womena® graduated the second cycle of its Womentum Accelerator, empowering seven of the top female-led tech startups from the Middle East and North Africa (MENA).
After four months of acceleration, the founders are now well-positioned to grow and scale their businesses in the region.
“When womena® preaches diversity as a core value of innovation, we mean diversity in all aspects: gender, experience, faith, industry, age, and socio-economic levels,” says Elissa Freiha, founder of womena®. “We are proud of the true diversity shown amongst this year’s Womentum cohort.”
Womentum 2019, a women in tech accelerator by womena® in partnership with Standard Chartered, took the startups to Berlin and Dubai for an immersive experience in the two vibrant hubs, with a remote mentorship period in between, before wrapping up with an exclusive Demo Day on October 10.
Standard Chartered awarded three startups equity-free cash prizes worth a total of $50,000 at Demo Day, after the cohort pitched to an audience of the region’s top investors and ecosystem players.
Winning $25,000 in the first place, FreshSource (Egypt) is disrupting the agri value chain through innovative solutions that connect smallholder farmers to the modern value chain. The second place worth $15,000 went to Pas-sport (Egypt), setting out to transform athletes’ lives by unlocking global opportunities and connecting them to sports scholarships. The third prize winner of $10,000 was Dimension 14 (UAE), a one-stop-shop for advanced planning problems within a single AI-powered application.
“After four months of accelerating talented women-led startups, we are proud to see the cohort graduate and join the growing community of successful startups in the region,” says Rola Abu Manneh, CEO of Standard Chartered Bank UAE. “The Women in Tech program is a promising step in the right direction, capturing the essence of the bank’s sustainability strategy of future makers, enabling the next generation to learn, earn and grow,” says Abu Manneh.
Through the program, the top-performing startups will also receive up to $100,000 in direct investment from the founder of womena®.
Supported by Event Sponsor Google for Startups, this year’s Demo Day was an exclusive event for investors, mentors and media, showcasing the startups to the regional ecosystem.
“Womentum 2019’s graduating cohort has been through four months of intense business building and development in order to be ready to scale and be hypergrowth b