Standard Chartered Kenya, in collaboration with @iBizAfrica- Strathmore University, has chosen fifteen (15) startups led by women to participate in the Women in Tech Program.
These selected startups will undergo a 12-week business incubation training program, with seven of them receiving $10,000 each in funding to support their business growth.
The Women in Tech (WiT) program by Standard Chartered provides support to female-led entrepreneurial teams through business management training, mentoring, and seed funding.
Out of over 250 startups from various sectors such as agritech, fintech, healthcare, mobility tech, disability tech, and construction, the top 15 teams were chosen based on their ability to address real problems, integrate technology, provide innovative solutions, demonstrate marketability, sustainability, scalability, and align with the program’s theme of “Embracing equity in the tech ecosystem.”
The startups were also required to focus on any of the 17 Sustainable Development Goals and showcase their impact on Kenyans.
The panel of judges included notable figures such as John Katango, Corporate Social Responsibility (CSR) Leader for Middle East and Africa at IBM, and Murigu Wairimu, a seasoned banker and Managing Director Head of Transaction banking for the East Africa business at Standard Chartered Bank.
This year’s program has increased the number of incubated businesses from the previous cohorts, where 10 businesses were supported and 5 startups from each cohort received funding.
The rigorous selection process required the chosen teams to demonstrate execution capacity, potential to address socio-economic challenges in Kenya and a balanced skill set among team members. The teams were also expected to leverage technology in their solutions.
Standard Chartered’s Head of Corporate Affairs, Brand, and Marketing East Africa, Joyce Kibe congratulated the 15 women-led enterprises for their selection and emphasized the importance of supporting female-led startups, as research showed they received less funding compared to male-led startups in Africa.
She encouraged the beneficiaries to make the most of the program to promote diversity in technology and excel in entrepreneurship and leadership.
Director of @iBizAfrica- Strathmore University, Dr Joseph Sevilla, highlighted the program’s aim to bridge the finance and capacity-building gap for women entrepreneurs.
He said, “As Strathmore University, we are confident that the financial contribution worth $175,000 made by Standard Chartered towards the Women in Tech – cohort 6 program will go a long way in uplifting the participation of marginalized groups, tackling inequality and promoting greater economic inclusion for women entrepreneurs in our country.”
He congratulated the beneficiaries and encouraged them to take advantage of the program’s training, mentorship, and financial literacy to ensure their success. He also called for increased support from men in the technology sector through mentorship and opportunities for women.
The Women in Tech Program focuses on emerging technologies such as artificial intelligence, the Internet of Things (IoT), and big data. It combines business idea conceptualization, strategy formulation, and marketing fundamentals to help startups move from incubation to sustainable ventures. The program is committed to digital integration and supports female entrepreneurs in leveraging technology for business growth.
The 15 selected enterprises that will participate in the 12-week mentorship program at @iBizAfrica in 2023 are:
Ecorich Solutions Limited -A start-up that provides cheap fertilizer. The company has developed a WasteBot decomposer device/smart recycling bin that uses AI-enabled recycling to convert waste to valuable and affordable primary farm fertilizer.
Imani Health Wallet – An e-wallet that enables people to save specifically for healthcare. It breaks down large payments into piecemeal payments that one can pay easily over time before they need the healthcare service.
Sol Active (fusion) – A web platform where landlords can list their empty retail space for free, and brands can book it easily.
Saidiwa (squad) Rides – A hailing app that aims to bridge the gap between unreliable public transportation and relatively expensive digital taxis. It introduces a novel driver-passenger pairing model that permits daily commuters to share taxi seats and share costs.
Ento Farm – A biotechnology company that produces a protein-rich animal feed based on dried, inactive insects that are produced through the fermentation of organic waste.
AgriTech Analytics – They build innovation capabilities of start-ups and aspiring start-ups in Kenyan universities to help geospatial information systems and AgriTech students develop rare and valuable tech skills needed to come up with profitable and sustainable solutions.
Techtenum Minds LTD – An E-learning platform that aspires to raise subject matter experts through bridging the practical skill gap between traditional academic curriculum and the latest job market needs.
MyAfya Africa – A mental health organization and a digital-health company dedicated to revolutionizing the accessibility and availability of mental health services.
Rhea Soil Health Management Limited – An IOT soil analysis device that allows soil testing and agricultural extension services to smallholder farmers. A machine learning algorithm is then powered to make recommendations depending on the data shared.
Know Learning Limited (Recess)– A platform that enables parents to participate in their children’s learning processes by partnering with teachers and schools to improve the learning outcome. It additionally ensures that schools and parents are on the same page through the facilitation of transparent and efficient dialogue on the progress of the child.
Sign with us – A Sign language training institution based in Meru and online. The institution teaches sign language to anyone around the world who has a passion for sign language.
Acre-insights – They use drones and satellites to collect high-resolution data on crop growth and development, soil moisture, and other key indicators. Advanced analytics and machine learning algorithms to interpret this data and provide farmers with actionable insights to make informed decisions about irrigation, fertilizer application, and pest control.
Instruct Africa – They provide affordable legal solutions to professionals in the informal sector.
Panacare- A healthcare company that provides affordable and accessible healthcare services through telemedicine. The company leverages USSD technology to offer consultations, remote monitoring, and tools that help patients manage their health and well-being without the need for internet access or smartphone devices.
Tynka Global – A platform that connects entrepreneurs, experts, and investors, simplifying the process of forming partnerships. The platform’s open database of investors and businesses allows entrepreneurs to showcase their projects and attract potential investors.
Displaying her joy, the Founder of Panacare, Beverly Senda said she looks forward to networking, and gaining mentorship and funding from the program.
“I hope to be among the seven (7) finalists. I need about $150,000 to upscale and acquire about 8,000 patients per year to gain a profit of about 50,000,” said the founder of the health-tech Startup that currently has 11 employees.
Co-founder of RHEA Soil Health Management Ltd, Priscilla Wakarera noted that networking, support and mentorship are what they want to gain from the incubation program.
She said, “We need about Sh3 million for marketing and hiring agents. Currently, we are operating in Nairobi, Kiambu, Murang’a, Nyeri, Narok, KajiadoSouth and Machakos counties, but we need to expand.” Ms Wakarera noted that the farm anticipates launching a Fertilizer Recommendation System in September.
The agritech startup currently has 7 employees.
Farhia Elmoge, founder of Sol Active (Fusion) said her firm is envisioning to become “The Airbnb for retail in Africa.”
Since its inception, the program has trained more than 10 small and medium businesses leveraging technology by offering mentorship, advisory, coaching, networking opportunities, access to seed capital, and investor forums that help mould their businesses to international standards.
About 50 start-ups have participated to date and 25 have been awarded over Sh1.2 million ($10,000) in seed funding. 50 businesses have so far gone through the incubation process with the first five cohorts attracting over 2,000 applications.