Type of Funding
Cartier International is inviting committed female entrepreneurs heading businesses that are in the early stages of development and with significant growth potential, to apply for the 2020 Cartier Women’s Initiative Award, which offers funding, coaching, networking opportunities and exposure. It provides women entrepreneurs with the opportunity to take their companies to the next level.
Twenty-one finalists representing the top 3 projects from each of the 7 regions (Latin America & the Caribbean, North America, Europe, Sub-Saharan Africa, Middle East & North Africa, East Asia, and South Asia & Oceania) will be selected on based on their applications. They will then receive coaching to advance to the final round of the competition which entails them to submit to submit a detailed business plan and to present their projects for judging during the Cartier Awards Week in May 2020.
The 21 finalists representing the top 3 businesses from each of the 7 regions, will receive:
- One-to-one personalized business coaching prior to the Awards week
- Series of business coaching workshops and networking sessions during the Awards week
- Media visibility
- A scholarship to attend the 6-day INSEAD Social Entrepreneurship Executive Programme (provided the business meets INSEAD’s eligibility criteria) and
- Ongoing support for the further growth and development of their business.
Each of the winning 7 laureates will receive US$100,000 in prize money as well as one-to-one personalized business mentoring. The rest of the 14 finalists (2 runners-up from each region) will each receive US$30,000 in prize money.
Applicants must be female entrepreneurs, with the lead entrant being at least 18 years old or the age of legal majority in the country of citizenship (whichever is older) from the 7 regions. They can be from any sector of industry. The main leadership position of the business must be filled by a woman either in the capacity of Director, General Manager or CEO. She must also own significant stake within the company. Applicants must be proficient in English.
The project to be considered for the Cartier Women’s Initiative Awards must be a for-profit early stage business that is in its initial stages of development (1 to 5 years old of licensed/registered operations). The business submitted for the Award must be designed to generate revenues and return some profit to its owners. Non-profits are not eligible. Companies should be majority owned by founders and employees. The business should currently be generating revenue from the sales of its products and/or services for at least 1 year. The business should not have raised more than US$2 million in dilutive funding. The Cartier Women’s Initiative caps the funds raised in order to ensure that the businesses selected fall within a similar range of development.
The business should meet at least 1 of the United Nations’ 17 Sustainable Development Goals (SDGs).
The lead entrant must commit to dedicating 3 to 4 hours per week virtually from January to April 2020 to participate in the Cartier programme, to submitting deliverables on time, and is able to attend 1 week of in-person workshops in early May 2020.
Applications are to be done online, by 14 August 2019.