Stanchart invites applicants for 5th cohort of women in tech program

NAIROBI, Kenya, March 10 – Standard Chartered Bank in partnership with Strathmore University Thursday launched the fifth cohort of the Women in Tech incubator program which will choose 10 applicants to participate in the 12-week incubation program.

The program aims at championing more diversity in technology and for more opportunities for women to develop entrepreneurial and leadership excellence.

This is aligned to emerging global trends as well as local post-pandemic recovery efforts that have signaled that businesses will need to adopt these trends for sustainable growth.

Speaking during the launch, Kariuki Ngari Chief Executive Officer (CEO), Standard Chartered Bank said the program seeks to drive this change by allocating funding and incubation support that drives innovation, growth, and sustainable business models.

“Women-led businesses account for a substantial number of SMEs and it’s therefore crucial that they are well-positioned for growth. To close this gap, there is a need for knowledge building, as well as funding that is customized to remove barriers and eliminate the bias that women founders face,” Ngari said.

“As evidenced with past participants of the program, incubation and funding does not only improve growth prospects for these enterprises but  also contribute to more representation in key emerging sectors such as fintech, Agritechand clean energy tech, which are emerging frontiers for economic growth,” he added.

These selected companies will undergo training, coaching, and mentorship offered by key industry experts, faculty, business leaders, experienced mentors, and professionals.

Emmanuel Kweyu, Deputy Director @iLabAfrica Research and Innovation Centre, Strathmore University said many SMEs are often met with many roadblocks including the lack of infrastructure, knowledge, and funding that would enable them to scale.

“@iBizAfrica recognizes this and wants to bridge this gap by equipping women-led businesses with the resources they need to sustain their growth and accelerate innovation,” he said.