Introduction

In partnership with @iBizAfrica-Strathmore University, Standard Chartered Kenya has awarded KES 8.75 million to seven women-led startups operating in the sustainability sector. This initiative is part of the seventh cohort of the Women in Tech Incubation Program, which focuses on empowering women entrepreneurs through technological innovation and sustainable business practices.

Celebrating Women Entrepreneurs for a Sustainable Future

Held on October 8, 2024, the award ceremony centered around the theme, “Empowering Women for a Sustainable Future,” highlighting the global emphasis on Environmental, Social, and Governance (ESG) principles. The selected startups were recognized for their innovative use of technology and their commitment to business models that prioritize both profit and the well-being of people and the planet.

The event was presided over by Mr. Kariuki Ngari, CEO and Managing Director for Africa at Standard Chartered Kenya, alongside Ms. Joyce Kibe, Head of Corporate Affairs, Brand, and Marketing for Kenya and Africa. Key academic leaders like Dr. Vincent Ogutu, Vice Chancellor of Strathmore University, and Dr. Joseph Sevilla, Director of @iBizAfrica, were also present, emphasizing the collaboration between business, academia, and entrepreneurship in driving change.

Empowering Women in Tech

Mr. Ngari praised the entrepreneurs for their innovation and resilience, stating:
“We are immensely proud to witness the graduation of the seventh cohort of our Women in Tech program. These remarkable entrepreneurs exemplify the spirit of innovation and resilience. They are not only shaping the tech industry but also actively crafting a sustainable future for all.”

The Rise of ESG-Focused Initiatives in Kenya

Kenya is becoming a hotbed for sustainability-driven entrepreneurship, particularly as global interest in ESG practices grows. Initiatives like the Women in Tech Incubator Program play a critical role in urging women-led startups to develop sustainable business models that align with the triple bottom line—people, planet, and profit.

This initiative supports Kenya’s broader sustainability goals, such as promoting clean energy, reducing carbon emissions, and creating economic opportunities for marginalized communities. By investing in these startups, Standard Chartered and its partners are ensuring that women entrepreneurs play a key role in driving sustainable economic growth.

Highlights from the Seventh Cohort

Launched in April 2024, the seventh cohort received over 130 applications from women-led startups in sectors like agritech, health tech, biofuel tech, recycling tech, and e-commerce. Fifteen startups were selected for a 12-week business incubation program, which focused on:

  • Sustainability Practices: Training on how to incorporate sustainable practices into their business models.
  • Financial Modelling for Sustainability: Creating financial models that ensure long-term business viability while staying true to ESG goals.
  • Product Development: Assisting entrepreneurs in creating innovative, tech-driven products that address real-world challenges.
  • ESG Integration: Ensuring alignment with global ESG standards in business strategies and operations.

The selected startups also had access to mentorship, business advisory services, and networking opportunities with industry leaders, investors, and experienced entrepreneurs, helping them prepare for scaling up.

The Winning Startups

Seven startups were awarded KES 8.75 million in total, after a rigorous selection process that evaluated their market potential, social impact, and alignment with the Sustainable Development Goals (SDGs). The winning startups include:

  • Moma Renewable Energy: Specializes in providing clean, affordable solar energy solutions to underserved rural communities.
  • Hayah Cradle to Bloom: A health tech platform using AI to improve maternal and child health outcomes.
  • Gwiji for Women: Connects marginalized women to job opportunities in sectors like manufacturing and hospitality.
  • PsychCare Clinic: A mental health platform offering telemedicine services and online therapy, targeting women and youth.
  • Zaoshinani: An e-commerce platform that enables small-scale farmers to sell organic products directly to consumers, promoting sustainable agriculture.
  • Zidallie: A biofuel tech startup that converts agricultural waste into clean, sustainable energy.
  • AerialGIS: Utilizes drone technology and GIS to provide mapping and data services for agriculture, urban planning, and conservation.

Impact of the Women in Tech Program

Since its launch in 2017, the Women in Tech Incubator Program has become one of Kenya’s most prominent platforms for supporting women entrepreneurs. Over the last seven years, the program has attracted more than 2,250 applications, with 77 startups successfully completing the incubation process. To date, 32 startups have received seed funding to help them scale.

Through this initiative, Standard Chartered is not only fostering technological innovation but also contributing to job creation, reducing inequality, and promoting economic development. The program aligns with Kenya’s Vision 2030 development blueprint, which aims to transform the country into a newly industrialized economy by focusing on sectors like ICT, manufacturing, and clean energy.

The Future of Women-Led Innovation in Kenya

As global challenges like climate change and economic inequality persist, initiatives like the Women in Tech Incubator Program provide a pathway for solutions. By investing in women-led startups, Kenya is positioning itself as a leader in ESG-driven innovation and fostering a more inclusive and sustainable economy.

With Standard Chartered continuing its support for women entrepreneurs, the future looks bright for both the tech and sustainability sectors in Kenya. As more women-led businesses take the stage, the impact on Kenya’s economy and society will continue to grow, paving the way for a future that blends profit with purpose.