Using Digitalization to Support Financing of Women-owned Businesses in the Pacific Islands

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ELIGIBILITY

This Challenge is open to startups, research organizations, technology providers, and corporate partners from ADB member countries, which fulfill the following criteria: 
  • Formally registered technology-based start-up firms with at least 3 years of operations, technology providers, and corporate partners that primarily serve the financial services industry (Fintech)
  • Fintechs with experience and goal to support solutions for the female economy
  • Possess a minimum viable product (MVP) or a product available on the market or ready to be rolled out in the market which can be tailored based on challenge requirements
  • Mature enough to drive to POC stage with financial institutions
  • Preference for gender-diverse teams and female-founded/-managed
  • Experience in the Pacific, specific knowledge of Papua New Guinea preferred 


TIMELINE

  • Application
    Phase

    Aug 12 to Oct 8, 2021

    Register and submit your Solution Pitch Deck!

  • First
    Shortlisting

    Oct 9 to 11, 2021

    Up to 10 Solutions will be shortlisted.

  • Mentoring
    Phase

    Oct 12 to 22, 2021

    Guidance from ADB specialists to further improve submissions.

  • Second
    Shortlisting     

    October 25 to 26, 2021

    The Top 4-5 Solutions will be shortlisted.

  • Final 
    Pitching

    October 28, 2021

    Finalists to pitch to the panelists.

 
 
 

APPLICATION PHASE

August 6 to October 8, 2021, 23:59 GMT+8 

 

Create an account on the platform (or log in with your existing credentials) and ‘Participate’ as an individual or team up with other members!

This Challenge is open to startups (with at least 2-3 years of experience), research organizations, technology providers, and corporate partners from ADB member countries. Teams may be composed of between 2-6 persons. We highly encourage having a diverse set of team members who have multiple skills to address the challenges. See more detailed eligibility criteria under "Eligibility".

The proposal should be submitted on or before  October 8, 2021, MIDNIGHT GMT+8 with a deadline set at 2359 hrs [GMT +8]. 

  • Team Introduction: Name and professional background (including short 1-page CV) for all members of the team submitting applications. 
  • “Pitch deck: ” Presentation with
    (i) idea and value proposition
    (ii) details on the underpinning technology and data inputs
    (iii) explanation of the solution
    (iv) details on how to maintain the product in the long run
    (v) business model.
  • Please provide the presentation in PDF format. 
  • Prototype or wireframe of the proposed solution (optional), which may be submitted as an URL to the solution, mp4 video, or PDF format. 

FIRST SHORTLISTING

 
 October 9 to 11, 2021

 

ADB judges and Partners will assess the submitted solutions and select the semi-finalist teams based on the following criteria:

  • Technology - 25%
  • Impact - 25%
  • Presentation - 25%
  • Budget/Scope of Work - 25%

Up to 10 teams will be selected for the next round. The results announcement will be made on October 11, 2021.

MENTORING PHASE

October 12 to 20, 2021
 
The shortlisted teams will be paired with experts to further understand the context of the problem and refine the proposed solution.

For this second stage, a prototype or wireframe of the proposed solution will be mandatory.

SECOND SHORTLISTING

October 21 to 22, 2021 

 

ADB judges and Partners will assess the submitted solutions and select the finalist teams based on the following criteria:

  • Technology - 25%
  • Impact - 25%
  • Presentation - 25%
  • Budget/Scope of Work - 25%
 

Up to 5 teams will be selected for the final round. The results announcement will be made on October 23, 2021.

FINAL PITCHING

October 28, 2021
 
The finalist teams will have 15 mins to present their pitch decks and give a demonstration of their proposed solution in front of a panel of esteemed judges made of representatives from ADB, WeFi, and other jury  members.
 
After the presentation, the jury will pose questions to the team.
 
The jury will announce the selected team at the end of the event!

More information will follow later on, stay tuned!

JUDGING CRITERIA

The projects will be assessed following the criteria below:

  • Technology - 30%

    The extent to which the solution is easy to use, intuitive as well as how well does it solve the problem using an innovative approach coupled with great design.

     
  • Impact - 30%

    The extent to which the technology solution can contribute to helping to reach the Sustainable Development Goals.

     
  •  Presentation - 20%

    Is the presentation comprehensive? Does the presentation explain how they are solving the problem, challenges, and ability to be deployed and create impact?

     
  • Budget and Scope of Work - 20%

    The viability and feasibility of the technology solution from a technical, economic, and social context to be scaled-up. The extent to which the technology solution can be implemented.


IMPORTANT NOTE:

In order to be awarded the Seed Funding, the submitters will be asked to explain why they would be best placed to take this opportunity.