Women Entrepreneurship Challenge 2018

Women Entrepreneurship Challenge 2019

Women entrepreneurs in Pakistan face additional barriers to starting and growing their businesses. These include lack of asset ownership, lower levels of access to finance, inaccessibility to business networks, as well as socio-cultural challenges. As part of its mandate to promote women’s economic participation as well as generate employment for women and youth in Pakistan, Karandaaz Pakistan, with funding from the Department for International Development UK (DFID), seeks to enable growth of women-led businesses by providing technical and financial support to female entrepreneurs across the country.

Karandaaz Women Entrepreneurship Challenge 2019 is now accepting applications from women-led businesses that have been in operation for 3 years and are looking to scale up their business. Selected businesses will:
1. Receive business development support
2. Be eligible for investment of up to Rs. 20 million. Investment decisions will be made by a panel of judges appointed by Karandaaz.

WHO CAN APPLY?

If you fulfill ALL the following conditions, you are eligible to apply:

• The business should be owned and managed by a woman. Women where at least 50% of ownership is held by women and where the CEO is a woman are also eligible to apply.
• The business should have been in operation for at least 3 years.
•The business should have earned a revenue (sales) of at least PKR 5 million in the last 12 months.
•The business must have an NTN. The owner(s) should be a Pakistani national and have a CNIC.

WEC 2019 is open to all sectors, and applicants may apply from anywhere in Pakistan

HOW THE PROGRAM WORKS?

Women-led businesses that fulfill the eligibility criteria can submit their application through this online portal. If you are shortlisted, we will ask for documents related to your business, such as corporate registration documents, tax registration certificates, financial statements and any other key documents needed. Applications will close on 20th May 2019. Karandaaz will subsequently shortlist businesses and invite them for an interview to better understand the business and its potential for growth and job creation. The interviews will lead to the final selection of businesses. These businesses will undergo a business plan development activity. Karandaaz will engage experts to help you develop your business plan, assess how much funding you need and a fund utilization plan. This will be used to help you prepare for your investment pitch to Karandaaz. In addition, the businesses will have access to advisory in key areas of business development. Areas of support will be identified mutually by the selected business and Karandaaz team. Finally, businesses will pitch to a panel of judges to raise investment of up to Rs. 20 million (PKR 2 crore) per business. Only businesses chosen by the judges will be eligible for investments.

Karandaaz will negotiate an investment deal with the winning businesses whereby Karandaaz will take preference shares in the business. The terms and conditions of the investment will be negotiated after selection.

There is no fee for participation and all support under the program will be funded by Karandaaz Pakistan, through the support of UK's Department for International Development (DFID). Applicants may be required to bear their own travelling and miscellaneous costs.

WHAT IS THE COMMITMENT REQUIRED FROM THE WOMEN-LED BUSINESSES?

If selected, applicants must commit to:

1. Participating in all components of the program, including a business assessment, business advisory support and investment pitching.
2. Being open to negotiating an investment deal with Karandaaz. You will have the right to accept or reject the investment offer made by Karandaaz.
3. Participating in events, documentation and monitoring and evaluation activities as required by Karandaaz.

WHAT IS THE PROGRAM TIMELINE?

Applications open on 26 April 2019 and close on 20 May 2019. Selected businesses will be informed within 3-4 weeks after applications close.

IF YOU HAVE A QUESTION OR COMPLAINT?

In case you have a question, please first visit the FAQs page on our website https://wec.karandaaz.com.pk/. In case you still have a query or a complaint, you can write to us at wec@karandaaz.com.pk. Please allow 3-5 working days for a response.

OUR CONTACT DETAILS

Email: wec@karandaaz.com.pk
Website: https://wec.karandaaz.com.pk

DISCLAIMER:Submission of applications does not guarantee selection for the program. Karandaaz retains the right to reject applications without providing any reason. Decisions made by Karandaaz or its appointees at all stages of the selection and financial award process will be considered final and will not be contestable.