Standard Chartered has joined forces with UAE-based social enterprise C3 – Companies Creating Change, to launch the next cohort of the Women in Tech accelerator; fostering sustainable growth, and empowering women entrepreneurs within the UAE’s technology sector.

The Standard Chartered Women in Tech accelerator provides female founders with a platform to help them unlock their potential, overcome obstacles, and expedite their business ventures. The initiative spans nine countries and establishes a robust international network of empowered women in the tech industry.

For the accelerator’s sixth edition, Standard Chartered has partnered with C3, a prominent regional impact solutions provider and part of the Global Ventures platform, a Dubai-based venture capital firm investing in emerging markets.

C3 will provide tailored support to women founders, hoping to enable them to accelerate their business and impact potential. Selected founders will join a tailored journey covering various topics, including business acceleration, investor readiness, impact assessment and acceleration, as well as diversity and inclusion.

Rola Abu Manneh, chief executive officer of Standard Chartered in the UAE, Middle East, and Pakistan, commented: “This programme is a testament to our shared commitment with the UAE to champion women’s empowerment and support technological innovation.

“Through this dynamic initiative, which offers targeted support, mentorship and access to seed capital, we aim to empower women, enabling them to overcome barriers, seize opportunities, as well as drive transformative change. By nurturing and equipping women with the necessary tools and resources, we are not only fostering diversity and inclusion but also fostering an environment full of innovation and progress.”

Empowering female founders

Applications for the programme are now open, inviting early-stage women founders, focusing on disruptive and impactful solutions based in the UAE, to apply by 16 June 2024.

Medea Nocentini, founder of C3 and senior partner at Global Ventures, also explained the impact of the Women in Tech accelerator: “Leveraging C3’s extensive experience in the impact entrepreneurship sector, we will empower women founders and facilitate their business journey to the next level of success.

“Through our expansive network of trainers, experts and investors, we aim to provide unparalleled access to knowledge, networks and capital for women-led startups, ensuring their sustainable growth and lasting impact in the technology sector.”

The Women in Tech accelerator will prepare the participants for a Demo Day in October 2024, where female-led founding teams will pitch their businesses to a network of investors and industry experts. A panel of judges will select three businesses to receive AED550,000 ($150,000) in equity-free seed capital, facilitating their startups’ growth.

The Women in Tech programme aims to empower female entrepreneurs to navigate growth as they expand their impact-driven businesses, also aligning with Standard Chartered’s strategic focus on empowering women through entrepreneurship.

The Heard, the women in fintech spokesperson index, is hosting a free media training programme in May for women and non-binary people working in fintech and financial services.

Launched in 2022, The Heard wants to help event organisers, producers and journalists source more diverse voices in their panels, podcasts and articles to help shine a light on more women in fintech and financial services. Its index currently features more than 100 global speakers, covering a wealth of topics.

Its free media training programme is targeted at startup founders looking to secure more press and those working in bigger companies being asked to do more external speaking. It will address account industry specific issues, including a personal branding segment to help secure and handle opportunities.

Chantal Swainston, founder of The Heard, says: “Our index is one step in shining a light on underrepresented talent in the industry, but there’s so much more we can do to ensure that women and non-binary people are given strong representation in the media.

“Running this session free of charge allows anyone in the industry regardless of background or budget, the opportunity to understand how they can prepare for media opportunities.”

Hosted in EY’s Canary Wharf offices on Wednesday 15 May 2024, the short session (between two to three hours) will house around 10 attendees. Deadline for applications is Friday 19 April.

To apply, email chantalfromtheheard@gmail.com with the following information:

• Your name and current position

• What sort of topics you’d be most keen to improve your spokesperson skills for

• What sort of media opportunities you’re most keen to do

• Reasons why you think you would benefit from free media training

• Whether you have undertaken media training before

The Institute of Chartered Accountants in England and Wales (ICAEW) has launched its inaugural mentorship initiative, the ‘Inspiring Future Female Leaders Programme’, aiming to develop the next generation of female finance leaders in the Middle East.

