Falak Investment Hub successfully concluded the third edition of its “Women in Tech” program, a national initiative dedicated to empowering female-led startups in the Kingdom of Saudi Arabia (KSA). This cohort celebrated three outstanding founders who leverage technology to create tangible impact, awarding a total of $45,000 in equity-free grants. The program, which is part of the global Standard Chartered Futuremakers Women in Tech initiative, focuses on accelerating Saudi-based, women-led, tech-enabled startups through mentorship, growth training, and investor exposure to contribute to the Kingdom’s economic diversification goals under Vision 2030.
Celebrating Innovation Across Key Sectors
The three winning startups showcased advanced applications of Artificial Intelligence (AI) and deep technology across high-growth sectors:
- AYA (Fashion Tech/AI): AYA utilizes AI to forecast abaya trends, enabling production to align closely with predicted demand. This technology not only creates more personalized fashion experiences for customers but also addresses sustainability by significantly reducing textile waste in the fashion supply chain.
- Pixconvey (Logistics/Autonomous Delivery): Pixconvey is building a cutting-edge, universal autonomous delivery platform. Its core innovation lies in mapless navigation and over-the-air software updates, allowing for seamless, infrastructure-free operations crucial for large-scale, flexible deployment across various environments.
- SDM (HealthTech/AI): SDM is a HealthTech startup that leverages AI to provide early and affordable diagnosis for chronic diseases, such as diabetic retinopathy. The company reported achieving an impressive 97% accuracy rate, highlighting its potential to revolutionize preventative healthcare and address major public health challenges in the region.
Each of the three founders received a grant of $15,000 to fuel their continued growth and product innovation, celebrating their role in redefining purpose-driven leadership in technology.
About Falak Investment Hub
Falak Investment Hub is a leading full-fledged investment firm and accelerator in Saudi Arabia, focused on identifying, nurturing, and investing in early-stage companies. Falak operates various programs, including angel networks, acceleration programs, and boot camps, all dedicated to empowering entrepreneurs and fostering innovation in the Kingdom and the wider MENA region. The “Women in Tech” program, executed locally by Falak in partnership with Standard Chartered, is a pillar of its mission to support inclusive growth and develop national talent in the technology sector.
