CAF -Latin American Development Bank- is organizing the fourth edition of the Financial Inclusion Lab (LIF 2022) focused on finding digital solutions for women’s financial inclusion, with the aim of promoting the generation of technological solutions in the following areas:
– Solutions to improve women’s education and financial capabilities.
– Solutions with gender-focused financial products and services.
– Financial inclusion solutions impacting the productivity of MSMEs managed and/or owned by women.
– Solutions with a govtech approach that have as part of the proposal a clear collaboration between the public sector, startups and digital MSMEs.
LIF 2022 brings together 80 public and private sector partners, investors and entrepreneurs to promote business opportunities, encourage interaction between members of the entrepreneurial ecosystem and provide concrete solutions to the financial inclusion issues raised in the bases of the initiative. The top 10 entries will enter the Seedstars and Endeavor acceleration programs.
Funding and Acceleration
Initiatives showcased at LIF 2022 will have a wide range of funding and acceleration opportunities, including the following:
– Prizes for the 10 winners of the LIF 2022:
o The 10 winning proposals will participate in the Endeavor or Seedstars acceleration programs, which will start in January 2023 and last between 3 and 6 months.
o The first winning proposal will receive a one-year membership in the Women’s Financial Alliance.
o The two highest scoring proposals from Panama will receive seed capital from AMPYME – Panama under the terms and conditions of the institution.
– List of LIF 2022 finalists:
o All finalist proposals will have the opportunity to participate in a virtual workshop on how to develop a gender-responsive fintech organized by the Financial Alliance for Women.
o Seedstars Empowerment Hanbooks will offer free asynchronous content through which women entrepreneurs can do their own integration with technology tools.
o The Seedstars Mentoring Hub will offer the possibility to access 2 hours of advice, allowing them to connect with mentors in the region.
– Prizes for all LIF 2022 participants:
o Possibility of entering into a round table by CAF and the private partners of the LIF 2022, subject to an expression of interest from the actors involved.
o All proposals will be able to participate in MentorDay and use a scoring service to assess submitted applications.
– The deadline for submitting projects will be from July 25 to September 9, 2022 at 11:59 p.m. Colombia time.
– The review of projects will take place between September 12 and 30, 2022.
– The Financial Inclusion Lab organization will notify applicants of shortlisted proposals between October 3-7.
– Pitch presentation & matchmaking event: October 20, 2022.
– Acceleration activities by Seedstars and Endeavour: between January and June 2023.
– Accelerators: Endeavor and Seedstars.
– Regional allies: UNDP, FinEquityALC, UN Women, Financial Alliance for Women, Felaban, Ibero-American Network of Women in Fintech (WeFintech), FintechU.
– Partners by country:
o Argentina: Ciudad Bank, Central Bank of Argentina, Argentine Chamber of Fintech, Flor Foundation, Resiliencia SGR, Women’s Coordinating Committee.
o Bolivia: National Bank of Bolivia, Sol Bank, Productive Development Bank, Asoban Bolivia, Asofin, CRECER IFD, FINRURAL, Women’s Coordination Committee, Innova UP – CAINCO.
o Brazil: Central Bank of Brazil
o Chile: State Bank, Fintech Association, BCI Chile.
o Colombia: Colombian Banking Association, Bogota Chamber of Commerce, Colombia Fintech.
o Costa Rica: Center for Financial Innovation, Development Bank, Central Bank of Costa Rica, National Institute for Women (INAMU).
o Ecuador: Central Bank of Ecuador, Superintendence of Banks of Ecuador, Asofintecs Ecuador, Financial Cluster.
o El Salvador: Ministry of Economy
o Mexico: National Banking and Securities Commission of Mexico, Inmujeres, Ministry of Finance of Mexico.
o Panama: AMPYME-Panama, AEI: Alliance for Entrepreneurship and Innovation, National Women’s Institute, Panama Microfinance Network, Superintendency of Panama Banks.
o Paraguay: Paraguay Fintech Chamber, Ministry of Finance of Paraguay, General Secretariat of the Ministry of Women of Paraguay, Asoban Paraguay, Staff, Ministry of ICT of Paraguay, Visión Bank, GNB Bank, Basa Bank, Itaú Bank, Familiar Bank, Atlas Bank ,
o Peru: Asbanc Peru, Superintendence of Banks of Peru, Ministry of Women and Vulnerable Populations of Peru, Fintech Peru.
o Dominican Republic: Central Bank of the Dominican Republic, Association of Commercial Banks of the Dominican Republic (ABA), Ministry of Industry, Trade and MSMEs of the Dominican Republic,
o Trinidad and Tobago: TTFC
o Uruguay: Central Bank of Uruguay, University of the Republic, Ithaca Center for Entrepreneurship and Innovation, Uruguayan Chamber of Information Technology, Association of Private Banks of Uruguay (ABPU), Bank of the Republic of ‘Uruguay,
o Venezuela: Foundation Ideas, Impact Hub Caracas, Wave Hub, IESA.