Finance News

Mastercard and CARE Vietnam Reveal Initiative to Highlight Female Entrepreneurs

Mastercard AI Modeling Capability Enhances MPI Solution
Highlighting success stories to inspire more women to create their own – equipped with the right skills and network

In Vietnam, 27% of all businesses are owned by women (Mastercard Index of Women Entrepreneurs, 2019). To highlight these success stories, and inspire other women to make their own, Mastercard and CARE make use of a common item outside of many shops in Vietnam – the outdoor umbrella.

Umbrellas of Pride turns this familiar furnishing into symbols of female entrepreneurship. Proudly displaying “This business is woman-owned”. A beacon of representation and possibility. With each umbrella telling the story of the woman behind the business, and informing readers of the support, tools, and training that the CARE Ignite program can provide for them thanks to their 5.26M women’s economic empowerment partnership with the Mastercard Center for Inclusive Growth.

For Le Kim Dung, Country Director CARE in Vietnam, the Umbrellas of Pride are an “ingenious way to lift fellow women up.”

Latest Fintech News: Troika Media Group Named Agency of Record for Real Estate Crypto Finance Innovator Balcony DAO

“Fear of failure is the number one barrier among female entrepreneurs in Vietnam – by celebrating and displaying success stories that women can identify with so clearly in the open, we hope to inspire a whole new wave of female entrepreneurship.”

These umbrellas were gifted to the female business owners already enrolled in the CARE Ignite program. Each business owner becomes an Ignite ambassador, helping build a network of support and mentorship.

66% of men are confident they can start a business, in contrast to less than 50% of women – regardless of similar education and experience. Representation is the key to a more equitable future. With women’s stories front and center, more aspiring entrepreneurs, especially female entrepreneurs, can overcome the fears that come with starting a business. The more success stories told, the more we can create.

The Umbrellas of Pride also highlight access to resources and support provided by the CARE Ignite Program for women in Vietnam: Providing financial support, skills training, education, and a vast network of experienced entrepreneurs and mentors, made possible through the partnership with Mastercard.

Latest Fintech News: Hardbacon Launches New Cryptocurrency Tracking Features and Exchange Comparison Tool

“The pandemic has set back recent gains made towards women empowerment, and there is a high risk of women getting left behind. Mastercard is committed to creating an inclusive world that works for everyone, especially women. Women-owned businesses are the heartbeat of every economy and are critical to boosting recovery efforts in Vietnam. Hence, Mastercard is honored to be part of the Umbrellas of Pride campaign that acknowledges the strength, perseverance and success of women entrepreneurs – a vital initiative in creating an equal world post-Covid.”

Winnie Wong, Country Manager, Vietnam, Laos and Cambodia, Mastercard

Latest Fintech News: The Moondate Token Builds a Crypto Tinder for Decentralized Communities in the Crypto Industry

[To share your insights with us, please write to]

Related posts

Voya Financial Completes Transfer of Majority of Allianz Global Investors US Business Begins New Strategic Distribution Partnership

Fintech News Desk

Practifi Announces Integration with Schwab Advisor Center®

Fintech News Desk

Toronto-based Beaver Bitcoin Launches Weekly Bitcoin Buys For Canadians

Fintech News Desk