Standard Chartered women in tech incubator cohort 4 now accepting applications

Standard Chartered Women in tech incubator cohort 4 now accepting applications

Standard Chartered and Strathmore University’s @iBizAfrica have opened applications for the fourth edition of the Women in Tech programme, which provides access to a funding pool of KES5 million (US$46,000) and other benefits.

The programme is targeting women-led small and medium-sized businesses leveraging on technology and new business models to drive change and grow communities.

So far the programme has supported more than 40 entrepreneurs –

The programme theme for this year, “Accelerating the Digital Economy through Women-Owned Businesses”, reinforces the importance of scaling the gains of female-focused entrepreneurial programmes and expanding their mandate in bridging financing and industry gaps for early-stage ventures.

Five selected startups will each receive KES1 million (US$9,000) in seed funding, as well as 12 weeks of mentorship and training. Throughout the incubation period, the entrepreneurs will be offered expert training in the areas of idea conceptualisation, strategy formulation and marketing.

The Standard Chartered Women in Technology Incubator Kenya is Africa’s leading women in tech incubator, aligning with calls for more diversity in technology and for more opportunities for women to develop entrepreneurial and leadership excellence.

The program combines world-class startup support with local and international experience to provide Africa’s most competitive and attractive startup incubation program focusing on immersive learning, mentorship, building and growing Africa’s next iconic startups taking on the continent’s most relevant challenges and opportunities with the support of seed capital.

After the successful rollout of a similar initiative in USA and Kenya, the bank has now rolled out the program in Pakistan, UAE and Nigeria with plans to expand to more countries across Africa and the Middle East.

The Bank first launched the programme to support women in technology in 2014 at the City College of New York where it created the Women Entrepreneurs Resource Centre. The US program includes a dedicated workspace, mentorship, coursework and access to an extensive network designed to support entrepreneurs navigating the challenges of starting a business.

Eligibility Criteria

1. The business must be based in Kenya i.e. be aligned with the needs of Kenyans and operating in Kenya
2. The company must be a tech-enabled and/or leveraging on emerging technologies, including but not limited to; Internet of Things (IoT); Artificial Intelligence; Robotics; Augmented & Virtual Reality; 3D & 4D Printing; Cloud Computing; Big Data; Blockchain; Drone Technology and Biometrics.
3. The company must be founded or co-founded by a woman with an equal or majority stake.
4. The founder or co-founder must be over 18 years old and Kenyan
5. Business models must have a clear focus on sustainability and alignment to the Sustainable Development Goals (SDGs).
6. 3 months to less than 2 years of operations.
7. Seeking support for proof of concept, customer, product and business model development.
8. Pre-revenue with early traction (users).
9. Post revenue is an added advantage, with the creation of a new business module.

Program Thematic Areas

Companies solving for any of the 17 SDGs with operations within, but not limited to the following sectors are eligible to apply for the programme;

1. Agriculture
2. Healthcare
3. Education
4. Manufacturing
5. Information Technology
6. Financial Services
7. Logistics

Programme Benefits

1. 12 weeks of an immersive learning experience
2. Access to a leading network of coaching experts
3. Access to B2B networking opportunities
4. Personalized mentorship sessions to address your unique business needs
5. Opportunity to join a supportive Women in Tech Alumni Network
6. KES 1,000,000 equity-free grant seed funding for the top five finalists
7. 9 months ongoing support from Standard Chartered and @iBizAfrica to assist with the go-to-market and scale for the top five finalists.
   

Terms and Condition

Successful completion of the Women in Tech Virtual Incubation Program is compulsory. If a physical meetup is necessary, government regulations on COVID-19 health measures MUST be observed.

The application deadline for the competition is on 15th December. Get more details about the competition and how to apply here