Standard Chartered Partners with Falak Investment Hub for Women in Tech Programme
Standard Chartered has announced an exciting extension of its partnership with Falak Investment Hub to launch the second cohort of the Women in Tech Programme in the Kingdom of Saudi Arabia. Following the remarkable success of the inaugural edition, this initiative aims to empower a new wave of women-led startups through comprehensive training, mentorship, and seed funding opportunities.
A Successful First Cohort
The first cohort of the Women in Tech Programme included eight innovative startups that embarked on an eight-week learning and growth journey. This initial group showcased a diverse array of ideas across various sectors, including fintech, health tech, property tech, and edutainment. The program not only provided valuable insights and resources but also fostered a collaborative environment where female entrepreneurs could thrive.
Three standout Saudi Arabia-based female-led startups were awarded $50,000 in equity-free rewards as part of the first edition. This financial boost not only recognized their hard work but also aimed to propel their ventures to new heights.
Empowering Women Entrepreneurs
Mazen Bunyan, CEO of Standard Chartered Saudi Branch, expressed enthusiasm about the program’s impact. “The first edition of the Women in Tech Program received an overwhelmingly positive response. We are looking forward to the second cycle to scale the program’s impact and unlock the potential of more women in tech,” he stated. This sentiment underscores the bank’s commitment to fostering an inclusive entrepreneurial ecosystem.
Adwa Al Dakheel, founder and CEO of Falak Investment Hub, echoed this commitment. “A second cohort of the programme represents our dedication to empowering women within our ecosystem. We are excited to run the programme again and provide more startups with access to necessary resources and financial opportunities that establish solid grounds for growth,” she remarked. This partnership highlights a shared vision of creating a supportive environment for women entrepreneurs in Saudi Arabia.
Application Process and Timeline
The application process for the second cohort is now open and will remain available for the next four weeks, closing on November 25, 2023. This timeline allows aspiring female entrepreneurs ample opportunity to submit their applications and showcase their innovative ideas.
Finalists will have the chance to pitch their startups to a selection committee in December 2023. Following this, the selected startups will participate in an intensive eight-week programme designed to equip them with the skills and knowledge necessary for success. The culmination of this journey will be a ‘demo day,’ where participants will pitch their ventures for a chance to win one of the coveted funding prizes.
A Bright Future for Women in Tech
The Women in Tech Programme not only aims to provide financial support but also focuses on building a robust network of female entrepreneurs. By fostering mentorship and collaboration, the initiative seeks to create a sustainable ecosystem that encourages innovation and growth among women-led startups.
As the second cohort prepares to launch, the anticipation is palpable. With the backing of Standard Chartered and Falak Investment Hub, the future looks promising for women entrepreneurs in Saudi Arabia. The program stands as a testament to the growing recognition of the vital role women play in the tech industry and the broader economy.