Standard Chartered Picks 10 Startups for Women in Tech Programme
Standard Chartered (LON: STAN ) Bank in partnership with @iBizAfrica- Strathmore University has shortlisted 10 start-ups for the Women in Tech programme. The Programme targets women-led start-ups that are looking to scale up their business through technology.
Standard Chartered Women in Tech (WiT) support female-led entrepreneurial teams with business management training, mentoring, and seed funding. This year’s top 10 teams were selected from a pool of over 350 start-ups that had applied for the programme.
The entrepreneurs will go through 12 weeks of mentorship @iBizAfrica where they will be offered expert training in the areas of business idea conceptualization, strategy formulation and marketing which is key in moving the businesses from incubation to sustainable ventures.
Dr. Joseph Sevilla, Director of @iBizAfrica- Strathmore University the incubator program for female-led Startups in the ICT sector envisaged transforming Kenya through innovation.
“It’s remarkable how far we have been able to come on this journey of nurturing women-led entrepreneurial visions from the idea stage to marketable and scalable ventures through our coaching and mentoring sessions on entrepreneurial skills,” he said.
Sevilla added that the program, which is in its 5th cohort, has helped transform Kenyan women-led startups into fully-fledged businesses that are thriving and contributing to the country’s economy.
Since its inception, the Women in tech program has attracted over 1,800 applicants, trained over 40 entrepreneurs and funded 20 women-led startups through a partnership with the Standard Chartered Bank.
The program seeks to further educate, mentor, coach, and fund more African female entrepreneurs and innovators whilst also providing women-led startups with practical support to grow and develop their businesses beyond East Africa.
“The programme is designed to help address gender disparity in the technology sector and to use technology to tackle social challenges faced by communities. They are an important part of our entrepreneurship offering within Futuremakers by Standard Chartered, our global initiative to tackle inequality and promote economic inclusion and aligns with our stand to lift participation by creating opportunities for women to contribute to the society and economy,” Joyce Kibe, Head of Corporate Affairs, Brand and Marketing Kenya and EA said.
The enterprises were shortlisted based on criteria such as demonstrated capacity to execute, clearly defined roles, balanced skill set (team lead, business development, product development and marketing), leveraging technology, availability of Market opportunity and potential socioeconomic impact in Kenya.
“Representation matters and more so in the technology industry which continues to be a key driver and enabler of growth and innovation. However, women, who constitute a higher percentage of the global population are still underrepresented in this sector owing to financial and capacity barriers,” Kibe added.
“Over the last 4 years, the Women in Tech program has successfully contributed to filling this gap through capacity building and financing, which has seen participants of the program register sustained growth, create jobs and foster innovation through technology. We look forward to supporting this year’s cohort and congratulate the 10 businesses that have been shortlisted,’’ she said.
“Access to finance for women has been and still continues to remain a challenge, with a recent study indicating that 68 percent of Women-led MSMEs in developing countries lack adequate access to finance, representing a 1.5 trillion financing gap. Women-led enterprises account for 48 percent of all micro-small and Medium-sized enterprises (MSMEs) which contribute 20 percent to the overall GDP of Kenya,” Diana Mutua, PR Manager @iBizAfrica- Strathmore University said.
The 10 enterprises who will be starting the 12 weeks of mentorship @iBizAfrica the Women in Tech 2022 are:
3. Aurora Health Systems: A wearable medical device that uses wireless technology to continuously monitor heart rate and abnormal ECG findings. Data is generated in real-time and linked to smartphones for a period of 21 days thus preventing acute cardiac conditions.
4. SowPrecise: A farm management system tailor-made for the African farmers to communicate with farm labourers and help them keep track of farming activities.
5. Learning Differently Limited: A learning intervention platform tailor-made to support students/learners with learning disabilities. The courses/training equips parents, teachers, and caregivers with practical learnings that they can incorporate to support their learners.
6. GoBEBA Everything Ltd: GoBEBA offers online retail of household essentials delivered within an hour. They use technology to provide convenience, reduce costs as well as use machine learning for demand planning and delivery optimization.
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