The new Future Female Leaders Programme will pair prominent women in the finance sector with aspiring members and students, to encourage them to share their experiences and insights – ultimately aiming to direct more women into leadership roles.

ICAEW’s programme hopes to enhance aspiring members’ leadership skills, expand their professional network, and improve their business decision-making skills through confidential group discussions and workshops. Sessions will address challenges for women in the industry, including building a career, leadership, taking risks, resilience, personal branding, work/ life balance, and the role of sponsors, coaches and mentors.

The Middle East region grapples with gender equality, with the largest gap to close standing at 62.6 per cent, according to the World Economic Forum’s 2023 Global Gender Gap Report.

Globally, women hold just 23 per cent of c-suite level positions in finance, contrasting with 49 per cent representation in entry-level positions.

Increasing the number of female finance leaders is also beneficial for business and the economy alike. A number of studies highlight how a higher proportion share of women, particularly in senior positions, boosts innovation, resilience, and financial performance. It also contributes to greater economic empowerment for women by providing opportunities for career advancement, financial independence, and closing gender gaps in income and wealth.

Creating an ‘ecosystem where women can empower each other to thrive’

Amanda Line, non-executive director at Vestey Holdings, Sana Khater, executive director of finance at ALDAR, as well as Jaimi Raikundalia, partner at Deloitte, are three of the mentors confirmed for the programme’s first cohort.

Amanda Line commented: “By offering a platform for seasoned female finance leaders to share their experiences and insights to emerging professionals, ICAEW is helping to create a supportive ecosystem where women can empower each other to thrive. It’s through women supporting women in finance that we will move closer to bridging the gender gap within our industry.”

Sana Khater also shared her enthusiasm for the initiative: “It’s imperative to encourage and enable young women to enter the finance sector with the right toolkit and skillset to thrive in an ever-growing complex, cross-border, and multidisciplinary business landscape where they can confidently add perspective, participate in financial decision making, and lead teams and organisations. ICAEW’s programme is a grassroots initiative focused on fostering the female finance leaders of tomorrow.”

Jaimi Raikundalia also said: “The evidence is clear: gender-diverse workforces correlate with more profitable companies. Despite increased awareness among corporate and government leaders for diversity as a driver of economic growth, women remain underrepresented in financial sectors.

“Our research shows that in companies where the CEOs were women, the percentages of women on boards and in senior management were double that of peer companies. That’s why women-led initiatives, like ICAEW’s programme, are essential for driving change at a grassroots level.”

ICAEW’s first Inspiring Future Leaders programme will run from 24 April to 24 July, with limited capacity. Interested members and students can apply via the ICAEW website, with applications closing on 22 April 2024.

Fintech firms could play a massive role in advancing financial inclusion for women finds a new IFC report. According to the asset management and investment advisory platform, this can be done by utilising business strategies informed by analysing sex-disaggregated data.

Until now, limited research has quantified the extent to which fintech firms are actively addressing financial inclusion for women and the specific strategies that are proving successful. To fill this gap, IFC conducted a survey of 114 fintech firms in emerging markets around the globe. The report, Her Fintech Edge: Market Insights for Inclusive Growth, provides insights from fintech firms about their own perceptions and practices to deliver services to women’s customer segments.

“What is clear from this study is that strong behavioural gender differences, as well as barriers, call for fintech firms to offer differentiated solutions for women,” said Emmanuel Nyirinkindi, vice president of cross-cutting solutions, IFC. “In doing so, fintech firms can unlock the full potential of the women’s market – a valuable customer segment that exhibits greater loyalty, lower default rates, and strong revenue generation.”

Fintechs believe women are more loyal or equally as loyal as men

The survey findings show that women still make up a minority of fintech portfolios, with 63 per cent of the lending-focused fintech firms reporting that women-owned small and medium sized enterprises (SMEs) make up less than a quarter of their portfolio.

