Visa Announces Grants for Women Owned Businesses in India
Visa announced on Monday the recipients of its grant program in India to promote entrepreneurship among women around the world and empower aspiring business women. As part of Visa’s first global grant program in partnership with IFundWomen, Bunko Junko, My Chapter One and MoWo Social Initiatives each received a grant of Rs 7,00,000 from Visa and resources from Instamojo to digitally grow their businesses to continue to offer better deals Services to their communities.
“Access to finance, educational resources and a digital presence are fundamental building blocks that help small businesses not only survive but thrive,” said Kevin Phalen, global director of business solutions for Visa, in a statement.
“We pride ourselves on providing companies around the world with the capital and educational resources they need to achieve their goals,” added Phalen.
Women-owned companies in India have grown from 14 percent to 20 percent in the past decade and employ between 22 and 27 million people.
To highlight this growth, Visa received applications from hundreds of companies across the country in sectors such as apparel and fashion, healthcare and wellness, food and beverage, and arts and events.
The company judged 16 semi-finalists by a jury composed of senior executives from Visa, FICCI FLO (FICCI Ladies’ Organization) and Instamojo.
The final winners were selected based on the number of votes cast by the jury.
In addition to the grants, Instamojo, the digitization partner, is providing the winners with tools and resources to help them build their digital presence.
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