Applications for the Standard Chartered Women in Technology Incubator are now open and those interested have the opportunity to get Ksh. 1 million seed grant prize.
The Women in Tech Incubator is an accelerator program that invests in women-led startups. It is a collaboration between the Standard Chartered Bank of Kenya and Strathmore University’s @iBizAfrica incubator. Standard Chartered has set aside Ksh. 20 million.
The incubator programme targets women entrepreneurs who seek to or are using technology to grow their business but lack requisite support.
The incubator is seeking 10 teams that will compete to secure seed funding. This will also include nine months ongoing market support from Standard Chartered and @iBizAfrica. Upon successful application, the 10 teams will be required to pitch their business ideas to a panel of judges. Only the top 5 teams with the most compelling ideas or project will be awarded up to USD 10,000 (which is the equivalent of Ksh.1 million). This seed grant funding is to be used to launch and grow their businesses.
The Standard Chartered Incubator programme is looking to recruit top entrepreneurial minds, women-led startup teams using technology innovatively to run their businesses. Through this, the incubator program will try to address the problem of lack of diversity in technology, especially in the Kenyan tech space.
At the moment, we only have a few brilliant Kenyan women in the tech space: hence, Standard Chartered gesture is more than welcome.
Applicants may submit applications across thematic areas listed below:
- Agribusiness
- E-Commerce
- E-Health
- Digital Banking
- Education
- IT
- Mobile solutions
To participate in the Standard Chartered Women in Technology Incubator program, the principal founder of the company must meet the following criteria.
- Be a woman
- 18 and 35 years of age
- Be a Kenyan national
Who can apply?
If you are a woman and a principal founder of a women-led team, you must meet the following eligibility criteria:
- Business must have been operations for at least 3 months and less than 2 years
- Run a business that solves a local problem (Kenya)
- Must be using technology innovatively to run your business across any of the listed thematic areas
- Must be a women-focused business such that a woman has majority share in the company
- Business must focus on sustainability and be aligned to the sustainable development goals
- Present pre-revenue with early traction. Those who provide post-revenue have an added advantage
- Not received an investment of over Ksh. 500,000 and not participated in a similar program in the last 2 years.
What else is in it for participants?
In addition to the Ksh. 1 million grand prize, participants stand to gain in other ways. These include:
- Three months of valuable incubation at the Strathmore University’s tech incubator
- Mentorship and coaching by renowned mentors and top business and technology professionals respectively.
- Access to extensive entrepreneurship curriculum. This will be an opportunity to acquire and develop entrepreneurial and leadership skills.
- Business networks
To apply for the Women in Technology Incubator programme or learn more, visit the website.
Applications close on the 13th of November, 2017.
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