Standard Chartered and Falak Investment Hub announce the launch of the first cohort of the ‘SC Women in Tech’ program in Saudi Arabia.

The 8-week program aims to support women-led startups in Saudi Arabia by providing women entrepreneurs with opportunities for economic and social development as well as funding. This is part of the bank’s global ‘Women in Tech’ initiative that is currently available in 6 other countries. 

Earlier this year, Saudi Arabia announced that it will be allocating over $6.4 billion in future technologies and entrepreneurship investments as a key pillar of its 2030 Vision.

“Women entrepreneurs in KSA have the potential to make a huge impact, and our goal with this program is to help them realize their vision, aligned with the country’s broader economic goals and Vision 2030. We are excited to create a platform that will enable these start-ups to access the resources and mentorship they need in order to reach their potential and establish the solid infrastructures for them to go global thereafter through our partnership with Standard Chartered. We strongly believe that initiatives such as this are key drivers of change for women entrepreneurs, female-led startups, and the Saudi economy at large,” Adwa Al Dakheel, Founder and CEO of Falak Investment Hub, said.

The program is sector agnostic, enabling any tech-enabled startup headquartered in Saudi Arabia, and led by a female, to participate.

At the end of the program, all startups will pitch to over 40 angel investors, VCs, and family office representatives through Falak Angels. Winners will receive up to USD $50,000 in total funding.