Standard Chartered and Falak Investment Hub has announced the launch of the first cohort of the ‘SC Women in Tech’ program in the Kingdom of Saudi Arabia. Applications for the program will begin from 28 November and will remain open for a period of around six weeks.
The 8-week program aims to support women-led start-ups in Saudi Arabia by providing women entrepreneurs at the heart of tech-focused entrepreneurship with opportunities for economic and social development, as well as funding. This is part of the bank’s global ‘Women in Tech’ initiative that is currently available in 6 other countries.
Eligibility for Applicants
The program is sector agnostic, enabling any start-up headquartered in the Kingdom, technology-enabled, and led by a female, to participate. However, the business must have launched a minimum-viable-product that is not just at an idea stage.
Once all applications have been received, seven to ten start-ups will be shortlisted to join the 8-week program. During the programme, each start-up will be provided with opportunities to meet one-on-one with Falak teams, mentors and industry experts during workshops, events or private discussions. The start-ups will benefit from the guidance of entrepreneurs, technologists, as well as sophisticated investors, aimed at supporting their growth.
At the end of the program, all start-ups will be provided with the chance to pitch to over 40 angel investors, Venture Capital and family offices representatives through Falak Angels (the 2nd established angel network in the Kingdom). Winners of this year’s cohort will receive up to USD $50,000 in total funding.