Nevertheless, the report highlights that there is a strong business case for fintech firms to serve female customers. The majority of fintech firms consider women to be more loyal, less risky, and more or equally valuable customers than men. The survey found that 69 per cent of lending-focused fintech firms believe women’s loyalty is greater than or equal to that of men.

The presence of leaders who have internalised the social or commercial value of serving women is the strongest internal driver for firms intentionally targeting females. The survey found that 58 per cent of firms attribute their strategic focus on women to leaders’ belief in the importance of women’s financial inclusion.

To target women intentionally, the report explains that fintech firms need knowledge, research, financial support, and technical assistance to fully capture the women’s market.

Tandem Bank, the UK-based green challenger bank, has become the latest Women in Finance Charter signatory, backing the government’s ambition to achieve gender balance at all levels across financial services firms.

The Women in Finance Charter, launched by HM Treasury, commits signatories to support the progression of women into senior roles across financial services.

Last year, the EY European Financial Services Boardroom Monitor revealed that, across UK financial services as a whole, women only represented 39 per cent of board directors. However, according to an earlier Findexable Diversity for Growth Report, women only hold around 11 per cent of board seats in fintech.

Recognising the need for drastic change in the fintech sector, Tandem has taken the opportunity to join While Tandem finalises its specific plans to support the Charter, its signature comes alongside four pledges:

1. Having a member of the senior executive team responsible for gender diversity and inclusion
2. Setting internal targets for gender diversity across senior management
3. Publishing its annual progress
4. An intention for pay of the senior executive team to be linked to these targets

Tandem represents one of 19 new signatories of the Women in Finance Charter, announced last week. GoCardless, Haatch, Oodle Car Finance and Scottish National Investment Bank are among the other financial firms pledging to make a difference.

Backing diversity and inclusion 

Tandem Bank’s signature marks the latest in a string of moves in its transformation to become one bank, with a single established culture since significant acquisitions, such as Oplo in 2022.

Steve McNicholas, chief people officer at Tandem, explained the bank’s decision to back the initiative: “Culture is such an important thing across any business, but Tandem’s transformation has meant it is even more so.

“Diversity and inclusion are at the heart of that. And I couldn’t be prouder of the steps we’re taking to ensure we are leading the way in creating female role models that lead and inspire the next generation of female leaders.

“Signing of the charter marks our commitment to see gender balance across financial services and our work to build a fair, balanced and best place to work in the sector.”

Benefiting customers’ pockets and the planet, Tandem offers greener ways to save, borrow, spend and share. From low-emission motor loans and lending for greener home improvements to EPC discount mortgages and green savings, its products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon footprints.

International Women’s Day (IWD) stands as a global celebration acknowledging the achievements, contributions, and resilience of women worldwide.

This annual observance on 8 March serves as a powerful reminder to appreciate the social, economic, cultural, and political accomplishments of women. As we approach International Women’s Day, it’s essential to explore meaningful and impactful ways to celebrate and empower women.

Here Kamila Palka shares innovative international women’s day ideas to mark this significant day and promote gender equality on a global scale.

Organising events that celebrate women’s achievements and promote dialogue on gender equality is a powerful way to mark international women’s day ideas. Consider hosting panel discussions, seminars, or workshops featuring influential women from various fields. Encourage open conversations about challenges women face globally and highlight success stories that inspire change. These events provide a platform for networking, sharing experiences, and fostering a sense of community.

• Support women-owned businesses

One practical way to empower women economically is by supporting women-owned businesses. Collaborate with local female entrepreneurs or showcase products and services from women-led enterprises. This initiative not only boosts the economy but also helps create a more equitable business environment. Encourage consumers to choose women-owned products and services to contribute to the growth of female-led businesses.

