Q: What is the main goal of the Women in Tech (WiT) Accelerator Programme?
A: The Women in Tech initiative is Standard Chartered’s global effort to address gender disparity in the technology sector. The accelerator programme specifically targets female-led and driven businesses that are tech- and innovation-enabled, with a focus on creating impactful solutions.
Q: How does the programme align with Standard Chartered’s broader initiatives on entrepreneurship and inclusion?
A: As a bank, we believe in the power of diversity and inclusion to build a dynamic future for the markets we operate in. This involves nurturing talent, breaking down barriers, and providing the tools and opportunities needed for underrepresented groups, such as women, to thrive in spaces where they are often excluded. The programme aligns with one of the bank’s core values: lifting participation. This means actively contributing to solutions by developing a network that adequately resources and supports the local entrepreneurship ecosystem.
Q: What were the eligibility criteria for businesses applying to the programme?
A: To qualify, businesses needed to be at least 50 percent female-led or owned, registered in Botswana, employ 10 or fewer full-time employees, and have an annual revenue of P1 million or less. The women leading or owning these businesses had to be aged between 18 and 40. Importantly, the programme was not restricted to a specific industry, so businesses outside the tech space were also eligible to apply.
Q: What key factors were considered when selecting the 20 participants?
A: The selection process was managed by our implementing partner, Dream Factory Foundation, an NGO skilled in developing entrepreneurship and business training programmes across Southern Africa. Applicants underwent a series of assessments regardless of their industry, and Dream Factory determined the final 20 businesses that formed the first cohort. This selection was finalised in October 2024.
Q: What are the programme’s core components, and how do they support participants’ business growth?
A: The programme’s core components include:
∙ Business coaching and mentorship,
∙ Access to a local and global network of women in tech, innovation, and impact spaces,
∙ Access to equity-free seed funding of up to $50,000.
These elements are designed to provide participants with the tools, knowledge, and connections needed to scale their businesses effectively.
Q: How does the programme facilitate networking and collaboration for participants?
A: Networking and collaboration are fostered through mentorship, masterclasses featuring industry experts, and access to Standard Chartered’s global Women in Tech network. This network has been operational for up to eight years in some countries, offering participants a wealth of experience and connections.
Q: What type of business development support is provided to participants?
A: Participants receive various forms of business mentorship and coaching, covering areas such as accounting, cash management, risk, marketing, branding, and operational efficiencies. Additionally, there is a strong focus on personal development, including personal branding and understanding the deeper purpose behind their businesses.
Q: How does the programme help participants access funding, particularly the $50,000 equity−free seed funding?
A: At the end of the programme, select participants will receive a share of the $50 000 equity-free seed funding. This allocation is based on factors such as their performance throughout the programme and the strength of their business pitches.
