Standard Chartered Bank #ticker:SCBK is set to fund five local women-led tech businesses with Sh1 million each to support their future growth.
The startups were selected from a group of 380 companies in the Women in Tech program competition initiated by Standard Chartered in partnership with Strathmore University‘s business incubator, @iBizAfrica.
The companies to benefit include Soul Food, Taste Afrique, BenaCare, Nature’s Touch and Arbes Biotech that have been able to scale their operations with the aid of technology.
The business operations range from virtual restaurant, provision of nursing services, personal care products, an agricultural startup using technology to generate seedlings, and food manufacturing company.
“This event taking place virtually is a great milestone to show the importance of technology and how businesses are using technology to drive their businesses forward. During this pandemic business that have adapted to taking up technology are thriving showing that technology is fundamental,” Standard Chartered Bank CEO Kariuki Ngari said during the award ceremony.
Each year the Women in Tech program through @iBizAfrica Center trains more than 40 small and medium businesses leveraging on technology by offering mentorship, advisory, coaching, networking opportunities, access to seed capital and investor forums that help mold their businesses to international standards. The bank’s programme combines world class startup support with local and international experience to enable the small firms take up challenges and opportunities.