Empowering women begins with education. Organise workshops and training sessions aimed at providing women with skills and knowledge that enhance their personal and professional development. These educational initiatives can cover topics such as financial literacy, entrepreneurship, technology, and leadership. By investing in women’s education, we pave the way for a more inclusive and equitable future.

• Global mentorship programmes

Establishing global mentorship programmes connects experienced women with those seeking guidance and support. Mentorship fosters a sense of community and empowers women to navigate challenges in various aspects of their lives. Encourage successful women to share their experiences and offer mentorship to aspiring individuals, creating a network that spans geographical boundaries.

Art has the power to inspire and evoke emotions. Collaborate with local artists to create exhibits, performances, or installations that celebrate the strength, resilience, and achievements of women. Artistic expressions provide a unique way to convey messages and provoke thought, fostering a deeper understanding of the challenges and triumphs women face globally.

• Community outreach programmes

Extend the celebration beyond urban centers by organising community outreach programmes. Work with local NGOs and community leaders to address the specific needs of women in different regions. Initiatives such as health camps, skill-building workshops, and awareness campaigns contribute to empowering women at the grassroots level.

• Digital awareness campaigns

Leverage the power of social media and digital platforms to raise awareness about International Women’s Day. Create engaging campaigns that highlight stories of empowerment, showcase achievements, and emphasise the importance of gender equality. Encourage individuals to share their own stories and use hashtags like ‘international women’s day ideas’ to amplify the message across borders.

• Advocate for policy change

Use International Women’s Day as an opportunity to advocate for policy changes that promote gender equality. Collaborate with organisations working towards legislative reforms and address issues such as equal pay, maternity rights, and representation in leadership roles. Engage with policymakers to drive positive change on a global scale.

Conclusion

International Women’s Day is not just a day of celebration; it is a call to action. By implementing these international women’s day ideas, we can create a collective impact that transcends borders and empowers women worldwide.

Through events, economic support, education, mentorship, artistic expression, community outreach, digital campaigns, and policy advocacy, we contribute to building a more inclusive and equitable world for all. As we celebrate International Women’s Day, let us reaffirm our commitment to fostering a future where women’s contributions are acknowledged, valued, and celebrated every day.

Atom Bank, the UK’s first app-based bank, is supporting the ‘Women in Technology’ programme at Durham University by funding two scholarships for prospective female students from low-income backgrounds.

Two Atom-funded scholarships will offer successful applicants £4,000 per annum for all three years of their course at Durham, as Atom and the University seek to inspire future female tech leaders.

Alongside funding the scholarships, Atom will provide mentoring, internship, placement and leadership opportunities to the successful applicants. The bank revealed that it is particularly keen that the scholars also help the University and Atom to promote tech to women and girls across schools and colleges in the North East.

According to Tech Nation, women only represent around 26 per cent of the tech workforce in the UK, while women take just five per cent of leadership roles in technology, highlighting the scale of the challenge and the need for focused initiatives such as this.

In the 2024 Complete University Guide, Durham’s department of computer science ranked fourth for its teaching and joint fourth for the employability of its students. The department has a stated objective of making Durham the number one University in the UK for women to study computer science.

Atom’s support reflects this commitment and is the latest element of a wider programme of cooperation between the bank and the University under their five-year partnership.

‘Targeting the next generation of leaders for Atom’

Edward Twiddy, director of ESG at Atom, explained the decision to support the Women in Technology programme in this way: “Through this funding, we are unashamedly targeting the next generation of leaders for Atom and for the technology businesses of the future.

“Applications for the scholarships are now open, and we are really excited at the prospect of meeting the people who we hope will lead Atom in the future through their engagement in this programme.”

As well as being a signatory of the Tech Talent Charter, Atom also played a major role in supporting Durham University in establishing the Diversity Matters project, promoting equality, diversity and inclusion in STEM across industry and academia. The bank was also one of the sponsors of the highly successful Tech Up programme that Durham University’s Professor Sue Black pioneered with the support of the Institute of Coding.

