Standard Chartered Bank, in collaboration with WomHub, has unveiled the second edition of the Women in Tech (WiT) Incubator Programme in South Africa, a powerful initiative designed to bolster women entrepreneurs in the technology sector by offering education, mentorship, and investment opportunities.
The WiT Incubator Programme, which Standard Chartered first introduced in the Americas in 2014, has since evolved into a global initiative championing female empowerment in STEM (Science, Technology, Engineering, and Mathematics) industries. The program is committed to advancing gender equality and sparking innovation by delivering comprehensive support, including mentorship, training, networking prospects, and access to both funding and a nurturing community.
Chris Egberink, the CEO of Standard Chartered in South Africa, emphasized the importance of diversity and women’s leadership in the tech industry as vital components for stimulating economic growth and innovation.
“Our WiT Incubator Programme is more than a commitment; it’s a concrete action to provide women entrepreneurs with the necessary tools and resources to succeed. The program has already had a profound effect on numerous businesses since its inception, and we are dedicated to continuing this positive influence. By helping these women expand their enterprises, we are not only generating employment but also promoting a more inclusive and innovative technological environment,” said Egberink.
The upcoming 12-week intensive program, set to commence in September 2024, will host 15 promising startups selected through a stringent evaluation process. Participants will benefit from hands-on training, mentorship from industry experts, and opportunities to network with investors and potential business partners.
The program will conclude with five finalists each receiving USD $10,000 in non-dilutive seed funding to further accelerate their business growth. The inaugural cohort’s success, which showcased 15 startups with inventive solutions in sectors like fintech, healthtech, proptech, and edutainment, has raised expectations for the program’s second iteration.
Pretty Kubyane, the founder of eFama and one of the three South African startups to receive ZAR 100,000 in equity-free funding from the first program, shared her transformative journey.
The WiT Incubator Programme was a game-changer for eFama. It provided us with the necessary tools and support network to tackle significant challenges, such as market expansion and business model refinement. Thanks to the expert advice and community support, we managed to streamline the connection between farmers and buyers, ensuring timely payments. eFama has since seen remarkable growth – we’ve attracted substantial investment, created job opportunities, and empowered other women in the sector. The program was not just beneficial; it laid the groundwork for our enduring success.
Pretty Kubyane
For more information about the program, please visit SCWiT – WomHub or contact Senamile@womhub.com.
