Applications are now open for the Women Enterprise Recovery Fund to promote and upscale Digital Solutions for Enhancing Women Enterprise Growth and Resilience.
The Women Enterprise Recovery Fund is supported by the Dutch Entrepreneurial Development Bank (FMO), the Government of Canada, and Visa Inc.
The Fund is jointly implemented by the United Nations Economic Commission for Asia and the Pacific (ESCAP) Catalyzing Women’s Entrepreneurship programme in partnership with the United Nations Capital Development Fund’s (UNCDF), under its ‘no-one left behind in the digital era’ strategy. The Fund is hosted by UNCDF’s Fund Facility Investment mechanism, through the UNCDF ASEAN programme, which is supported by the Australian Government.
The Women Enterprise Recovery Fund looks to partner with private sector innovators to design and launch digital solutions that support women enterprises economically impacted by COVID-19 and to address their financial and other business requirements.
Areas of Intervention Focus
The Women Enterprise Recovery Fund seeks to co-fund companies to pilot and scale digital and financial solutions that enhances women enterprise growth and resilience. Below is a list of potential areas of innovative and scalable solutions which can be considered, however other solutions may also be proposed:
- Supply Chain Financing;
- Digital Tools dor Women MSMEs;
- Investability & Digital/Financial Literacy.
Successful applications will receive:
- Up to US$ 50,000 in co-funding;
- Technical Assistance;
- Connection with investors.
Stages of Support
The Stages of support are:
- Bespoke Support
- Business model;
- Value proposition;
- Pitch training;
- Customer development;
- Design thinking.
- Build Support
- Fundraising workshop;
- Growth training;
- Data analytics on customer behaviour.
- Selling Support
- Connect to UNCDF Investment Platforms;
- Investor introductions and meetings;
- Selected winners invited to showcase in FinTech Festivals;
- Impact – Lean Data analytics based customer impact.
- Applicants can be based anywhere globally, however solutions must focus on women entrepreneurs in one or several of the following countries: Bangladesh, Cambodia, Indonesia, Myanmar, Nepal, and/or Vietnam.
- Mobile financial service providers;
- Regulated Financial Institutions (Banks, Insurance, MFIs);
- Regulated peer-to-peer lending providers;
- Smart agriculture equipment providers;
- Agricultural input suppliers/providers;
- Agent banking aggregators;
- Mobile network operators;
- Technology providers;
- Agricultural value chain companies;
- FMCG/ distributors/ wholesalers;
- Fintech / Agritech / Insurtech companies;
- Weather index-based crop insurance companies;
- Other relevant financial and technology providers.
- The applicant/ lead applicant must be a registered entity.
- The applicant can be based anywhere globally, but the project implementation and solution must target women enterprises in one or more of the target countries (Bangladesh, Cambodia, Indonesia, Myanmar, Nepal and Vietnam).
- Joint applications between market players (including those examples of registered entities given above) in the target country or countries are encouraged if the solution proposed will expand delivery networks and promote rural and/or other last-mile access to market and financial services.
- Applications from consortiums of organizations must show that the partnership was established prior to this call for applications or due to this call for application with a letter of intent.
- If the applicant does not have regulatory approval to pilot the proposed solution in the target country or countries, then the applicant must partner with a regulated financial institution in the country/countries to deliver the solution.
- The lead applicant and their financial service provider partner must be
Note: UNCDF will conduct due diligence on selected applicants. Applicants must have documents ready for confirmation that they meet the eligibility criteria, including audited financial statements, certificate of registration, certificate of compliance with the tax authorities and any other documentary evidence that might be requested by UNCDF besides the application form.
About the Women Enterprise Recovery Fund
The Women Enterprise Recovery Fund is supported by the Dutch Entrepreneurial Development Bank (FMO), the Government of Canada, and Visa Inc. The Fund is jointly implemented by the United Nations Economic Commission for Asia and the Pacific (ESCAP) Catalyzing Women’s Entrepreneurship programme in partnership with the United Nations Capital Development Fund’s (UNCDF), under its ‘no-one left behind in the digital era’ strategy. The Fund is hosted by UNCDF’s Fund Facility Investment mechanism, through the UNCDF ASEAN programme, which is supported by the Australian Government.
For more information, visit https://www.uncdf.org/article/6426/women-enterprise-recovery-fund