Five women-led Ugandan startups secure $50k in Standard Chartered funding
Five women-led technology and tech-enabled businesses in Uganda have secured a combined $50,000 in catalytic funding through the Standard Chartered Foundation Women in Tech (WiT) Programme.
Each startup, including AeroCAD Learner, Ingo Female Transporter, MobiKlinic Holdings, Rhizonecare Ventures and Che Innovations Uganda, received $10,000 after emerging from a competitive pitching process held during the graduation of the programme’s second cohort at Sheraton Kampala Hotel.
The funding is expected to help the businesses advance their growth and scalability plans as they build on the skills and networks gained through the six-month business acceleration programme.
The five beneficiaries were selected from 20 women-led businesses that completed the programme, which offers mentorship, investment-readiness training, business development support and opportunities to connect with investors and other stakeholders in Uganda’s innovation ecosystem.
The three-year initiative is funded by the Standard Chartered Foundation and implemented by Innovation Village in partnership with Future Lab. It aims to address the challenges women entrepreneurs face in growing and scaling technology-driven businesses.
Speaking during the graduation ceremony, Japheth Kawanguzi, Chief Executive Officer of Innovation Village, said the funding would help the selected businesses apply the knowledge and connections developed during the programme.
“The catalytic fund provides these founders with an opportunity to translate the knowledge, networks and investment-readiness skills gained through the programme into the next phase of their businesses. More importantly, the showcase creates a platform for them to connect with investors, partners and collaborators who can support their continued growth,” he said.
Kawanguzi added that the programme has highlighted the ability of women entrepreneurs to develop technology-based solutions across multiple sectors, while noting the importance of continued support as businesses transition from early-stage operations to scale.
Jonard Asiimwe, Minister of Science, Technology and Innovation, who served as the chief guest, said supporting women innovators was important to Uganda’s economic and digital transformation efforts.
“As we celebrate this graduating cohort, let us remember that the future of Uganda’s economy will be shaped not only by the investments we make in infrastructure and institutions, but also by the investments we make in people,” he said.
Asiimwe also highlighted the need for collaboration between government, private sector players, development partners and universities to strengthen the environment for innovation and entrepreneurship.
Margaret Kigozi, Head of Corporate Affairs, Brand and Marketing at Standard Chartered Bank Uganda, called for increased collaboration to develop a stronger pipeline of women-led businesses capable of attracting investment.
“Today, we celebrate more than just the culmination of a six-month journey. We celebrate courage, innovation and the belief that when women lead in technology, they don’t just change their own lives, they transform entire communities, entire economies and our shared future,” Kigozi said.
She urged stakeholders to improve women entrepreneurs’ access to funding, visibility and sustained support throughout their business journeys.
Sanjay Rughani, Chief Executive Officer of Standard Chartered Bank Uganda, congratulated the participating entrepreneurs and the five recipients of the catalytic funding.
“Today, we celebrate not only your completion of this programme but also your commitment to building solutions that address real challenges and create opportunities for others. I congratulate all of you and extend special congratulations to the recipients of the US$10,000 catalytic funding,” Rughani said.
Rughani added that the Women in Tech Programme supports Uganda’s national development priorities and the Tenfold Growth Strategy, adding that the bank remains committed to initiatives that promote inclusive economic growth.
The five funded businesses will deploy the investment towards their individual growth objectives, following the technical, business development and investment-readiness support provided through the programme.
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