Professor Matthew Johnson, head of the department of computer science at Durham, also added: “We are grateful to Atom Bank for their generous support as we strive to increase the reach of the highly successful AMI scholarship programme. Their contribution will help us to foster greater participation of talented women in our undergraduate degree programmes. The underrepresentation of women in the field poses a significant barrier to innovation.

“Our department is committed to not only creating a welcoming and inclusive environment, but also one that is vibrant, diverse, and thriving. The scholars participating in this program are called upon to serve as ambassadors for the department. Consequently, the impact of these scholarships extends beyond their recipients, influencing and inspiring a broader spectrum of students.”

Embracing the power of partnerships is key to transforming fintech and payments. This was the resounding advice from a panel at TechCrunch Disrupt 2023, where female fintech leaders shared invaluable insights and guidance for women aspiring to excel in this dynamic industry.

TechCrunch Disrupt 2023, held in San Francisco this September, brought together fintech innovation, collaboration, and visionary leadership on a grand scale. One standout session delved into the transformative potential of the payments ecosystem with a focus on women in fintech and the importance of fostering a more inclusive and innovative industry.

The ‘Women in Fintech: The Power of Partnership’ breakout session, sponsored by global payments brand Discover^® Global Network, took place on day two of the three-day event and showcased female leaders in fintech and payments.

Led by Miladys Felix, senior principal sales executive at Discover Global Network, the session included Lacey Frenzl, vice president of customer experience at SaaS payment platform ISVPay alongside Fonta Gilliam, CEO of Welthi, a fintech that builds social banking software for banks, credit unions and affinity groups, who together served up insights on the challenges and opportunities for women in the fintech industry.

The discussion began with insights into the origin stories of the female fintech leaders, showcasing their entrepreneurial spirit and innovative ideas. Together, the trio shared pivotal experiences that shaped their leadership, emphasising resilience and adaptability as vital traits in the rapidly evolving fintech landscape.

Gilliam, who was an American diplomat for the first 10 years of her career, set up Wellthi to make banking apps more accessible to the next generation and she outlined the challenge of mainstreaming a concept like social finance.

“My job was to work with foreign banks and governments and design innovative access to capital programs that can really empower people economically,” explained Gilliam. “That’s where I was first exposed to this concept of social finance and community savings, and a lot of the traditions that exist in emerging markets and American immigrant communities, around how people save, spend, and invest together to do amazing things outside the formal banking system.

“I got really fascinated by it. It was one of the few things that works but was really being ignored by the financial services industry. I remember thinking, what if we could take this concept of social saving and social finance and couple it with the best-in-class fintech payments and that’s really how Welthi came to be.”

Frenzl then delved into her experience and knowledge in integrated payments enablement and commercialisation, as well as her passion for developing innovative products and services.

“ISVPay is focused on independent software vendors (ISVs) by helping them provide the solutions and products that they need to not only expand their current product offering but expand their reach and do that all while creating additional revenue and expanding their brand,” said Frenzl.

“We love having conversations about software, understanding ISVs goals and needs. We’re not limited to our current product offering. In fact, when an ISV approached us with a unique need we hadn’t encountered before, we leveraged our industry relationships to collaborate with Discover Global Network and provide a solution that worked for them and met their needs. Instead of pushing our existing products, we’re about the solutions and take a very consultative approach.”

A candid exploration of the unique challenges faced by women in fintech also led to a collective call for greater inclusivity in the industry. They offered practical advice for aspiring women in fintech, emphasised the importance of male advocacy and support along with seizing opportunities to build confidence in this dynamic field.

Power of partnerships

It’s no secret that startups and established players can create a fintech powerhouse when they join forces. In fact, a recent study, the Fintech State of the Union by 451 Research (part of S&P Global Market Intelligence) in collaboration with Discover Global Network, revealed that a huge 98 per cent of fintechs are eyeing partnership opportunities, with payments networks topping their wish lists.

