Standard Chartered Bank in partnership with @iBizAfrica Strathmore University calls for women to apply for the 5th cohort of the Women in Tech incubator program after its launch on Wednesday, March 9.
The Women in Tech program is part of Stanchart’s community engagement initiative, Futuremakers, that aims to tackle inequality and promote greater economic inclusion for young people in various communities and economies with more attention being shed on girls and women.
With this year’s program themed “Advancing global trends in women-owned businesses” the initiative aims at championing for more diversity in technology and for more opportunities for women to advance entrepreneurial and leadership brilliance.
Speaking during the launch in Strathmore University, the Chief Administrative Ministry of ICT Maureen Mbaka noted that the program will boost the advancement of women in the global markets and position them on a higher scale in business.
“Such programs encourage the use of global trends in boosting the success in business ventures and I call upon a dialogue between key stakeholders and the government to ensure that we achieve this goal,” said the CAS.
Mbaka further noted that technology is key to social and economic growth in the country as stated in the economic blueprint for vision 2030 and women businesses were essential in promoting Small and Medium Enterprises (SMEs) since they create an approximate 70 percent of jobs and generate over 40 percent towards the general economic growth of the country.
Standard Chartered bank Chief Executive Kariuki Ngari said that a strong SME ecosystem supported by access to capital and capacity building will be integral and women led businesses account for a substantial number of SMEs and it would be vital that they are well positioned for growth.
“Without SMEs, there would be a low level of innovation, economic productivity and global competitiveness. Therefore, as the country inches towards economic recovery, a strong SME ecosystem supported by access to capital and capacity building will be integral,” noted Ngari.
Women in Tech 5th Edition will choose 10 applicants to participate in the 12-week incubation program.
In this period, entrepreneurs will undergo training, coaching and mentorship offered by the @iBizAfrica- Strathmore University network of industry experts, experienced mentors, business leaders and professionals where all the businesspersons will get expert training in the areas of idea conceptualization, business planning, advertising and marketing which is key in moving the businesses from incubation to sustainable projects.
Since its launch in 2017, in 4 cohorts, the Women in Tech program has gotten 1,150 applications which has seen 41 businesses go through the training.
From the 4 cohorts, 20 businesses have been awarded $10,000 in seed capital.
