StanChart, Strathmore enter training deal for women-led tech startups

Standard Chartered Bank #ticker:SCBK and Strathmore University have partnered to train women-owned businesses on the use of online platforms to boost sales and manage operations.

Under the Sh20 million programme, women running their own businesses will have six weeks to send their applications via womenintech.co.ke. Ten shortlisted startups will participate in a 10-week incubation boot camp at Strathmore University’s iLab.

The women will be taught how to use social media and other online platforms to better understand customers, sustain market and deal with suppliers.

At the end of the programme, five companies that win a pitching competition will see Sh1 million injected into each of their businesses.

The programme builds on a similar one carried out by Standard Chartered in the United States in 2014 at the City College of New York. Strathmore University and Standard Chartered hope that the training will help bridge the gender-based digital divide especially among small businesses.

“It will help identify, grow and bring to the market unique business ideas, while at the same time celebrating women in Kenya,” said Standard Chartered’s  chief executive for Africa and the Middle East, Mr Sunil Kaushal.

Speaking at an event to launch the programme, Dr Joseph Sevilla, Strathmore director of iLab Africa  also said that there was a need for local companies to take up more innovations that are arising from Kenya’s incubation labs.

Dr Sevilla said Kenyan companies continued to rely on out-dated technology even while local businesses are coming up with cheap and simple solutions.