$100,000 grant for Fintech startups: Results of Karandaaz Fintech Disrupt Challenge are out
Last month, Karandaaz Pakistan, in partnership with the IBA AMAN Centre for Entrepreneurial Development, organized the second edition of its FinTech Disrupt Challenge 2017 — an initiative to highlight innovative ideas from all over Pakistan working in the financial technology space and provide grants to startups with high growth potential.
There were two broad 'thematic areas' in which the startups had to compete for grants worth $100,000 and $20,000 respectively.
Funded by the Bill & Melinda Gates Foundation and UKAid, the $100,000 grant was aimed towards established startups, while the $20,000 grant was meant to be seed funding for newer companies in the block.
The application process kicked off in late April and 60 entries were received from all over Pakistan. Forty startup companies applied for the $100,000 grant, while 20 applicants were considered in the $20,000 category.