Standard Chartered supports Women Entrepreneurs in the UAE
7 women entrepreneurs compete for a total of USD 100,000 in funding
Standard Chartered Bank announced the launch of its entrepreneurs’ Demo day where seven (7) women entrepreneurs in the UAE presented their business ideas for a chance to win the seed money for their projects.
The Demo day, which is part of Standard Chartered’s Women in Tech programme, is held in partnership with the Dubai International Financial Centre (DIFC) Fintech Hive and Hub71 and targets female-led entrepreneurial teams to provide them with training, mentorship, and seed funding.
Rola Abu Manneh, CEO of Standard Chartered Bank UAE, said: “Diversity is what sets us apart from our peers. As part of our commitment to be Here for Good, we continuously seek to support young women and small businesses gain access to the financial system to grow their business. We are proud to partner with likeminded organisations such as the DIFC Fintech Hive and Hub71, who support our stand in lifting participation and bridging the vast funding gap that still exists for women entrepreneurs.”
Raja Al Mazrouei, EVP Fintech Hive, DIFC, said: “We are very proud to have partnered with Standard Chartered on the “Women in Tech” initiative. It is a pleasure to witness these females founded start-ups finalists develop and grow during the course of the programme. Empowering female founders echos our efforts at the FinTech Hive so it’s amazing to collaborate on such initiatives taken by leading financial institutions to expand the talent pool, push inclusion in the industry, and strengthen the ecosystem to better service the innovation agenda held on a local and international level”
Peter Abou Hachem, Business Development, Hub71, said: “Our partnership with Standard Chartered and DIFC Fintech Hive reinforces our commitment to promoting women in technology. By combining our strengths as leading organisations dedicated to advancing innovation, we can collectively unlock the full potential of female entrepreneurs. In doing so, we can nurture the ideas of women and foster a more diverse and inclusive technology ecosystem that is vital to driving sustainable economic growth.”
Women in Tech programme is geared towards empowering female entrepreneurs to confront the challenges of uncertain times as they grow their impact-driven businesses across the region. To date, Standard Chartered UAE has accelerated two cohorts, comprising of 12 start-ups, who have collectively raised over USD 5 million from various venture capitalists to expand their businesses within and outside of the UAE.