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2nd Cohort of Women in Tech

Saudi Acceleration Program

The Standard Chartered Bank launches the second cohort of “Women In Tech” Initiative in Saudi Arabia in Collaboration with Falak Investment Hub. The 8 Week of the program aims to support women-led startups in Saudi by promoting women entrepreneurs economic and social development through tech-focused entrepreneurship.

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Cohort 1 Memories

In collaboration between Standard Chartered Bank and Falak Investment Hub, the inaugural cohort of Women in Tech Program, Saudi edition, ran in Q1 of 2023 and hosted eight startups through an eight-week acceleration program aimed at helping the female entrepreneurs scale their tech businesses. The program showcased innovative ideas in various sectors, including fintech, health tech, property tech, and edutainment.

Three Saudi Arabia-based female-led startups have been awarded $50,000 in equity- free rewards, as part of the Standard Chartered Women in Tech program:

First place: Sahm, FinTech
Second place: Nqoodlet, FinTech
Third place: Chefaa, HealthTech

Become the Next Winner.

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Program Benefits

1. One-to-One Mentorship

Startups have opportunities to meet 1-on-1 with Falak teams, mentors and industry experts during meetup events, talks, or through personal introductions. Your startup will benefit from the guidance of entrepreneurs, technologists, and sophisticated investors to support your growth.

2. Training and Workshops

Through workshops and training, we focus on investing in the mindsets of founders & teams following 4 stages:

STAGE 01

Startup & Growth Infrastructures

STAGE 02

Product & Business Model Innovation

STAGE 03

Market Acceleration

STAGE 04

Fundraising & Investment Readiness

3. Perks and Discounts

  • Free access to Falak Business Hub for 8 weeks in Riyadh, Saudi Arabia.
  • Access to Falak’s community activities and events.
  • Get access to Falak’s partners to support your business development
    growth and cost-optimization.

50+

Local, regional, and international partners

$150,000

Worth of discounts and perks

4. Funding Support

The top 3 performers of the acceleration program will get:

  • Equity-free grants seed funding to assist with the operations of their businesses.
  • Chance at pitching to over 40 angel investors, VC and family offices representatives through Falak Angels (2nd angel network in the Kingdom).
1st

Place

$25,000 USD

2nd

Place

$15,000 USD

3rd

Place

$10,000 USD

Program Eligibility Criteria

Female-Led Startups

A female co-founder/founder or female-led startups.

Post-MVP Product

Launched minimum-viable-product and not idea-stage.

Technology-Enabled

Product or service enabled by technology to fulfill the service offering.

Operating in Saudi

Operational and servicing the Kingdom of Saudi Arabia.

Program Timeline

Start
29 October,2023 Applications Open
25 November,2023 Applications Close
December 2023 Selection
December 2023 - February 2024 Program Runs
March 2024 Demo Day
Start
29 October,2023 Applications Open
25 November,2023 Applications Close
December 2023 Selection
December 2023 - February 2024 Program Runs
March 2024 Demo Day
Join the Program

FAQs

The program will be a hybrid of online and offline depending on the activity.

We will be looking at early-stage startups, who have proven their concept with an MVP.

Absolutely! Our goal is to connect you with mentors and industry experts in various fields who will help guide you through sharing knowledge and best practices.

Applications are open from 29 October,2023 till November 25,2023 for applicants to submit their innovations through the application form. Finalists will pitch to the selection Committee in December 2023. the selected startups will join the 8-week program, followed by pitching at the Demo Day for a chance to win one of the funding prizes of the top 3 prizes ( total of $50,000.)

The program is sector agnostic, any Saudi operating startup that is technology-enabled with a female founder or co-founder or female-led teams can apply.

We require our Founders to be fluent in English and Arabic, as the program’s language & mentors will be a hybrid of both.