Women Entrepreneurship Challenge 2018

Women VenturesWomen Entrepreneurship Challenge 2018
2018
Women Entrepreneurship Challenge 2018

Launched: June 2018

Status: Applications closed

HIGHLIGHTS
  • WEC 2018 targeted women-led businesses that had been operational for 3 years or more, and were looking for capital to grow
  • Karandaaz ran a nation-wide outreach campaign and received over 245 applications. After a competitive selection process, 21 businesses were selected to receive business advisory and given the opportunity to pitch to Karandaaz for investment
  • Karandaaz has signed funding contracts with 8 women-led businesses worth PKR 171 million under its Women Entrepreneurship Challenge 2018
CONTEXT

This year’s challenge targeted businesses that had an operational history of 03 years and needed investment to scale their running business. Women-led businesses operating in any sector from anywhere in Pakistan were eligible to apply. ~245 applications were received, of which 19 were selected to receive business advisory services and an opportunity to pitch to a panel of Karandaaz judges to get funding.

19 businesses received business advisory in the following areas: Investment pitching, Corporate Registration, Taxation, Finance for Non-Finance, Strategy and Performance Management, Website Design and Digital Marketing. In December 2018, these businesses pitched to a panel of judges for investment. Karandaaz has signed investment contracts with 8 businesses for total funding of PKR 171 million.

WEC 2018 offered the following:

  • Customized needs assessment of businesses to identify areas where business development services would be relevant to enable growth
  • Provision of business development support in line with the business’s needs
  • Up to PKR 20 million of investment (or more, in exceptional cases)
WEC 2018
Following a nationwide campaign, involving radio, newspapers, billboard and sessions at the Women’s Chambers of Commerce across multiple cities, Karandaaz solicited over 245 applications for WEC 2018. 55 women entrepreneurs were shortlisted for interviews, of which 21 were selected to receive needs-based business development support from Karandaaz, through their implementation partner- Ernst and Young (E&Y). 18 finalists signed contracts with Karandaaz to receive this technical assistance through WEC 2018. After carrying out needs-based assessments, E&Y provided the businesses with customized business development services (BDS). BDS included trainings on Pitch Presentation, Corporate Registration, Taxation, Finance for Non-Finance, Strategy and Performance Management, Website Design and Digital Marketing. On 19th December 2018, 16 women-led businesses pitched for investment to a panel of five judges, in Lahore. The judges recommended 10 businesses to receive funding, after a further round of due diligence by the Karandaaz team. As of March 2019, Karandaaz has signed and finalized contracts with 8 businesses, after facilitating their process of registering as Private Limited Companies, for an estimated total funding of PKR 171 million.
Profiles of Investees

New Age Flour and General Mills started operations in 1990. It is currently owned and run by a mother daughter duo and is located in Peshawar. They hope to one day become one of the leading flour mills in the country.

Web Work Solution is a leading e-commerce solutions provider in the local market, and is paving the path for becoming a competitive global player in the web-development space.

M-Tex is a partner of choice for top clothing retail brands who are looking to meet their embroidery needs in the local textile industry. Ever since entering the market in 2014, M-Tex strives to provide customers superior quality and customer service, while ensuring timely delivery- which is a major competitive factor.

Lel designs and manufactures high quality furniture, using semi-precious stones and marble. The mother daughter duo hopes to preserve and evolve the art of handcrafted stone inlay, while giving employment opportunities to local Afghan artisans displaced by conflict.

Noha Global is the only facility management service provider in Pakistan registered with the International Facility Management Association. Since their inception in 2010, they provide fully integrated waste management, HR outsourcing and procurement services.

Kamal Impex is a trader of apparel goods, that sources clothing from SMEs and vendors, and then supplies them to leading modern trade markets, such as Hyper Star and Metro Cash and Carry.

Saira Rizwan is a high-end clothing designer and manufacturer of Pret, formal and Bridal wear for women.

Clayworks is Pakistan’s leading manufacturer of ceramic tableware, decorative items, tiles, and accessories.

WEC 2018 Karandaaz Investment Pitch Day
WEC 2018 in News