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 2019, 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.
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 2019. 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 2019.
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 2019, 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.