Seven Kenyan Women-Led Startups Secure $70,000 From Standard Chartered Foundation

Standard Chartered Plc’s charitable arm has awarded 9 million Kenyan shillings (about $70,000) in grants to seven women-led technology startups, as part of a programme aimed at addressing the funding gap facing female founders in East Africa’s largest startup market.

Each company will receive 1.29 million shillings to support product development and expansion, the Standard Chartered Foundation said at an event in Nairobi. The winners were selected from 15 startups that graduated from the 12-week Women in Tech Kenya Accelerator, now in its ninth cohort.

Seven Startups Receive Equity-Free Funding

The seven winners operate across healthcare, agriculture, education and technology.

Premac Care connects families with trained healthcare workers providing maternal, newborn and elderly care.

ChipuRobo develops locally made kits for artificial intelligence and robotics education.

FishBox Africa uses AI-powered farm software and smart feeders to support fish farmers.

Uptyke Consulting provides digital learning tools for students with disabilities, incorporating sign language and audio.

Nakuru Tubers connects smallholder farmers with verified agricultural inputs and last-mile distribution.

Trident Analytics develops Internet of Things and AI tools for small-scale aquaculture farmers.

Seta Farm grows mushrooms using organic waste while creating income opportunities for women and young people.

The grants are equity-free, allowing the companies to use the funding for growth without giving up ownership of their businesses.

Programme Has Backed 107 Kenyan Startups

The Women in Tech Kenya Accelerator is run by Standard Chartered Foundation in partnership with Village Capital and Strathmore University’s @iBizAfrica incubator.

Since launching in Kenya in 2017, the programme has supported 107 startups and distributed more than 51.5 million Kenyan shillings in funding. Globally, Standard Chartered said its Women in Tech programme operates across 14 markets and has supported more than 4,000 entrepreneurs.

Applicants were assessed on their business models, market opportunities, innovation, growth potential and social or economic impact. Fifteen startups completed the latest accelerator before the seven winners were selected for funding.

“Women in Tech goes beyond capital by providing the skills, networks and support women entrepreneurs need to build sustainable businesses,” said Birju Sanghrajka, chief executive officer of Standard Chartered Kenya, at the ceremony.

Vincent Ogutu, Vice-Chancellor of Strathmore University, said the programme has developed from a three-way partnership in Kenya into an initiative spanning 13 countries.

The funding gives the seven companies room to build out their products and take them further into the market. For the founders, the 1.29 million shilling grants provide capital to work on their businesses without giving up equity.