Nairobi, October 8, 2024 — Standard Chartered Kenya, in collaboration with @iBizAfrica at Strathmore University, has awarded KES 8.75 million to seven women-led startups focused on sustainability. This funding is part of the seventh cohort of the Women in Tech Incubation Program, themed “Empowering Women for a Sustainable Future.”
The award ceremony featured prominent figures, including Standard Chartered Bank’s CEO and Managing Director, Kariuki Ngari, and Strathmore University Vice Chancellor, Dr. Vincent Ogutu. Ngari expressed pride in the program, stating, “These remarkable entrepreneurs exemplify the spirit of innovation and resilience that Standard Chartered champions. Our commitment remains steadfast in nurturing and expanding this vibrant community of trailblazers.”
The Women in Tech program emphasizes Environmental, Social, and Governance (ESG) practices, urging startups to adopt sustainable business models aligned with Kenya’s and global objectives for People, Planet, and Profit. This year, the initiative attracted over 130 applications, with 15 startups selected for business incubation based on their innovative use of technology and commitment to sustainability.
The seven awarded startups include Moma Renewable Energy, Hayah Cradle to Bloom, Zidallie, Gwiji for Women, Zaoshinani, AerialGIS, and PsychCare Clinic. These businesses were recognized for their innovative solutions addressing socio-economic needs in Kenya, aligning with Sustainable Development Goals (SDGs), and utilizing emerging technologies such as IoT, AI, and blockchain.
Dr. Ogutu highlighted the program’s impact, noting that it has graduated 64 women-led businesses over the past seven years, with 32 receiving seed funding of KES 1.3 million each. “Investing in women is like activating a lever that drives exponential growth, impact, and sustainability,” he stated.
The selected startups underwent 12 weeks of incubation training, focusing on sustainability practices, financial modeling, and ESG integration, empowering them to create impactful businesses. The rigorous selection process involved industry experts evaluating solutions, market opportunities, and social impact.
Since its inception, the Women in Tech program has attracted over 2,250 applications, providing mentorship, coaching, and access to seed capital to women entrepreneurs, further strengthening their businesses to meet international standards.