Kenya’s Standard Chartered Bank has rewarded seven outstanding
women-led businesses with USD 70,000, each receiving USD $100,000 in its 6th cohort Women in Tech Incubator program.
At an event held in collaboration with iBizAfrica Incubation
Center of Strathmore University on the theme ‘Leveraging Technology for Impact’,
the program not only recognized their achievements but also highlighted the
pivotal role of technology in shaping Kenya’s entrepreneurial landscape.
The seven startups honored at the ceremony showcased
exceptional prowess across three key criteria. Firstly, they addressed crucial
socio-economic needs in Kenya, demonstrating their commitment to making a
positive impact. Secondly, these innovative startups leveraged cutting-edge
technologies including Internet of Things (IoT), Artificial Intelligence,
Augmented and Virtual Reality, Cloud Computing, Blockchain, and Biometrics.
Lastly, their business models were meticulously aligned with Sustainable Development
Goals (SDGs), reflecting a strong sense of social responsibility.
Launched in March 2023, the Women in Tech program attracted an
impressive array of over 250 startups spanning sectors like agriculture,
finance, transportation, health, and construction. From this pool, 15
exceptional women-led startups were selected for a rigorous 3-month incubation
program. These entrepreneurs underwent intensive training in vital areas such
as business idea conceptualization, strategy formulation, Internet of Things
(IoT), marketing, Big Data, and Artificial Intelligence, empowering them to
transform innovative ideas into thriving businesses.
The Managing Director and Chief Executive Officer of Standard
Chartered Bank Kenya, Kariuki Ngari said “Supporting women-led enterprise is
a key component of our ambition to impact and influence the growth of the SME
sector, and the Women in Tech program enables us to bring this vision to life.
We have been able to catalyze growth through our latest cohort and are
confident that the entrepreneurs who have gone through the program will be
better positioned to take up the opportunities in across the various sectors
that they serve.”
Since its inception, the Women in Tech Incubator program
has been a beacon of hope for aspiring female entrepreneurs. More than just a
funding platform, it has provided mentorship, advisory services, coaching,
networking opportunities, and access to seed capital. To date, this program has
empowered over 64 women-led businesses, molding them into international
standards. Notably, 32 startups have received over KES 1.2 million (USD 10,000)
in seed funding, with the first five cohorts alone attracting over 2,000
applications.
By: Kanto Okanta
