Standard Chartered Bank has opened the search for young enterprising females to be admitted into the fourth cohort of the Women in Tech programme.
The call for applications comes in the wake of grim startup statistics where studies show that while sub-Saharan Africa boasts the world’s highest rates of women entrepreneurs at 27 per cent, female-led tech startups still have some of the lowest numbers across the continent.
This is despite technology firms led by women tending to do better than men led, with most experiencing a 35 per cent higher return on investment.
“The program theme for this year, 'Accelerating the Digital Economy through Women Owned Businesses' reinforces the importance of scaling the gains of female focused entrepreneurial programs and expanding their mandate in bridging financing and industry gaps for early-stage ventures,” said a joint statement by Stanchart and Strathmore.
The two institutions plan to select and take the qualifying entrepreneurs through a 12- week mentorship where the participants will be alternating between Stanchart’s Women in Tech accelerator and Strathmore’s iBizAfrica hub.
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“Through the incubation, all the entrepreneurs are offered expert training in the areas of idea conceptualization, strategy formulation, and marketing which is key in moving the businesses from incubation to sustainable ventures,” noted the hubs.
“We want to focus on scaling women-owned businesses which are building technology apps and technology-enabled solutions, ranging from but not limited to Internet of things (IoT), Artificial Intelligence, Robotics, Augmented and Virtual reality, 3D and 4D Printing, Cloud Computing, Big Data, Blockchain and Biometrics, and other IT areas,” said Strathmore University iBizAfrica Director Joseph Sevilla .