In a move designed to foster innovation, sustainability, and the advancement of women in the business and technology sectors, Standard Chartered Kenya, in collaboration with @iBizAfrica-Strathmore University, has awarded Ksh 8.75 million to seven women-led startups in the sustainability sector. This award ceremony marked the culmination of the seventh cohort of the Women in Tech Incubation Program, an initiative that seeks to nurture female entrepreneurs and foster sustainable economic development through technological innovation.
Themed “Empowering Women for a Sustainable Future,” the award ceremony was presided over by top figures, including Kariuki Ngari, the CEO and Managing Director of Standard Chartered Bank Kenya and Africa, Joyce Kibe, the Head of Corporate Affairs, Brand, and Marketing at Standard Chartered Kenya and Africa, Strathmore University Vice Chancellor Dr. Vincent Ogutu, and @iBizAfrica-Strathmore University Director Dr. Joseph Sevilla. The event was a testament to the bank’s dedication to not only promoting technological advancement but also creating a sustainable and inclusive future where women play a pivotal role in driving progress.
Women in Tech Program: A Platform for Women Entrepreneurs
The Women in Tech Incubation Program is a critical component of Standard Chartered Kenya’s broader strategy of supporting and scaling women-led enterprises. Through this initiative, the bank is leveraging its resources, networks, and expertise to support women entrepreneurs who are innovating in the tech sector. Kariuki Ngari, CEO of Standard Chartered Kenya and Africa, noted during the ceremony:
“We are immensely proud to witness the graduation of the seventh cohort of our Women in Tech program. 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.”
Since its inception, the program has attracted over 2,250 applications, trained 77 women-led startups, and provided seed funding to 32 businesses, including the seven startups awarded in this year’s cohort. The incubation program not only offers financial support but also provides mentorship, business advisory services, coaching, networking opportunities, and access to investor forums. This comprehensive support ensures that the startups are well-positioned to scale and meet international standards of operation.
A Focus on Sustainability and ESG Principles
This year’s program placed a particular emphasis on Environmental, Social, and Governance (ESG)-driven entrepreneurship. As awareness of ESG principles continues to grow across Africa, there has been an increasing focus on investments that create positive social and environmental impacts. The Women in Tech Incubation Program highlighted this by urging the selected startups to adopt sustainable business models that align with both Kenya’s and global objectives focused on “People, Planet, and Profit.”
The seventh cohort attracted over 130 applications from Kenyan women-led startups. Of these, 15 were selected for business incubation, focusing on how they could leverage technology to provide innovative, sustainable solutions. These startups represented a wide array of industries, including agritech, health tech, tourism, bio-fuel tech, recycling tech, and e-commerce. All shared a common commitment to addressing the triple bottom line of profitability, environmental sustainability, and societal impact.
“Through the partnership between @iBizAfrica Strathmore University and Standard Chartered, the Women in Tech program has over the past seven years graduated 64 women-led businesses, with 32 receiving seed money of Ksh 1.3 million each. Investing in women is like activating a lever that drives exponential growth, impact, and sustainability,” said Dr. Vincent Ogutu, Vice Chancellor of Strathmore University.
The Role of Technology in ESG-Driven Entrepreneurship
One of the central themes of the Women in Tech Incubation Program is the use of cutting-edge technology to address pressing social and environmental challenges. The selected startups exemplified this through their innovative use of emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Cloud Computing, and Blockchain. These technologies not only allow the businesses to scale efficiently but also provide the tools necessary to develop solutions that are both impactful and sustainable.
Over the 12-week incubation period, the 15 selected startups underwent rigorous training in areas such as sustainability practices, financial modeling, product development, business modeling, and ESG integration. This training was designed to empower the entrepreneurs with the knowledge and skills necessary to create businesses that are both profitable and socially responsible.
After a rigorous selection process, the seven women-led startups that received the Ksh 8.75 million award were chosen based on their potential for social and economic impact in Kenya, alignment with Sustainable Development Goals (SDGs), and innovative use of emerging technologies. These startups included Moma Renewable Energy, Hayah Cradle to Bloom, Zidallie, Gwiji for Women, Zaoshinani, AerialGIS, and PsychCare Clinic.
The Startups: Shaping the Future of Sustainability
The seven women-led startups chosen for funding this year are at the forefront of innovation and sustainability in their respective industries:
- Moma Renewable Energy is focused on providing sustainable energy solutions, addressing the critical need for affordable and clean energy in underserved communities.
- Hayah Cradle to Bloom operates in the health tech space, utilizing technology to improve maternal and child health outcomes, with a focus on sustainability and scalability.
- Zidallie leverages e-commerce platforms to promote environmentally friendly products, connecting consumers with sustainable alternatives to traditional goods.
- Gwiji for Women is a social enterprise aimed at empowering women through technology, providing employment opportunities while addressing social needs in underprivileged communities.
- Zaoshinani operates within the recycling tech sector, innovating ways to reduce waste through advanced recycling methods, contributing to environmental preservation.
- AerialGIS utilizes drone technology and Geographic Information Systems (GIS) to provide innovative solutions for urban planning, agriculture, and environmental conservation.
- PsychCare Clinic is focused on mental health, utilizing AI and telemedicine to make mental health services more accessible and affordable in Kenya.
These startups not only align with the United Nations’ Sustainable Development Goals but also demonstrate the power of female entrepreneurship in driving technological innovation and sustainability.
The Broader Impact of Women-led Startups in Kenya
Women-led startups in Kenya are increasingly recognized as critical drivers of economic growth and social change. By leveraging technology to address societal challenges, these entrepreneurs are helping to reshape industries and create a more inclusive and sustainable future. The Women in Tech Incubation Program has played a pivotal role in this transformation, providing a platform for female entrepreneurs to thrive in a traditionally male-dominated tech industry.
Kariuki Ngari’s words during the award ceremony encapsulate the broader vision of the program:
“Our commitment remains steadfast in nurturing and expanding this vibrant community of trailblazers, who are not only shaping the tech industry but are also actively crafting a sustainable future for all.”
As Kenya continues to embrace ESG principles and the global economy shifts toward more sustainable models of development, programs like Women in Tech will be essential in ensuring that women entrepreneurs are at the forefront of this transition. By supporting women-led startups, Standard Chartered and @iBizAfrica are not just investing in businesses but in the future of Kenya’s economy, society, and environment.
Conclusion
The success of the seventh cohort of the Women in Tech Incubation Program highlights the potential of women entrepreneurs to drive meaningful change through technological innovation and sustainability. By awarding Ksh 8.75 million to seven exceptional startups, Standard Chartered and @iBizAfrica are reaffirming their commitment to creating a future where women, technology, and sustainability converge for the benefit of society and the planet. As these startups continue to grow and scale, they will undoubtedly inspire a new generation of women leaders, innovators, and changemakers.
