Standard Chartered Bank

May 12, 2023 Mary

WiT aims to elevate female-owned South African businesses.
The programme will see female-owned businesses access business mentoring and incubation.
Five finalists will receive USD10,000 each in seed money.

Standard Chartered Bank is proud to announce the launch of its Women in Tech (WiT) Incubator Programme in South Africa, aimed at empowering and supporting women entrepreneurs in the technology sector. WiT is part of the bank’s commitment to fostering gender equality and driving innovation in the rapidly evolving technological landscape.

As one of the leading global banks, Standard Chartered recognises the immense potential of women in this sector and understands the importance of bridging the gender gap. 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 today 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.

Investing in the future of South African women

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 valuable 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,” stated 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.”

Cultivating a supportive ecosystem

Standard Chartered Bank’s partnership with WomHub is designed 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, at WomHub.

“WomHub is a groundbreaking ecosystem builder aimed at equipping women with the necessary skills, knowledge, and resources to excel in today’s rapidly changing world. We firmly believe that investing in women’s empowerment is not only a moral imperative but also an economic necessity. By providing women with opportunities to gain new skills and unleash their potential, we are paving the way for a more inclusive and prosperous society,” adds Moosajee.

Apply for the 2023 Standard Chartered Women in Tech Incubator Programme today

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 R900,00.00 ($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.

The South African launch of the Women in Tech Incubator Programme demonstrates Standard Chartered’s commitment to driving gender equality, promoting diversity, and supporting women in technology. By empowering women entrepreneurs, the bank aims to contribute to the growth of the local tech ecosystem and foster a more inclusive and innovative society.

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 a meticulous evaluation and selection process conducted by a panel of experts from Standard Chartered Bank and the local tech industry.

Futuremakers by Standard Chartered Bank

The “Futuremakers by Standard Chartered Women in Tech” programme is a component of the bank’s Futuremakers by Standard Chartered project, which aims to reduce social inequality among underprivileged youth by helping girls and individuals with disabilities study, earn, and develop. The initiative focuses on education, employability, and entrepreneurship to empower the next generation.

For more information about Futuremakers and the Standard Chartered Women in Tech Incubator Programme, including application details and eligibility criteria, please visit Economic Inclusivity with Futuremakers | Standard Chartered (sc.com).