Standard Chartered Bank has launched its Women in Tech (WiT) Incubator Programme in South Africa, aimed at empowering and supporting women entrepreneurs in the technology sector.
Through the Women in Tech programme, the bank aims to create an inclusive environment where women can thrive, excel, and contribute to the tech industry. The bank will provide R 2.7 million (USD 150,000) worth of funding to support this initiative.
Standard Chartered also announced that it has partnered with WomHub on this initiative. WomHub is a global ecosystem builder that advances gender equality and women in STEM, from attraction to ownership and capital.
The Women in Tech programme will provide a platform for aspiring women entrepreneurs in South African STEM (Science, Technology, Engineering, Manufacturing) industries, developing their innovative tech-based business ideas and accelerating their growth. It will also offer a comprehensive range of resources, including mentorship, training, networking opportunities, access to funding, and a supportive community of like-minded individuals.
The incubator will leverage Standard Chartered’s expertise in financial services, technology, and innovation to provide participants with insights and guidance. Participants will have access to a network of industry experts, successful entrepreneurs, and investors who will offer their knowledge and experience to help the participants turn their ideas into viable businesses.
“We are excited to launch the Women in Tech Incubator Programme in South Africa,” says Kweku Bedu-Addo, CEO at Standard Chartered Bank. “We firmly believe empowering women in technology is crucial for driving economic growth and innovation. This programme aims to provide the necessary support, resources, and opportunities for women entrepreneurs to flourish and make a meaningful impact in the tech industry.”
Standard Chartered Bank’s partnership with WomHub aims to address the unique challenges faced by women in various domains, including entrepreneurship, technology, leadership, and personal development. Through a comprehensive curriculum, mentorship, and networking opportunities, the initiative aims to cultivate a supportive ecosystem that enables women to thrive and overcome barriers that hold them back.
“Our partnership with Standard Chartered Bank’s Women in Tech Incubator Programme is truly remarkable. The received funds will empower our organisation with the tools they need to break free from limitations and create a better future for themselves, their families, and their communities. Our commitment as agents of change and a champion for women’s empowerment, is further reinforced,” says Naadiya Moosajee, co-founder of WomHub.
The Standard Chartered Women in Tech Incubator Programme is open to female entrepreneurs with innovative technology-based business ideas or startups in South Africa. Applicants will experience a rigorous selection process, after which a cohort of successful candidates is chosen to participate in the intensive 12-week programme that sees them receiving a combined R90 000.00 ($50 000) in seed money.
During this period, the participants will undergo a 12-week hands-on training, mentorship, and guidance from industry experts. They will also have the opportunity to network with potential investors and partners to help them secure funding and scale their businesses.
Applications for the Standard Chartered Women in Tech Incubator Programme are now open to South African women-led tech startups. Interested candidates can apply through the WomHub website www.womhub.com to submit their applications. The application process will include an evaluation and selection process conducted by a panel of experts from Standard Chartered Bank and the local tech industry.