Karandaaz Pakistan, in collaboration with LUMS Center for Entrepreneurship (LCE), has launched FinTech Disrupt Challenge 2016, a startup roadshow to motivate young FinTech Startups to participate in healthy competitions and find startups that are increasing Financial inclusion in Pakistan. The challenge, primarily, will work to sort best startups out for financial prizes, grants which can count up to PKR 10 Million.
The competition, devised on the lines of internationally acclaimed Disrupt Challenge, will be gauging young startups for their products and services in the financial sector, specifically relating to the domains of payments, financing, insurance, savings, and investments. The competition will not only be providing financial backing to the startups with a well-drafted approach but will also aim to enhance Entrepreneurship spirit and culture into the financial domain of businesses.
Young startups with limited financial assets would be eligible to apply, and compete against each other. The challenge will keep accepting applications till the 11th of November 2016. Following the initial evaluation, the shortlisted startups would be given dais on 27th of November, the Disrupt Day, to present their ideas and pitch to the judges from Karandaaz, LCE, and some private sector organizations.
The startups would be evaluated on the basis of a range of competitive factors, including innovation, and financial viability. Top three startups would be sorted out, and given financial grants which could worth up to PKR 10 Million.