StanChart Bank Kenya(SCBK) has rolled out the 5th edition, a program that will see 5 women-led startups get KSh 1 million in seed fund each and post-incubation support in mentorship from StanChart and the Strathmore Business School.
Eligible businesses that join the incubator programme must be based in Kenya, tech-enabled, and founded or co-founded by a woman with an equal or majority stake.
The founder or co-founder must be over 18 years old. The business models must focus on sustainability and alignment to the Sustainable Development Goals(SDGs) and must have been in operation for between 3 months and two years.
Women-led tech startups that join the program will gain 12 weeks of immersive learning, coaching & B2B networking; Ksh 1Million equity-free grant seed funding; opportunity to join the alumni network, and nine months of support to assist with the go-to-market.
The StanChart Bank Kenya WomenInTech program is an initiative to support women-led start-ups that utilize technology to drive productivity, with training, mentorship & seed funding of $10,000 for five selected businesses. Registration for Cohort 5 is now open.
StanChart Bank Kenya has partnered with @iBizAfrica-Strathmore University to roll out this 5th cohort of the Women in Tech incubator programme.
Advancing global trends in women-owned businesses is the programme’s theme this year.
According to Kariuki Ngari, Chief Executive Officer (CEO) Standard Chartered Bank, SMEs contribute to 70 percent of jobs and are a massive facilitator of economic growth.
He said Women-led businesses make a considerable number of SMEs, and it is crucial that they are well-positioned.’
The SCBK 5th cohort of the Women in Tech programme will choose ten applicants to participate in the twelve-week incubation programme.
Participants will be trained by@iBizAfrica-Strathmore University network of faculty, experienced mentors and professionals, and key industry experts.
During the incubation, participants will get lessons on idea conceptualization, strategy formulation, and marketing, which is essential in moving the businesses from incubation to sustainable ventures.
Launched five years ago, the Women in Tech program has received over 1,150 applications so far.
Of the applicants, 41 businesses have gone through the program, with 20 teams being awarded US$ 10,000 each in seed money. Winning teams have ranged from e-commerce platforms to food supply and nutrition, beauty care, education, insurance.