Pakistan’s leading promoter of financial inclusion and associated technology, Karandaaz has announced the 2nd edition of its FinTech Disrupt Challenge 2017 (#FDC2017) with IBA AMAN Centre for Entrepreneurial Development as venue partner. Karandaaz is inviting FinTech startups to pitch their innovative ideas and vie for a funding support of up to $100,000.
The competition aims to support innovation in the FinTech space to enable greater financial inclusion by means of identifying and supporting best and most innovative practices in terms of digital payment solutions, access to financial services, eCommerce and interoperability solutions. On the basis of thematic areas of the Challenge, two grants of up to $100,000 and five grants of up to $20,000 will be given to the start-ups having high growth potential and groundbreaking financial technology solutions. Ideas that focus on greater access of women to financial services are especially encouraged in #FDC2017.
“We are pleased to announce the 2nd installment of our FinTech Disrupt Challenge collaboratively with IBA AMAN CED as our venue partner,” said Rehan Akhtar, Director Digital Financial Services, Karandaaz Pakistan. “We encourage young FinTech startups with limited financial assets from across Pakistan to apply and pitch their innovative ideas that carry the potential to revolutionize the country’s financial landscape. As is the tradition at Karandaaz, solutions that cater to women’s financial inclusion are highly encouraged for #FDC2017,” he added.
As the focus of the Challenge is to scout disruptive FinTech innovations from all over the country, any registered company, start-up or a start-up team based in Pakistan is encouraged to apply for the competition. Applications can be submitted online latest by May 9, 2017. Shortlisted applicants will pitch their ideas on the Day of the Challenge on May 20, 2017. Click here for more information on the eligibility criteria.
In pursuit of its mission of promoting greater access to financial services in the country, Karandaaz Pakistan organized the country’s first FinTech Disrupt Challenge in November 2016 collaboratively with LUMS Centre for Entrepreneurship (LCE). Out of the 28 shortlisted startups, 3 won funding support of $100,000 each.