IFundWomen is the marketplace for women-owned businesses and all the people who want to support them with access to capital, coaching and connections. Visa’s partnership with IFundWomen is designed to help women entrepreneurs secure the funding they need through a series of grants.
T R Ramachandran, Group Country Manager, India and South Asia, Visa, in a statement said, “Women-owned businesses play an important role in commerce and employment generation. However, they constitute only around 14% of the total entrepreneur base in India. We want to see this number increase but our interactions with women entrepreneurs show that access to capital to fund, run and grow their businesses remains a challenge. The Visa and IFundWomen grant program in India aims to boost female entrepreneurship and empower budding businesswomen through our network, guidance, financial support and resources to help achieve their dreams.”
Visa will be seeking applications from women entrepreneurs across all sectors till October 20. To participate, applicants need to submit details about their business and online presence, along with a short video about their business. Three winners will be selected from the shortlist and receive grants of Rs 7,00,000 each and coaching from leaders within the Visa and IFundWomen network. Visa has partnered with FLO (the ladies’ wing of FICCI) and Instamojo as Digitization partner for the program in India
In June, Visa committed to supporting 50 million small businesses globally to power recovery and enable them digitally. In August, through the first India edition of Visa Everywhere Initiative, it awarded three fintech startups with monetary awards and technological support from Visa to take their solutions to market. Now with the announcement of this grant program, Visa furthers its commitment to support small businesses, particularly those led by women entrepreneurs across India.