During their TechCrunch discussion, Gilliam, Frenzl and Felix highlighted the meaningful contributions of their respective businesses to the fintech sector, improving financial products and experiences, while underscoring the transformative power of partnerships, emphasising how startups and larger corporations can mutually benefit from collaboration.

This engaging conversation dove into how startups can derive immense value from partnering with established industry players and, conversely, how larger corporations can benefit from the agility and innovation that startups bring to the table.

Gilliam said: “When I started out, I didn’t have a strong background in payments and I came into a market that oftentimes had never heard of this concept of social finance, or community savings. What I found really quickly is that I had to focus on partnerships, finding likeminded people in companies that were very serious and interested in kind of this concept of economic empowerment, thinking differently about how people save and build wealth and pay make payments. My journey wouldn’t have been possible without establishing a robust partner ecosystem and carefully selecting who I collaborate with.”

While Frenzl added: “There’s a difference between productisation and commercialisation. Larger experienced organisations do a really good job of productising and explaining the features and how to use them in those industries that would be most beneficial. But when it comes to commercialising, I think a younger, smaller organisation can really understand and pinpoint some of those emerging markets that maybe haven’t been quite competitive.

“Discover Global Network has connected us with partners that have aligned goals and expectations and it is through those partnerships that we can take a complete product to market, quicker and with reduced costs.”

The session provided valuable insights into what ISVPay and Wellthi, are actively pursuing within the payments ecosystem.

Following the session, Felix, senior principal sales executive at Discover Global Network, told The Fintech Times: “I was honoured to participate in a women-led panel at Tech Crunch Disrupt with our fintech partners ISVPay and Wellthi.

“This panel was a great opportunity to showcase women leaders who are making an impact in the fintech and payments ecosystem. Through their career paths, challenges, and advice, the experiences shared will undoubtedly form a positive influence on the future of the payments industry. It’s incredibly important to listen to the issues that women face in the fintech space.”

Elsewhere at TechCrunch Disrupt 2023

Beyond the ‘Women in Fintech: The Power of Partnership’ session, TechCrunch Disrupt 2023 was swarming with compelling discussions and notable events. Throughout the three-day extravaganza, which hosted more than 12,000 participants from all over the world, fintech innovators and leaders had the opportunity to delve into various facets of the industry.

Sessions covering topics like AI, SaaS, fintech security, sustainability, and space exploration showcased the breadth of innovation within fintech.

The event also hosted luminaries including Shaquille O’Neal, the NBA Hall of Famer, Kevin Systrom, the co-founder of Instagram, and Michelle Zatlyn, the co-founder, president and COO of Cloudflare.

Learn more about Women in Payments with additional insights from Discover Global Network leaders.

This October at The Fintech Times is all about shining a spotlight on the incredible women working in the fintech industry, sharing their greatest achievements, their biggest challenges and how they can make a difference fostering women’s careers.

Though progress has been made to reduce the gender gap in fintech, the industry still has far to go until it hits true representation and champions full equality.

To help highlight the influential and significant contributions of women to the industry, we asked influential fintech leaders (who just so happen to be women) to discuss the importance of diversity beyond gender for ‘women in fintech’ month.

Diversity is vital

Emma Kisby, CEO, EMEA, of Cogo, a business carbon manager platform, said: 

“When we think about diversity we should consider ethnicity, education,  language, culture, neurodiversity, as well as gender. I think businesses are increasingly waking up to the fact that diversity is vital for business success and that conformity can stifle growth. Businesses with successful gender diversity are reported to be over 20 per cent more profitable, and for those that are ethnically and culturally diverse that figure is over 30 per cent. The collective perspectives and experiences that diversity brings will help businesses find different and new ways to address problems and identify opportunities.”

