FCMB launches HERccelerate to support female tech founders

First City Monument Bank (FCMB) has launched HERccelerate, a tech accelerator dedicated to driving innovation and empowerment of women-founded tech startups in Nigeria.

The initiative is powered by the bank’s SheVentures and Hub One innovation hub and will be implemented by 8thGear Hub and Venture Studio.

According to FCMB, the initiative aims to equip women-founded startups with the skills, knowledge, and networks needed to access funding and grow sustainably. The bank said that the application for the HERccelerate programme was open to all female founders on www.fcmb.com/herccelerate/, and is expected to close on September 30, 2024.

Accordingly, the initiative offers women-led startups in various sectors including Fintech, Agritech, Healthtech, Edtech, and E-commerce – funding opportunities, among other rewards. “We recognize the challenges women-owned tech businesses face, from funding gaps to biases that limit their growth,” Yemisi Edun, managing director, FCMB stated.

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According to her, the initiative underscores the bank’s commitment to nurturing innovation and empowering women-owned businesses, especially Small and Medium-Scale Enterprises (SMEs) in the tech space, to pursue their dreams and contribute significantly to the tech ecosystem and the country’s economic development.

“The HERccelerate contest is our platform to foster innovation and create more funding opportunities for female-owned and led ventures. We encourage women entrepreneurs to seize this opportunity to make a lasting impact,” Edun stated.

She disclosed further that participants will undergo intensive training, including office hours and field trips to successful local startups and networking events with accomplished founders. According to her, this comprehensive support system provides access to knowledge, resources, investors, markets, and networks for participants.

Edun stated further that the accelerator will culminate in a showcase day, where winners will receive grant funding and other benefits, including access to potential investors.