StanChart and SMU Launches Women in Entrepreneurship Incubatorby Fintech News Singapore June 12, 2023
Standard Chartered Bank has launched a new Women in Entrepreneurship Incubator in partnership with Singapore Management University’s (SMU) Lien Centre for Social Innovation.
The Incubator is funded by the bank’s US$300,000 donation to the university to support female entrepreneurship focused on achieving social impact.
Up to 20 female entrepreneurs from 10 early-stage impact-focused startups will have the opportunity to undergo a series of masterclasses, mentoring, and pitching exercises during the incubation programme period between October 2023 to March 2024,
This will culminate in the selection and awarding of seed funding for their startups where the five best performing teams will receive up to S$80,000.
The teams that are selected are required to be active in a business, or to present a business idea, that addresses at least one of the 17 United Nations Sustainable Development Goals (UN SDG) and focus on at least one of SMU’s strategic priorities of digital transformation, sustainable living, and growth in Asia.
Upon completion of the Incubator journey, the 10 teams will receive post-programme support from the SMU Lien Centre for Social Innovation.
All participants enrolled in the Incubator will join a wider network of entrepreneurs and have access to exclusive, long-term support from a community of like-minded peers and mentors.
The 2023 cohort of the Women in Entrepreneurship Incubator will be the first of several, with new participants joining the Incubator in future instalments.
Applications for the Women in Entrepreneurship Incubator are now open until 1 September 2023.
“We are pleased to support the Women in Entrepreneurship Incubator programme, which will nurture young female entrepreneurs aspiring to achieve social impact and help drive a more inclusive entrepreneurship culture for all.
SC Ventures was set up with the conviction that banking can be pioneering in order to play a critical role in the growth and welfare of societies.”
said Alex Manson, Global Head, SC Ventures, the fintech investment and venture unit of Standard Chartered.
“The Lien Centre for Social Innovation is delighted to be part of the movement aimed at increasing gender equity in business ownership and entrepreneurship in Singapore.
With the Women in Entrepreneurship Incubator, we are especially keen to support enterprises that create a sustainable impact, within the overall context of contributing to the United Nations’ Sustainable Development Goals,”
said Steve Loh, Executive Director, SMU Lien Centre for Social Innovation.