Standard Chartered, in partnership with Village Capital, has launched the sixth edition of its Futuremakers Women in Technology Incubator in Nigeria, reaffirming its commitment to empowering women-led businesses through technology and innovation.

The programme, part of the lender’s global Futuremakers initiative, aims to promote the economic and social development of women in Nigeria by equipping them with entrepreneurial tools, mentorship, and access to capital.

Since its inception in Nigeria in 2019, the incubator has supported 25 female-led ventures, disbursing more than $250,000 in seed funding and providing leadership advisory services, the bank said in a statement on Friday.

This year’s cohort will offer 10 young businesswomen the opportunity to participate in a rigorous 12-week executive boot camp featuring expert-led entrepreneurial training. Mentorship from seasoned business development professionals, investor pitch opportunities, and access to a vibrant community of female innovators.

At the end of the training, five winners will be selected based on the strength of their ideas and business viability. Each will receive up to $10,000 in equity-free grants, along with ongoing business advisory and mentoring support to help scale their ventures.

Commenting on the launch of the fifth edition, Head of Corporate Affairs, Brand and Marketing, Nigeria, Standard Chartered Bank Nigeria Limited, Joke Adu, said, “We are pleased to continue empowering female entrepreneurs in Nigeria through the SC Women in Tech Incubator.

“We are optimistic about the impact this programme will have on the socio-economic empowerment of women entrepreneurs in Nigeria. The support the beneficiaries get will go a long way in ensuring the sustainability of their businesses while creating employment for more women and youths in the country.”

She added that, “We are excited about the endless growth opportunities and ripple effect impact this growth will have on the economy. This initiative builds on the bank’s track record of increasing women’s access to entrepreneurial finance and employability and supporting adolescent girls and women through financing and capacity building.”

The Director of the Enterprise Development Centre, Pan-Atlantic University, Dr Nneka Okekearu, said, “Accelerating women in technology to scale is crucial for fostering innovation and growth in the ecosystem. In collaboration with the Standard Chartered Foundation and Village Capital, we are excited to support and launch the sixth cohort of enterprising women to lead and continue to innovate across Africa’s growing digital economy.”

The Women in Tech Incubator programme was first launched by Standard Chartered in 2014 at the City College of New York, USA. Nigeria was the second African market to adopt the initiative, which is implemented in partnership with the EDC of Pan-Atlantic University. Since its Nigerian launch in 2019, the programme has expanded to other markets, including Bahrain, Zambia, Kenya, and the UAE.

Supported ventures span diverse sectors such as agriculture, fashion, renewable energy, health, education, and sustainability, reflecting the transformative potential of women-led innovation.