T R Ramachandran, Group Country Manager, India and South Asia, Visa said, “Women-owned businesses play an important role in commerce and employment generation. However, they constitute only around 14% of the total entrepreneur base in India. We want to see this number increase but our interactions with women entrepreneurs show that access to capital to fund, run and grow their businesses remains a challenge. The Visa and IFundWomen grant program in India, the first outside of the U.S., aims to boost female entrepreneurship and empower budding businesswomen through our network, guidance, financial support and resources to help achieve their dreams. Visa is committed to championing women in all facets of life in the pursuit of economic growth, job creation and an inclusive society.”
From today until October 20, Visa will be seeking applications from women entrepreneurs across all sectors. To participate, applicants need to submit details about their business and online presence, along with a short video about their business to www.ifundwomen.com/visa-india. Three winners will be selected from the shortlist and receive grants of Rs. 7,00,000 each and coaching from leaders within the Visa and IFundWomen network. Visa has partnered with FLO (the ladies’ wing of FICCI) and Instamojo as Digitization partner for the program in India.
In June, Visa committed to supporting 50 million small businesses globally to power recovery and enable them digitally. In August, through the first India edition of Visa Everywhere Initiative, it awarded three fintech startups with monetary awards and technological support from Visa to take their solutions to market. Now with the announcement of this grant program, Visa furthers its commitment to support small businesses, particularly those led by women entrepreneurs across India.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.