Nairobi — Standard Chartered Bank, in partnership with iBizAfrica, a business incubator at Strathmore University, has awarded Sh8.75 million to seven women-led startups in the sustainability sector.The award ceremony, themed 'Empowering Women for a Sustainable Future,' was presided over by Standard Chartered Bank CEO and Managing Director, Kenya and Africa, Kariuki Ngari.
Others present include Standard Chartered Head of Corporate Affairs, Brand and Marketing, Kenya and Africa, Joyce Kibe, Strathmore University Vice Chancellor, Dr. Vincent Ogutu, and iBizAfrica-Strathmore University Director, Dr. Joseph Sevilla.
Speaking during the event, Standard Chartered Bank CEO and Managing Director, Kariuki Ngari, said the Sh 8.75 million investment award was part of the seventh cohort of the Women in Tech Incubation Program.
"We are immensely proud to witness the graduation of the seventh cohort of our Women in Tech program. Each of these remarkable entrepreneurs exemplifies the spirit of innovation and resilience that Standard Chartered champions," said Ngari Standard Bank CEO.
Ngari noted that technology and female leadership play a crucial role in driving sustainable economic growth with the rising importance of environmental, social, and governance (ESG) practices across the continent.
He affirmed that there has been a surge in innovation and investment aimed at creating sustainable solutions that benefit society.
"As we celebrate their achievements today our commitment remains steadfast in nurturing and expanding this vibrant community of trailblazers, who are not only shaping the tech industry but are also actively crafting a sustainable future for all" he added.
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This year, the Standard Chartered Women in Tech Incubator Programme emphasized ESG-driven entrepreneurship, urging women-led startups to adopt sustainable business models that align with Kenya's and global objectives of people, planet, and profit through technological innovation.
The seventh cohort, launched in April 2024, attracted more than 130 applications from Kenyan women-led startups, where 15 were selected for business incubation based on their innovative use of technology, sustainable solutions, and commitment to ESG principles.
The startups represent various sectors, including agritech, health tech, tourism, biofuel tech, recycling tech, and e-commerce.
"Through the partnership between iBizAfrica Strathmore University and Standard Chartered, the Standard Chartered WomenInTech program has over the past 7 years graduated 64 women-led businesses, with 32 receiving seed money of Sh 1.3 million each. Investing in women is like activating a lever that drives exponential growth, impact, and sustainability," said Dr. Vincent Ogutu, Vice-Chancellor of Strathmore University.
During the program, the 15 selected startups participated in 12-week business incubation training, focusing on areas of sustainability practices, financial modeling and sustainability, business modeling, product development, and ESG integration.
The funding recipients were picked after a rigorous judging process by accomplished industry experts in the 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.
