Standard Chartered and Falak Holding have awarded $45,000 in equity-free grants to three women-led startups at the fourth Women in Tech Saudi Arabia Demo Day in Riyadh.
The eight-week accelerator supported 10 startups selected from 251 applications across Saudi Arabia. Participants received workshops, mentoring, business development support, investment-readiness training and pitch preparation.
The winners were GigSA, an AI-powered event workforce management company; Lesser for Sustainability Solutions, which develops sustainability and circular economy technology; and Munji, a cardiac health technology startup using wearable devices, the Internet of Things and artificial intelligence.
Standard Chartered launched the Saudi programme in March 2022 as part of its global Women in Tech initiative. Since then, it has supported 40 women founders and provided $190,000 in equity-free funding to 12 startups, according to the announcement.
Founders presented their ventures to a judging panel that included representatives from Standard Chartered, Falak Holding, Saudi Arabia’s Ministry of Communications and Information Technology, Monsha’at and Flat6Labs.
Source: EntArabi
