In the lively streets of Singapore, where creativity and hope come together to shape the city, there’s an exciting project to support and empower young aspiring women entrepreneurs who want to start their entrepreneurial journey.
Standard Chartered Bank has teamed up with Singapore Management University’s Lien Centre for Social Innovation to launch an incubator programme to kick-start young women’s start-up journey. Under the bank’s global initiative (Futuremakers by Standard Chartered) to tackle inequality by promoting greater economic inclusion, the Women in Entrepreneurship Incubator (WiE) aims to provide an avenue for young women to learn and develop entrepreneurial skills through personalised mentoring and masterclasses.
If you’re feeling excited and want to be part of this journey to make positive changes, you can find out more and sign up by clicking on the link below: Apply Here.
Visualise this initiative as a vibrant room bustling with determined women, each radiating bright ideas in their eyes and nurturing ambitious plans within their hearts. This journey starts from its very beginning – a clear truth showing the tough challenges that women entrepreneurs in Southeast Asia have faced. These bright minds have had a hard time getting help from mentors, making connections, and fundraising for their projects.
Their stories of trying to succeed have been full of different obstacles, which have made their entrepreneurial journey challenging.. The numbers tell a clear story – according to a report from 2020 by the International Finance Corporation (IFC), only a small 8 percent of money given to new businesses goes to those led by women. This is surprising because these amazing women make up a big 30 percent of all the people trying to start businesses in this area.
However, let’s shift our focus from the challenges to the essence of this initiative.
– the Women in Entrepreneurship Incubator. This safe haven is designed to support the dreams of new female entrepreneurs and those who wish to take their businesses to the next level. A total of SGD$80,000 equity-free seed funding is available for top-performing teams of the incubator. The shortlisted teams from 10 early-stage impact-focused startups will be invited to undergo a series of masterclasses, mentoring, and pitching to be awarded with seed funding for their startups. Here, dreams will be nurtured, and creative ideas will find a welcoming environment to grow.
Made carefully to tackle the problems that have been stopping women from becoming entrepreneurs, this incubator mixes teaching, advice, and financial support to help young women succeed in their businesses. The plan at its core is simple but effective: give these determined women the skills they need and watch them overcome the challenges they face.
Around 20 of these special thinkers from 10 new startups that focus on making a positive impact will be chosen to start a journey of big changes. Their journey goes from October 2023 to March 2024. During this time, they will take part in important classes, get guidance from mentors, and practice presenting their ideas. This journey isn’t just about learning how to run a business; it’s about becoming strong and able to handle challenges. As this important journey reaches its exciting end, a new part begins – some of these startups will get money to start their projects. But there’s something important to note – these chosen teams aren’t just regular startups; they are like guiding lights for making the world a better place.
These startups and their ideas for big changes, need to match at least one of the 17 United Nations Sustainable Development Goals (UN SDG). This rule reminds us that business is more than just profit-making. It’s about combining the world of business with the responsibility of making society better.
These women, these leaders of change, won’t just leave with money and knowledge; they will leave with a network. A network that’s like a puzzle made of friends and mentors, a safe place of help that’s always available.
The door is open for women who want to join the Women in Entrepreneurship Incubator. If you’re a woman entrepreneur in Singapore who wants to do better in business and make a real change, this is a great time to take this chance.
This is an invitation to be part of a new story for women in business. The stage is ready, the curtain is up, and the spotlight is on you. Will you answer the call?