Karachi, July 20, 2023 – Standard Chartered, in collaboration with INNOVentures Global (Pvt.) Ltd., has announced the launch of the 5th cohort of its Women in Tech (WiT) program in Pakistan.
As a flagship initiative of Futuremakers by Standard Chartered, the bank’s global initiative to address inequality and promote economic inclusion, the Women in Tech program is specifically designed to tackle gender disparity in entrepreneurship. Through this program, the bank provides support to female-led enterprises by offering capacity building through business management training and mentoring, facilitated by its award-winning accelerator program.
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The Women in Tech initiative was introduced in Pakistan in 2019 and has garnered interest from over 1,200 female-led enterprises, with 88 female founders participating in the bank’s accelerator program. Among these entrepreneurs, 26 enterprises have successfully secured seed funding after graduating from the accelerator program and presenting their final pitches.
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Speaking about the launch, Mr. Rehan Shaikh, Chief Executive Officer of Standard Chartered Pakistan, emphasized the bank’s commitment to supporting small businesses’ growth and advancing financial inclusion and education. He stated that the Women in Tech program aligns with the government’s agenda and aims to assist female-led enterprises in leveraging technology to upscale their businesses. Over the past four years, the initiative has emerged as a significant platform for aspiring women entrepreneurs in Pakistan, providing opportunities, removing barriers, and fostering financial inclusion.
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Partnering with INNOVentures Global, the Standard Chartered Women in Tech program aims to promote the economic and social development of women in Pakistan through innovation and technology-led entrepreneurship. The program seeks to identify and nurture female-led businesses, helping them bring unique business ideas to the market while celebrating women’s achievements in Pakistan.
The Women in Tech Incubators/Accelerators were first launched by Standard Chartered Americas as a local community project in October 2014. Since then, the program has expanded to thirteen countries and, as of April 2023, has supported more than 3,200 female entrepreneurs globally.
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The Women in Tech initiative underscores Standard Chartered’s commitment to increasing women’s access to entrepreneurial finance and empowering adolescent girls and women through capacity building, aligning with their Futuremakers community strategy of enabling the next generation to learn, earn, and grow.
