A motivational startup campaign by the name of FinTech Disrupt Challenge 2016 has been launched for young FinTech Startups. This campaign was brought forward by Karandaaz Pakistan, in association with LUMS Center for Entrepreneurship (LCE). It is aimed to increase financial enclosures in Pakistan by motivating young students to compete and explore new startups. As a result, the challenge will provide financial prizes and grants of up to PKR 10 million to the winner of the competition by sorting out the best startups.
This internationally praised FinTech Disrupt Challenge will test young startups in terms of their product and services related to costs, financing, insurance, savings and investments of financial sector in specific. In addition, the competition will also provide authentic financial support to the startups. Moreover, it will also develop the essence and values of entrepreneurship into financial sector of businesses.
Application and evaluation
Young startups having low financial resources can also apply and compete against one another. The registration process for the competition is open until 11th November 2016. Startups would be shortlisted after initial evaluation and would be requested to pitch their ideas on 27th November, the Disrupt Day. Judges from Karandaaz, LCE and other private sectors will be evaluating the presentation.
Evaluation of the startups would be done on the basis of innovative and competitive ideas with financial feasibility. Three winners will be announced after final evaluation and they will be presented with rewards of up to PKR 10 million.
For further details regarding the objectives, eligibility, evaluation standards and rules for finalist, you can check out Karandaaz flyer. To apply for this ambitious challenge click here.