CAF -development bank of Latin America- is organising the fourth edition of the Financial Inclusion Lab (LIF 2022) focused on finding digital solutions for the financial inclusion of women, with the aim of promoting the generation of technological solutions in the following areas:
- Solutions to improve women's financial education and capabilities.
- Solutions with financial products and services with a gender focus.
- Solutions for financial inclusion with an impact on the productivity of MSMEs run 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 partners from the public and private sectors, 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 10 best proposals will enter the Seedstars and Endeavor acceleration programmes.
The initiatives presented at LIF 2022 will have a wide range of funding and acceleration opportunities, including the following:
- Prizes for the 10 winners of LIF 2022:
o The 10 winning proposals will participate in the Endeavor or Seedstars acceleration programmes, which will start in January 2023 and will last between 3 and 6 months.
o The first winning proposal will receive a 1 year membership to the Financial Alliance for Women.
o The two highest scoring proposals from Panama will receive seed capital from AMPYME - Panama according to the terms and conditions of the institution.
- Awards for LIF 2022 finalists:
o All finalist proposals will have the possibility to participate in a virtual workshop on how to develop gender-responsive Fintech organised by the Financial Alliance for Women.
o Seedstars Empowerment Hanbooks will offer free asynchronous content through which women entrepreneurs will be able to do their own onboarding to technological tools.
o The Seedstars Mentoring Hub will offer the option to access 2 hours of consulting, which will allow them to connect with mentors in the region.
- Prizes for all LIF 2022 participants:
o Possibility to enter a funding round by CAF and the private sector partners of LIF 2022, subject to a show of interest by the actors involved.
o All proposals will be able to enter MentorDay and use a scoring service to assess the applications submitted.
- The deadline for submission of projects will be from 25 July to 9 September 2022 at 23:59 hours Colombia time.
- The review of the projects will take place between 12 and 30 September 2022.
- The organisation of the Financial Inclusion Lab will inform the contestants about the shortlisted proposals between 3 and 7 October.
- Pitch presentation & matchmaking event: 20 October 2022.
- Acceleration activities by Seedstars and Endeavor: 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 Coordinating 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: Financial Innovation Centre, Development Bank, Central Bank of Costa Rica, National Women's Institute (INAMU).
o Ecuador: Central Bank of Ecuador, Superintendency 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, Microfinance Network of Panama, Superintendency of Banks of Panama.
o Paraguay: Fintech Paraguay Chamber, Ministry of Finance of Paraguay, General Secretariat of the Ministry of Women of Paraguay, Asoban Paraguay, Personal, ICT Ministry of Paraguay, Visión Bank, GNB Bank, Basa Bank, Itaú Bank, Familiar Bank, Atlas Bank,
o Peru: Asbanc Peru, Superintendency 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, Commerce and MSMEs of the Dominican Republic,
o Trinidad and Tobago: TTIFC
o Uruguay: Central Bank of Uruguay, University of the Republic, Ithaka Centre for Entrepreneurship and Innovation, Uruguayan Chamber of Information Technology, Association of Private Banks of Uruguay (ABPU), Republic Bank of Uruguay,
o Venezuela: Foundation Ideas, Impact Hub Caracas, Wave Hub, IESA.