Standard Chartered Kenya, in partnership with @iBizAfrica – Strathmore University, has awarded Ksh. 8.75 million to seven women-led startups focused on sustainability. The funding, part of the seventh cohort of the Women in Tech Incubation Program, will help scale up businesses that combine technological innovation with sustainable solutions.
The 2024 program, themed “Empowering Women for a Sustainable Future,” attracted over 130 applications from Kenyan women-led startups. Fifteen were selected for a 12-week business incubation training, with seven ultimately receiving funding. The chosen startups span various sectors, including renewable energy, agriculture, transportation, and mental health.
Kariuki Ngari, Managing Director and CEO of Standard Chartered Kenya and Africa, emphasized the program’s impact, stating, “Each of these remarkable entrepreneurs exemplifies the spirit of innovation and resilience that Standard Chartered champions. As we celebrate their achievements today, we are reminded of the pivotal role that technology and female leadership play in driving sustainable economic growth.”
The program’s selection criteria focused on businesses that address social and economic needs in Kenya, align with Sustainable Development Goals, and make use of emerging technologies such as AI, IoT, and blockchain.
Among the funded startups is Moma Renewable Energy, which produces liquid renewable fuels from food waste and by-products. Another recipient, Hayah Cradle to Bloom, developed an AI-powered platform to educate and empower mothers.
Dr. Vincent Ogutu, Vice-Chancellor of Strathmore University, stressed the program’s broader impact, saying, “Through the partnership between @iBizAfrica Strathmore University and Standard Chartered, the Standard Chartered WomenInTech program has over the past 7 years graduated 64 women-led businesses, with 32 receiving seed money of KES. 1.3 million each. Investing in women is like activating a lever that drives exponential growth, impact, and sustainability.”
Since its inception, the Women in Tech program has attracted over 2,250 applications and trained 77 women-led startups. It offers mentorship, business advisory, coaching, networking opportunities, and access to seed capital and investor forums.
The program’s focus on sustainability and ESG practices shows a growing trend in Africa’s startup ecosystem. By supporting women-led businesses that prioritize the triple bottom line of profit, planet, and people, Standard Chartered and @iBizAfrica are contributing to Kenya’s larger economic and environmental goals.
