Standard Chartered Bank, in partnership with WomHub, has officially launched the second edition of the Women in Tech (WiT) Incubator Programme in South Africa. This dynamic initiative aims to empower women entrepreneurs in the technology sector by providing them with education, mentorship, and investment opportunities.
Global Initiative for Female Empowerment in Tech
Originally introduced by Standard Chartered in the Americas in 2014, the WiT Incubator Programme has evolved into a global movement dedicated to advancing female empowerment in STEM (Science, Technology, Engineering, and Mathematics) fields. The program is focused on promoting gender equality and fostering innovation by offering a comprehensive package of support, including mentorship, training, networking opportunities, and access to funding and a supportive community.
A Commitment to Diversity and Innovation
Chris Egberink, CEO of Standard Chartered in South Africa, highlighted the critical role of diversity and women’s leadership in driving economic growth and innovation within the tech industry.
“Our WiT Incubator Programme is more than just a commitment; it’s a concrete action to equip women entrepreneurs with the tools and resources they need to succeed. The program has already made a significant impact on numerous businesses since its inception, and we are committed to continuing this positive momentum. By helping these women grow their enterprises, we are not only creating jobs but also fostering a more inclusive and innovative technological landscape,” said Egberink.
Intensive 12-Week Program to Empower Startups
The upcoming 12-week intensive program, scheduled to begin in September 2024, will feature 15 promising startups selected through a rigorous evaluation process. Participants will receive hands-on training, mentorship from industry experts, and valuable opportunities to network with investors and potential business partners.
Funding and Recognition for Top Innovators
The program will culminate in a final pitch event, where five standout finalists will each be awarded USD $10,000 in non-dilutive seed funding to accelerate their business growth. The success of the inaugural cohort, which included 15 startups offering innovative solutions in sectors such as fintech, healthtech, proptech, and edutainment, has set high expectations for this second edition.
Success Stories from the Inaugural Cohort
Pretty Kubyane, founder of eFama and one of three South African startups to receive ZAR 100,000 in equity-free funding from the first WiT program, shared her transformative journey. Kubyane’s experience in the program not only helped her refine her business model but also provided the resources and support needed to scale her company.
The success stories from the first edition of the WiT Incubator Programme underscore the significant impact that targeted support can have on women-led startups. As the program enters its second phase, it continues to serve as a powerful catalyst for change, driving forward the vision of a more diverse and inclusive tech industry.