The diversity conversation

Danielle Pepin, head of product, portfolio monitoring and valuation, ESG, and Mobile at alternate asset management, Dynamo Software, said:

“Diversity has already moved well beyond gender. Discussion about intersectionality began in the 90s when Kimberle Crenshaw coined the term to describe how social categories such as gender, race, and class are interconnected. It’s an important point that supporting women is inextricable from supporting other marginalised people. Including other people in the diversity conversation implies the conversation is something that is owned by us. I’d suggest flipping that idea on its head and instead, paying attention to the conversations that are already happening all around us. Saying we want to bring the diversity conversation to marginalised communities is like saying Columbus discovered America.

True diversity

Aja Heise, Senior Compliance Officer at XBTO, a digital asset platform, said:

“Yes, diversity initiatives should absolutely move beyond gender and encompass a broader range of marginalised communities. While gender diversity is crucial, it’s just one aspect of creating an inclusive workplace. It’s essential to consider diversity in terms of race, ethnicity, sexual orientation, disability, age, and other factors. People often belong to multiple marginalised groups simultaneously, so focusing on gender alone may not address the unique challenges faced by individuals with intersecting identities.

“It is evident that diverse teams bring a broader range of perspectives and experiences to the table, fostering creativity and innovation. True diversity means creating an environment where everyone feels valued and included, regardless of their background. 

“In summary, expanding diversity initiatives to include all marginalised communities is not only ethically sound but also crucial for the success and sustainability of organisations as well as industries in today’s diverse world.”

Nurturing talent

Preetha Pulusani, CEO at financial institution digital marketing platform, DeepTarget

“Talent and potential can be found in various forms. I am a strong believer in spotting and nurturing such talent and potential – for the benefit of the individuals and for the organisation. In my case, I am a minority in fintech because I am a woman, and because of my ethnic background Yes, I believe that diversity initiatives should move beyond just gender. Diversity is a broad concept that encompasses many different aspects of identity, including race, ethnicity, sexual orientation, gender identity, age, physical abilities, socioeconomic status, religious beliefs, political beliefs, and other ideologies.

“Inclusion of people across marginalised communities is crucial for a truly diverse environment. Not only can this lead to a more inclusive and equitable society, but this diverse community can also bring broader, more assorted perspectives and experiences. This, in turn, fosters creativity, innovation, and better decision-making. You also have the advantage of better understanding customer needs through the lens of workplace diversity. Some research has shown that a diverse workplace is simply better for a company’s bottom line.

“”It’s hard to fathom what the disadvantages of diversity initiatives are!”

Knowledge and opportunities

Jeannie Assimos, head of content/communications at Way.com, an auto super app. said:

“We need to include communities at all levels of society. If we become a blocker of excluding anyone from any walk of life, we are not only doing a disservice to them, but we are directly prohibiting this industry from thriving. We have so much yet to learn from other countries and communities, their various business models, successful or not, but if we as an industry resist exposure to these, we limit our knowledge and opportunities to grow.”

Standard Chartered has extended 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 success of the first edition, the program is back to empower a new cohort of women-led startups with training, mentorship and seed funding opportunities. The application process is open for the next four weeks.

The first cohort included eight startups taking part in an eight-week learning and growth journey. The programme showcased innovative ideas in various sectors, including fintech, health tech, property tech, as well as edutainment.

Three Saudi Arabia-based female-led startups were awarded $50,000 in equity-free rewards, as part of the first Standard Chartered Women in Tech programme.

“The first edition of the Women in Tech Program received an overwhelming 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,” said Mazen Bunyan, CEO, Standard Chartered Saudi Branch.

While Adwa Al Dakheel, founder and CEO, Falak Investment Hub, also commented: “A second cohort the programme represents our commitment towards 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.”

Applications are open until 25 November 2023. Finalists will pitch to the selection committee in December 2023. Next, the selected startups will join an eight-week programme, followed by pitching at a ‘demo day’ for a chance to win one of the funding prizes.