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Financial technology companies are invited to submit projects on building security, resilience and economic prosperity for women and communities worldwide. Finalists of the Fintech Innovation Challenge will receive funding of up to $200,000. The deadline is on 15 June 2020.

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Opportunity for Fintech companies to win $200,000 Innovation Fund

Women’s World Banking is an organization that designs and invests in the market-driven financial solutions in emerging markets to create greater economic stability and prosperity for women. Women’s World Banking wants to identify FinTech innovations providing unbanked and underserved women with access financial services in order to build their security and prosperity in the face of these global economic uncertainties.

FinTech companies are invited to submit solutions in either of one of two categories:

Build Security and Resiliency. How might we enable unbanked and underserved women to build resilience through convenient, secure, and reliable access to safety nets (i.e. funds for emergencies) to help mitigate against global shocks?

Build Economic Prosperity. How might we enable unbanked and underserved women to expand their income-generating activities to build their business and household income and support economic recovery after global shocks?

Finalists will receive an invitation to present at Women’s World Banking’s virtual Making Finance Work for Women Summit in October 2020, which convenes leaders from the financial services, investor, philanthropy, policy and technology communities. Two Grand Prize winners will compete as a finalist in the Monetary Authority of Singapore’s Global FinTech Hackcelerator and be fast-tracked to receive a MAS Proof-of-Concept Grant up to S$200,000.

The deadline is on 15 June 2020.

 

Main criteria

  • Applicants can be pre-revenue but must demonstrate a viable value proposition to reach unbanked and underserved women
  • Solutions should focus on building women’s security or prosperity, particularly in supporting resilience and recovery from global economic shocks
  • FinTechs should also demonstrate a commitment to developing women leaders through the presence of women in their senior management team and Board of Directors

 

Find out more about FinTech Innovation Challenge 2020 and other open calls.

Photo: Shutterstock / Edited by: Martina Advaney

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