Cartier proves that women might be the ones who’ll actually save the world—and this Filipina is one of them.
The 2019 Cartier Women’s Initiative Award has finally revealed 7 laureates who’ll receive USD 100 thousand at the annual awarding ceremony. Held at the Fort Mason Center for Arts & Culture in San Francisco, the women were honored for creating startup businesses that serve as catalysts for change and growth within their communities and the broader society.
But more than that, among the seven awardees of the prestigious competition, is actually a Filipina. She is none other than Carmina Bayombong who founded InvestEd. It is an investment platform providing student loans to underserved youth using a proprietary credit rating algorithm.
According to Carmina, “I want to see a world where every young person has the opportunity to fulfill their dreams and then help others do the same.” This all started when she was studying industrial engineering. She saw dozens of fellow university students struggling due to financial concerns. “They were taking on extra jobs and failing to meet their academic potential… some even dropped out,” Carmina explained.
To overcome this problem, InvestEd has developed a three-tier platform to select likely candidates, draw investors and ensure repayment. Its proprietary credit-scoring algorithm measures the probability of timely graduation, career success, and non-payment risk. To improve the model, it is reiterated at regular intervals.
Other notable awardees are Yeon Jeong Cho (South Korea), Zineb Agoumi (France), Liza Velarde (Mexico), Hibah Shata (United Arab Emirates), Ran Ma (United States), and Manka Angwafo (Cameroon).
Cyrille Vigneron, CEO of Cartier International, said that given its initiative, “Cartier is reiterating its commitment to women entrepreneurs as well as the ambition to empower them to speak up and reveal their ideas.”
With this initiative of the storied house, these seven laureates prove that with curiosity, audacity, and openness, anyone is able to find solutions addressing some of the world’s greatest challenges.
