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Visa and HBL’s 2025–26 She’s Next program in Pakistan offered five women entrepreneurs grants of USD 10,000 each, along with training, mentoring, networking and access to She’s Next Club resources. Applications closed on December 24, 2025, and Visa announced the five winners on February 9, 2026. The cycle is over; the sources reviewed do not announce a new application window.
What was She’s Next in Pakistan?
She’s Next was a Visa initiative run in Pakistan in partnership with HBL to support women entrepreneurs. HBL announced the program’s return on November 10, 2025, inviting applications for a cycle that combined grant funding with business-development support. It was a competitive grant program, not a loan: five selected winners received funding, and the announcements do not say that every applicant received money.
Alongside the grants, the program offered tailored training, mentoring, networking and She’s Next Club resources, including a workshop library and entrepreneur community. The combination matters: the offer was not simply five cash awards, but a chance for selected participants to access business-development resources as well.
What did the 2025–26 cycle offer?
| Program detail | What was announced |
|---|---|
| Number and size of grants | Five grants of USD 10,000 each, or USD 50,000 in total across the five awards. |
| Additional support | Tailored training, mentoring, networking, and She’s Next Club resources, including a workshop library and entrepreneur community. |
| Application deadline | December 24, 2025. |
| Selection process | Application screening, shortlisting ten finalists, and choosing five winners after finalist pitches. |
The grant amount and application deadline were stated in the HBL relaunch announcement; the selection structure and scoring were set out in the official contest rules.
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Who won the She’s Next Pakistan grants?
Visa announced the winners on February 9, 2026, following a program it described as a three-month cycle that began in November 2025. The five named winners were:
- Aiman Shafique of EV Square
- Anusha Fatima of TrashIt
- Fizza Hussain of Khaas Foodz Kitchen
- Maira Siddiqui of Chiragh Education Technologies
- Meesha Baig of Goud
Visa said the businesses represented sectors including education, waste management, gaming, beauty and healthcare. TrashIt founder Anusha Fatima also received the Sustainability Award, which Visa said was introduced for the first time in that year’s program. These details appear in Visa’s winners announcement.
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How were applicants judged?
The contest rules assigned up to 20 points to each of five areas, for a maximum of 100 points across the listed criteria:
- The strength of the applicant’s entrepreneurship story
- Business metrics
- The business’s digital presence
- The problem the business was solving
- The quality of written materials and/or visual media
The rules described shortlisting ten finalists and selecting five winners after finalist pitches. They also required a valid CNIC as proof of identity, limited entries to one per person, and specified requirements for original, accurate submissions and supporting media. Applicants considering a future cycle should consult the rules for its exact eligibility and submission requirements; the 2025–26 rules do not establish terms for a later round.
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What did Visa report about applicants and women-owned businesses?
Visa reported that the 2026 edition attracted “almost 3,500” applications. That is Visa’s reported figure, not an independently audited applicant count in the materials available.
Visa’s winners announcement also summarized results from its Women SMB Digitization Index, which it said surveyed Pakistani women business owners. The release reported that 49% used natural-language-processing tools such as ChatGPT; 43% used data analytics and pattern-recognition tools; and 43% used chatbots or virtual assistants. It also reported that 40% relied on business mentors or coaches for advice, 39% cited financial independence as a reason for starting a business, and 24% cited creating a supportive workplace for women.
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Visa described five indicators in the index: online presence, digital-payment acceptance, payment-security awareness, customer engagement and customer retention. Its announcement did not give the survey’s sample size or enough methodological detail to establish whether the findings represent all women business owners in Pakistan. Treat the percentages as figures Visa reported from its index, not as population-wide estimates.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is She’s Next open for applications now?
No. The announced deadline for this cycle was December 24, 2025, and the winners were announced on February 9, 2026. The materials reviewed do not announce a later cycle or deadline. For any future opportunity, check Visa’s or HBL’s official channels rather than relying on the expired application dates or assuming the same rules will apply.
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What the announcements do—and do not—show about impact
The program’s design and results are documented as a set of grants and support services, with a published scoring framework and named winners. The available announcements do not provide an independent evaluation showing that the initiative caused business growth or improved participants’ financial outcomes. Visa’s statements about the businesses of previous winners should therefore be understood as Visa’s account, not an independently measured impact finding.
HBL Head of Products & Payments Aamir Kureshi said, “As businesses scale, access to the right financial tools, payment solutions, and advisory support becomes essential to managing growth sustainably.” Visa Vice President and Group Country Manager for North Africa, Levant and Pakistan Leila Serhan said the finalist pitches “showcase the highest ambition among women entrepreneurs in Pakistan.” Both are attributed statements from program representatives, rather than independent assessments of the program.
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