The second cohort of the Standard Chartered Women in Technology Incubator Kenya has kicked off with the entity announcing that it has started accepting applications for the three month incubation program with the winner pocketing US$10,000 for business development.
The program is an initiative of Standard Chartered in partnership with Strathmore University ‘s @iBizAfrica. The program combines world class startup support with local and international experience to provide Africa’s most competitive and attractive startup incubation program focusing on immersive learning, mentorship, building and growing Africa’s next iconic startups taking on the continent’s most relevant challenges and opportunities.
The program is seeking to recruit the best entrepreneurial minds, women-led start up teams of 2 – 3 people leveraging on technology as a key driver of innovation in business. Applicants are welcome from the general public, all schools, colleges and universities in Kenya.
The principle founder must be a woman above 18 years of age and of Kenyan nationality or permanent residency.
“There will be an open call for participation leading to a final selection of the top 10 contestants with the most compelling ideas. The 10 selected contestants will then go through a 12 week incubation period at the end of which five final winners will be chosen. Each winner will awarded $10,000 seed funding to invest in their business,” a statement from their website reads.
The second cohort was lunched early this week. “The Women In Tech Incubator program will help identify, grow and bring to the market unique business ideas and change the fortunes of women entrepreneurs and business owners in Kenya,” said Public Services, Youth and Gender Affairs Cabinet Secretary Margaret Kobia.
@iBizAfrica is a business incubator under the umbrella of @iLabAfrica, a Centre of Excellence in ICT innovation and Development based at Strathmore University.
In the first intake in October 2017, the Tech Incubator shortlisted 40 teams from more than 200 applications. only 10 of the best selected for the incubation program competed for up to KES. 1 million in seed funding as semifinalists.
The ten finalists included Bismart- a Kenya micro isnsurance company, Majk Water, a Kenyan innovative water technology company, GrassRoots Bima an insurtech company and Zoa – a financial inclusion company.