Women in Business Challenge 2011 – 2012
Women in Business are seen by ING as significant contributors to economic growth in the developing world. Yet many women with great business ideas lack the funding and crucial non-financial support to help them get launched and succeed as businesswomen.
The Women in Business Challenge
Some of the biggest challenges facing budding business entrepreneurs from developing nations in Africa, Asia and Latin America go beyond just securing the start-up capital for their ventures. Practical training and support in setting up and managing a business can provide skills sets crucial to the success of women entrepreneurs.
The 'Women in Business Challenge', a joint initiative of ING and the Business in Development (BiD) Network Foundation, offers entrepreneurs from the developing world a once in a lifetime opportunity to be guided and mentored by a business coach from ING and to visit the Netherlands for a one-week intensive business training course - a great opportunity to expand their networks and meet potential investors.
How it works
Aspiring businesswomen from the developing world are invited to submit a two-page description of their business idea which must meet specific social and environmental requirements. The entrepreneurs will then be matched with online coaches from ING who will help them write and further develop their business plan. ING employees acting as coaches can choose the entrepreneur and business idea that they are most enthusiastic about and would like to help develop further. Coaching is conducted by email, Skype and telephone.
The bottom line
- Number of entrepreneurs who applied: 320
- 139 Full business plans handed in
- Registered ING coaches: 117
- 48 ING coaches matches with an entrepreneur
- ING countries that participated: 7