Standard Chartered and Falak Holding have concluded the fourth cohort of the Women in Tech Saudi Arabia programme in Riyadh. At the recent Demo Day, three women-led startups received equity-free grant funding totalling 45,000 dollars. The initiative reflects a growing effort to accelerate female entrepreneurship and align startup growth with Saudi Vision 2030.
Programme Structure and Participation
The eight-week accelerator supported ten women-led startups selected from 251 applications that were received from different regions across Saudi Arabia. Participants benefited from structured workshops, one-on-one mentoring, business development support, investment readiness training and intensive pitch preparation. The competitive selection process highlighted both the depth and diversity of female entrepreneurial talent emerging across the Kingdom.
Demo Day and Equity-Free Awards
At the Riyadh Demo Day, three participating startups were awarded equity-free grant funding totalling 45,000 dollars. The grants are intended to help early-stage companies strengthen operations, refine their products, and pursue further investment without diluting founder ownership. The winners were selected after presenting their business models and growth plans to an expert panel.
Winners and Their Sectors
GigSA is an AI-enabled event workforce management company that helps organisers coordinate staffing more efficiently. Lesser for Sustainability Solutions focuses on sustainability and circular economy technology, supporting resource efficiency and waste reduction. Munji operates in cardiac health technology and uses wearable devices, the Internet of Things and artificial intelligence to support heart health, reflecting the diversity of the selected enterprises.
Leadership Perspectives
Mazen Bunyan, Chief Executive Officer and Head of Coverage for Saudi Arabia at Standard Chartered, said the programme reflects the bank's commitment to supporting the Kingdom's innovation economy. He noted that empowering women entrepreneurs with tools, networks and capital helps scale impactful businesses. He added that women-led startups contribute to economic diversification, job creation and sustainable growth in line with Vision 2030.
Falak Holding on Entrepreneurial Progress
Adwa AlDakheel, Founder and CEO of Falak Holding, said the programme's value should be measured by progress within each company rather than by the number of sessions or Demo Day presentations. She highlighted improvements in business model clarity, decision quality, and the ability to reach markets and access capital. She added that founders moved from planning the next step to building companies better prepared for it.
Falak's Broader Entrepreneurial Role
Falak Holding is a Saudi entity that enables the entrepreneurship ecosystem and supports startups, investors, and public and private organisations. Since its founding in 2018, Falak has supported more than 180 startups and over 40,000 beneficiaries through growth services, project financing, angel investment aggregation and strategic partnerships. Its portfolio market value exceeds 1.3 billion Saudi riyals.
Judging Panel and Cumulative Impact
Founders presented their ventures to a judging committee that included representatives from Standard Chartered, Falak Holding, the Ministry of Communications and Information Technology, Monsha'at, and Flat6Labs. Standard Chartered launched the Women in Tech programme in Saudi Arabia in March 2022 as part of its global initiative. Since then, the programme has supported 40 women founders and awarded a total of 190,000 dollars in equity-free funding to 12 startups.
The fourth cohort of Women in Tech Saudi Arabia reinforces the role of targeted acceleration in advancing women-led ventures. By combining capacity building with direct funding, the programme helps founders strengthen their businesses and access new opportunities. Its cumulative results point to a growing ecosystem of women entrepreneurs contributing to the Kingdom's long-term economic transformation.