Women Entrepreneurship Challenge 2017

Women VenturesWomen Entrepreneurship Challenge 2017
2017
Women Entrepreneurship Challenge

Launched: May 2017

Status: Applications closed

HIGHLIGHTS
  • Karandaaz partnered with business incubators to launch a country-wide programme for supporting women-led businesses
  • 36 women-led businesses were selected to benefit from the incubation and business acceleration programmes
  • 15 successful female entrepreneurs received grants and investment worth PKR 64 million through the Women Entrepreneurship Challenge 2017
CONTEXT
Market scoping exercises involving female entrepreneurs revealed that unfavourable business and regulatory environments, coupled with societal and cultural barriers, lack of networks, knowledge and links to high-value markets impeded access to finance for women-led and managed businesses. While this was a problem for SMEs in general, it was disproportionately impacting women entrepreneurs. Recognizing that financial institutions were reluctant to develop a sustainable strategy to address this significant market gap, Karandaaz Pakistan launched its own programme to serve women-owned businesses.
In May 2017, Karandaaz launched a Women Entrepreneurship Challenge (WEC 2017), to support women-owned and managed businesses by providing them customized business support and access to finance.
WEC 2017
Karandaaz partnered with 3 incubators/accelerators to identify women entrepreneurs who have established businesses and are looking for growth capital. Following a nation-wide campaign, Karandaaz reached over 600 female entrepreneurs across Pakistan. 43 businesses were selected of which 36 completed the incubation and acceleration program through partner organizations (invest2innovate, NIC Lahore (LUMS) and NIC Quetta (BUITEMS)). In March 2018, these businesses pitched to Karandaaz for raising investment. 15 women entrepreneurs successfully secured funding from Karandaaz.
Profiles of Investees

Polly and Other Stories is Pakistan’s first online store for handmade, unique products sourced directly from artisans and small businesses from across the region; giving big voices to small ventures. Amneh and Angela, the co-founders, started this business in 2015 and are currently working with 65 micro businesses, out of which more than 80 percent are owned by or employ a significant number of women.

Aero Engine Craft, is the brainchild of Dr. Sarah Qureshi and her father. Together, they designed contrail free aero-engines that induce artificial rain during aircraft flight through an on-board water recovery system from fuel emissions. The innovative and revolutionary design will not only reduce aviation induced global warming but also adopt an approach to treat the fuel emissions as a resource. With KRN support, Dr. Sarah aims to convert the patented technology into a full scale commercial application ready to be used by modern civil transport aircrafts.

Organic Jiyo is an exclusive online retailer for natural, organic and health food products in Pakistan. The business started in 2016, currently has 5 employees and offers 200+ products from 15 local producers. Anoshia, the co-founder, recognizes that her objective is to become the largest national retailer of organic products in the country, with the intention of bridging the gap between local producers and the market.

Zari Faisal Designs is an e-commerce based fashion and lifestyle product and content influencer platform. Zari, the founder, manufactures high-end clothing at high street prices and retails them via her website, mainly targeting Millennials and upcoming Generation Z. The company started operations in 2016 and currently has 12 employees.

Women benefiting from Karandaaz’s programme in Balochistan came from a variety of industries, including an artist, a graphic designer, educators, beauticians, dress designers, event managers, and a student who designed, developed and distributes an affordable and compact vacuum cleaner for cars and laptops. On 28th June 2018, Karandaaz hosted a ceremony in Islamabad to mark the signing of the agreements with the 15 successful female entrepreneurs for an estimated PKR 64 million of growth capital funding.
WEC 2017 Karandaaz Investment Pitch Day
WEC 2017 in News
WEC 2017 Investees