The International Finance Corporation (IFC) organized its first MSME Finance Data Competition to provide graduate students an opportunity to work collaboratively in  learning about  micro, small, and medium  enterprises (MSMEs) and exploring  some of the challenges MSMEs encounter in today’s world.

What are MSMEs? Why are they important?
Micro, small and medium enterprises (MSMEs) account for the major share of the private sector and employment in emerging markets. Despite their size and importance, microenterprises have limited access to savings, credit, and payment services provided by formal financial institutions and similarly access to financial services for small and medium enterprises remains severely constrained in emerging markets. IFC’s MSME finance gap analysis estimates an unmet financing need of $5.2 trillion, including $1.5 trillion attributable to women-owned MSMEs. 

Over the years, IFC has been contributing towards increased financial access to MSMEs, by providing both funding for equity, loans, and mezzanine finance and providing capacity building support to financial intermediaries, including microfinance institutions (MFIs), commercial banks, and leasing companies.

This competition is organized by IFC, hosted by Financial Institutions Group & Sector Economics and Development Impact Department CSE. With the collaboration of SME Finance Forum and IFC KNovember Month. 

Competition Format
The Competition had three challenges – two take-home challenges and a live challenge at the IFC HQ. All the challenges were completed in teams. For the take-home challenges, each team had one week to make their submission and the live challenge needed to be completed in 1.5 hours. Download Flyer

Eligibility
This competition was open in its first edition to enrolled graduate students in the DC area.

The competition in a nutshell

We welcomed more than 85 graduate students from 7 universities of the D.C. area at IFC Headquarters. Students worked on the Live Challenge, had a conversation with HR, and were busy networking with peers and IFC senior staff.
The students presentend their proposals and six awards were delivered. They truly made it difficult to choose!

What makes you tick? For us at @SMEFinanceForum is making #SMEs grow!
Follow us the live challenge on Twitter on @SMEFinanceForum and @IFC_org and share your comments with the crowd! #smefinance#MSMEChallenge pic.twitter.com/1WQSEF0vge

— SME Finance Forum (@SMEFinanceForum) November 19, 2019

 

Winners announced

 

Quiz Champion 

Leemor Banai, AU Nationals – American University

with Dan Goldblum Manager of Sector Economics and

Development Impact of the Financial Institutions Group

IFC
     

 

 

Best Infographic

AU Nationals – American University

with Matt Gamser, CEO of SME Finance Forum

 

 

 

 

 

Best Research Proposal 

Mind the Gap - Georgetown University

with Issa Faye, Director of Sector Economics

and Development Impact at IFC

 

 

 

MSME Definition Challenge 3rd place

Blue Jays – Johns Hopkins

With Momina Aijuddin, Principal

Investment Officer at IFC

 

 

 

 

MSME Definition Challenge 2nd place

MSME Developers -  Georgetown University

with Issa Faye, Director of Sector Economics

and Development Impact at IFC

 

 

 

 

MSME Definition Challenge 1st place 

GWinners - George Washington University

with Matt Gamser, CEO of SME Finance Forum

 

 

Congratulations to the winning teams for their hard work!

To learn more about the event, follow us on Twitter at @SMEFinanceForum Hashtag #MSMEChallenge

Contact us at  msmefinancecompetition2019@ifc.org