Credit and finance for MSMEs: Digital payments company Visa on Friday launched its She’s Next initiative in India, part of Visa’s global grants programme, to support women entrepreneurs in growing and funding their ventures. The programme will provide three shortlisted women-led small businesses, following a screening process, with networking, mentoring, and funding opportunities with Visa.
The programme will be open to applications from women-owned and women-led businesses from 14 July 2023 to 27 August 2023. The shortlisted entrepreneurs will be offered a grant of $10,000 each.
“Bringing the She’s Next Grants Program to India, we believe, will strengthen our support for women-led businesses that face barriers to access and opportunity, be it for funding, mentorship or networking. By offering financial assistance, we aim to make a significant impact on deserving communities, bring about enduring social change and uplift the communities and people we serve and operate,” said Sandeep Ghosh, Group Country Manager, India & South Asia, Visa.
Visa had earlier also launched initiatives for women entrepreneurs in India such as a grants programme in 2020 with global partner IFundWomen to help entrepreneurs secure funding for business growth and expansion. In 2021, Visa drove a focused program with NASSCOM Foundation to enable digital and financial literacy among 650 women micro-entrepreneurs in rural areas.
Most recently, in 2022, Visa committed $1 million to United Way Mumbai (UWM) to support women-owned and women-focused businesses across 170 villages in four states, in a programme aimed at benefitting at least 8,500 women.
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“By equipping these women micro-entrepreneurs with essential skills and linking them with relevant financial resources, Visa aims to empower both their individual enterprises and the communities they serve,” the company said.
As part of the, She’s Next programme, Visa has invested more than $2.2 million in over 200 grants and coaching sessions for women entrepreneurs in the US, Canada, India, and Ireland as of 2020.