Two Egyptian startups have been chosen to participate in the third edition of the Womentum Accelerator, which offers resources and the ability to obtain funding for women-led tech start-ups in the Middle East and North Africa (MENA).
The Womentum Accelerator, run by women in collaboration with Standard Chartered’s Women in Tech initiative, is a three-month acceleration program designed to motivate entrepreneurs to meet the challenges of uncertain times as their impact-driven businesses expand.
Womentum has tailored its curriculum to offer start-ups the tools they need to tackle challenging times like the COVID-19 pandemic, while Standard Chartered will grant a total of US$ 30,000 in equity-free prize money to the three top-performing start-ups at the end of the programme.
Founders will also have access to the broader women’s ecosystem partners network and each entrepreneur will provide tech, legal, and consulting services worth more than US$ 20,000.
The five companies selected include two from Egypt: Explore Agora, an ed-tech company that links education with the real world through gamified learning experiences, and The Hair Addict, an online shop for natural hair products and equipment.
Podcast network Finyal Media (UAE), e-commerce business Mint Basil Market (Lebanon), and the Shadana Yoga (Palestine) learning site are also chosen.
“We are ready to continue with our Womentum Accelerator in 2020 having changed its structure, content, as well as the cohort’s eligibility to reflect the major changes brought on by the COVID-19 crisis,” said Elissa Freiha, female founder and managing director.
“We want to prove that we will never stop working for equality, and that real creativity comes from perseverance and diversity of thinking to resolve needs in a time of crisis.”