Leading development finance institutions (DFIs)including FinDev Canada, CDC Group(CDC)of the United Kingdom,Proparco of France and the Overseas Private Investment Corporation (OPIC) of the United States along with the Mastercard Foundation,announced today at the Women Deliver 2019 Conference that they are joining forces to sponsor the 2X Invest2Impact –Business Competition.The purpose of the competition is to support the growth of high potential, women-owned businesses to increase their commerciality and impact. This major new initiative will support women entrepreneurs who have the potential to make a positive impact on their local economies and are strong candidates for investments from development financiers.
The goals of 2X Invest2Impactareto:
•Directly reach women-owned businesses thatmay otherwise face barriers in accessing investment capital;
•Contribute to the community of women business owners and leaders in the region
Gather and share learnings on women in business and gender-lens investing;
•Increase visibility and momentum for gender-lens investing;and
•Pilot an investment prospecting model that could be replicated in other regions.
The competition will provide value to all entrants, including networking and feedback through insights and benchmarking reports. After an initial application process, twenty-five small and medium enterprises (SMEs)will be selected for participation. These contestants will benefit from pitch training, access to webinars, podcasts and other learning tools as well as networking opportunities. Each SME will be assigned a mentor and be promoted during a high-profile and well-publicized closing event.
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