Standard Chartered and Saudi-Based Falak Holding Award $45,000 to Three Women

Standard Chartered and Saudi-Based Falak Holding Award $45,000 to Three Women-Led Startups

Standard Chartered, in collaboration with Saudi-based Falak Holding, has concluded the fourth cohort of its Women in Tech Saudi Arabia programme, awarding three women-led startups a total of $45,000 in equity-free grants during Demo Day in Riyadh

The eight-week accelerator supported 10 women-led startups, selected from 251 applications submitted from across Saudi Arabia. The programme provided participants with specialised workshops, mentorship, business development support, investment-readiness training, and pitch preparation to help founders strengthen their businesses and prepare for growth

The three winning startups were GigSA, an artificial intelligence-powered event workforce management company; Lesser for Sustainability Solutions, which develops technology focused on sustainability and the circular economy; and Munji, a cardiac health technology company using wearable devices, the Internet of Things, and artificial intelligence

The programme reflects Standard Chartered’s continued focus on supporting women entrepreneurs and contributing to Saudi Arabia’s innovation economy by providing founders with access to expertise, networks, and capital

The initiative also supports broader efforts to strengthen the Kingdom’s private sector, encourage economic diversification, create jobs, and advance the objectives of Saudi Vision 2030

Falak Holding highlighted the progress made by participating founders throughout the accelerator, particularly in strengthening their business models, improving decision-making, preparing for market expansion, and enhancing their ability to access capital

The startups presented their businesses to a judging committee that included senior representatives from Standard Chartered, Falak Holding, the Ministry of Communications and Information Technology, Monsha’at, and Flat6Labs

Standard Chartered launched its Women in Tech programme in Saudi Arabia in March 2022 as part of its global initiative supporting women entrepreneurs

Since its launch, the Saudi programme has supported 40 women founders and provided a total of $190,000 in equity-free funding to 12 startups