Standard Chartered Women In Tech Incubator Awards 5 Businesses Ksh.1.2M Each

 

By Dennis Otieno

rom Left to right: Flora Mutahi, Chair of Kenya Private Sector Alliance (KEPSA, Dr. Joseph Sevilla- @iBizAfrica- Strathmore University Director, Winner: Phelisia Oketch- Sello Designs, Terryanne Chebet - Keyara Botanics, Kaimuri Karauki- Learning Differently Limited, Melanie Hapisu- DigiPath Africa, Alice Muhuhu - Aurora Health Systems and Standard Chartered Bank Kenya CEO, Kariuki Ngari

The Standard Chartered Bank Women in Tech program on Thursday awarded 5 participating businesses Ksh1.2 million each in the culmination of the 5th cohort of the incubation program. 

The five businesses; Keyara Botanics, Learning Differently, Aurora Health Systems, Sello and Digipath received their prize money in a graduation ceremony presided by Flora Mutahi, Chair of Kenya Private Sector Alliance (KEPSA), Standard Chartered Bank Kenya CEO, Kariuki Ngari and @iBizAfrica Incubation Centre- Strathmore University Director, Dr. Joseph Sevilla.

The event was attended by leading Kenyan women entrepreneurs Wandia Gichuru- CEO at Vivo Fashion Group; Winnie Ngumi- CEO Space and Style Ltd and Joyce Mbaya - Founder & CEO, Zydii (WiT Alumni).

The 5th cohort of the Women in Tech program was launched in March 2022, attracting 207 applicants, among whom 10 were chosen to participate in the incubation program.

Of these, 9 companies successfully underwent incubation for 3 months receiving training, coaching and mentorship by @iBizAfrica-Strathmore University network of industry experts, Strathmore faculty, business leaders, experienced mentors, and professionals. This culminated in a rigorous and transparent pitching process for the Ksh.1.2 million ($10,000) business funding.

Speaking during the event, Kariuki Ngari, CEO & MD, Standard Chartered Bank Kenya & East Africa said, “as a bank, we are encouraged by the resilience and innovation of these women owned businesses and will continue to support the program as part of our Futuremakers initiative which aims to equip women with skills that help them earn, learn and grow."

The funding recipients were picked after a rigorous judging process undertaken by industry experts in both private and public sectors, seasoned entrepreneurs and academic thought leaders on solution innovation, availability of market opportunity and social impact in Kenya, among other criteria. 

Adding to this, Dr. Joseph Sevilla, Director @iLabAfrica and @iBizAfrica Research, Innovation and Incubation Centre, Strathmore University said, “Since 2017, we have received over 1000 applications for the Women in Tech Incubator Program, reflecting the need and demand not only for funding but also for mentorship, advisory, coaching and networking opportunities for women-led businesses."