Standard Chartered Kenya has granted a total of Sh9.8 million in seed funding to seven women-led startups under the Women in Tech program.
This initiative, in partnership with the iBizAfrica Incubation Centre at Strathmore University, supports women in technology and attracted 15 female-led startups under the theme ‘Leveraging Technology for Impact’.
The funded startups include Sign with Us, Instruct Africa, Saidiwa Rides, PanaCare, Imani Health, Know Learning Limited, and Rhea Soil Health Management. Each will receive Sh1.4 million (USD 10,000) in seed funding from the bank.
Kariuki Ngari, Managing Director and Chief Executive Officer of Standard Chartered Kenya stated that supporting women-led enterprises is a key component of their ambition to impact and influence the growth of the SME sector.
The Women in Tech Program was launched in March 2023 and attracted over 250 startups from various sectors. Fifteen female-led startups were shortlisted and underwent a three-month incubation covering modules such as business plan ideation, strategy formulation, the Internet of Things (IoT), marketing, big data, and artificial intelligence.
Since its inception, the program has trained more than 64 women-led businesses by offering mentorship, advisory services, coaching, networking opportunities, access to seed capital, and investor forums. To date, 32 startups have been awarded over Sh1.2 million (USD 10,000) each in seed funding.
Vincent Ogutu, Vice Chancellor of Strathmore University, emphasized the value of academia and private sector collaboration for programs that support women-led businesses.