Digitalise Women-Led MSMEs with the Women MSME FinTech Innovation Fund!

The Women MSME FinTech Innovation Fund is rewarding companies that can assist the digitalisation of women-led micro, small and medium enterprises (MSMEs) in countries such as Cambodia.

The fund, a joint collaboration by the UNESCAP and UNCDF, is looking for tech solutions that:

  • Reengineer credit operations (e.g. P2P lending, alternative credit scoring, automation of loan origination process, credit approval process, disbursement and repayments)

  • Use emerging technologies such as blockchain or distributed ledger technology, with a focus on Big Data analytics for credit assessments, smart contracts and/or trade financing

  • Overcome potential roadblocks in sales and delivery channels, marketplace lending, supply chain financing, credit assessment, and offer alternatives to collateral and risk management

  • Promote inclusive development such as women’s economic empowerment, increasing access to hard to reach or marginalised groups, and disability sensitive products/services

  • Improve women MSMEs’ abilities to better manage business operations and funds by increasing access to finance with financial literacy, digital literacy and/or business management capacity development (e.g. improved cash-flow management or digital accounting tools)

Eligible applicants who can apply for the Innovation Fund include but are not limited to:

  • Regulated Financial Institutions (Banks, MFIs, Insurance Companies)
  • Payment Service Providers
  • Agent Banking Aggregators
  • Mobile Network Operators
  • Technology Providers
  • FMCG/Agriculture/Other Companies
  • FinTech Companies
  • NGOs

Applicants must have a year of operations and statutory accounts from either themselves or their financial service provider available and can be based anywhere, but the project must target women-owned, managed or led MSMEs in one or more of the target countries, such as Cambodia. Most importantly, they must be able to demonstrate a solution ready for pilot testing for 9 to 12 months.

Selected applicants will embark on a one year pilot testing journey from July 2019 to July 2020 and the winners will receive USD 25,000 to 50,000 in co-funding, technical assistance with development and design, mentorship, connections with investors, and an early-stage grant. If the pilot project is successful, the applicant may also receive additional grants or financing from UNCDF or partners for project scaling.

Deadline for applications is on 1 May 10:59am ICT. For more information and registration, visit this link.