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Women in Tech is Standard Chartered’s programme, which aims to support women-led startups

Ae women in tech

Women in Tech is Standard Chartered’s programme, which aims to support women-led startups

Learn how we’re supporting local women-led startups with the ‘Womentum’ accelerator program

We have conducted an in-depth research of the tech landscape locally, in MENA, and globally. We have encountered shocking numbers – out of USD 651 million that was invested in tech startups in 2017, only 11% of total funds were invested in teams with at least one female founder and the cumulative number of female start up founders in MENA is only 14%. That is definitely not good enough and we decided to do something about it!
We have partnered with Womena, a multi-dimensional media company that accelerates equality through creative content and entrepreneurial experiences. They directly talk to our goals in their early stage accelerator for female led startups.

Our launch

Our partnership with Womena was introduced on 10 June. We had a full house – from the Bank’s senior leaders to young entrepreneurs.

What are the next steps?
Womena has shortlisted 8 female-led tech start ups in their earlier call for application. They will take them to Berlin, where they are going to attend a two week bootcamp at their Impact Hub. Post that, all the participants will return to their homes and the businesses will go through a remote execution phase where they will receive virtual mentorship as they work to validate their products. The programme will end with two week Dubai bootcamp that will prep startups to be investment-ready ahead of an exclusive Demo Day.
We will engage with Womentum by offering mentorship through select workshops that are part of the acceleration programme.

Why Berlin?
We get this question a lot! There are several reasons – Berlin is profiled as one of the best innovation and tech hubs in the world, definitely the best in Europe. Womena has a great relationship with Impact Hub in Berlin, a community, consultancy and creative space that inspire, connect and enable community of changemakers to develop their ideas. This way our cohort will have access to a pool of investors, advisors and mentors who will look at their businesses from a global perspective.
Another reason is to get them out from their comfort zone – they will leave their markets for two weeks and try to apply acquired knowledge upon their return.

Who are the businesses in this year’s cohort?

Around 200 applications came in from across the MENA region and the startups were shortlisted for several rounds of interviews. This cohort represents every area of the MENA region, Tunisia and Egypt from North Africa, UAE from the Gulf and Lebanon from the Levant.
The winners selected for the 2019 cohort are:

  1. Maj Solution (Lebanon) is a customizable product management tool for construction projects that automates workflows using AI technology while collecting real-time data analytics.
  2. Fresh Source (Egypt) is disrupting the national horticulture agri-chain through innovative solutions that connect small-time farmers to the modern value chain, saving farmers money and preventing food loss.
  3. Chefaa (Egypt) is an AI-powered on-demand marketplace for pharmaceutical products, helping patients easily access medicine and scheduling delivery by uploading prescription or using the search engine.
  4. Luxury Promise (UAE) is a marketplace for pre-loved luxury goods delivered with speed and authenticity. AI visual recognition can identify and value products while human experts use anti-counterfeit technology.
  5. Pas-sport (Egypt) is a matchmaking platform that connects local and regional athletes with sports scholarships at universities globally. Athletes are smartly-matched with universities that can recruit directly.
  6. Dimension 14 (UAE) is an AI-powered tool for scheduling and automated decision making in organizations with complex systems, such as scheduling in universities or roster and fleet management.
  7. Makerbrane (Lebanon) is a peer-to-peer virtual makerspace where toy creators can design, build and trade digital toys using virtual building materials and play instructions that can be replicated in real life.
  8. Dabchy (Tunisia) is a pre-loved goods marketplace operating in Tunisia, Algeria and Morocco where the online community can buy and sell clothes, bags and accessories.