This archive report was first published on 12 September 2019.
On September 12, 2019, Standard Chartered Bank Kenya (StanChart) announced a Sh20 million initiative to support women-led technology startups.
The programme, dubbed 'Women in Tech Incubator', is a partnership between the lender and Strathmore University that aims to support women's entrepreneurship by providing shortlisted start-ups with mentorship and seed funding.
According to StanChart chief executive Kariuki Ngari, four out of five companies from the first cohort have received investor funding ranging from Sh5 million to Sh15 million, with their businesses experiencing double-digit revenue and sales growth.
The bank will identify ten start-ups through a rigorous selection process, which will undergo a 12-week incubation period. The top five finalists will benefit from a seed funding of Sh1 million each.
