inDrive owned Aurora Tech Award has announced that applications for the 2024 cycle have begun with funding totalling $85,000.
The award, established in 2020, is open to women tech entrepreneurs from around the world, offers opportunities to showcase their innovations. According to the firm, the applications for the award are open beginning September 2, 2024, till November 21, 2024.
The firm noted that the last two consecutive years have seen African innovators win the coveted top prize, offering an exciting opportunity
for female tech visionaries across Africa to step into the global spotlight and make their mark once again.
Read also: FCMB launches HERccelerate to support female tech founders
This year, however, the firm says that the award returns with expanded opportunities, increased financial support, and an ongoing commitment to nurturing the next generation of women tech leaders.
To achieve this goal, the prize fund has been increased to $85,000 with new prize distribution with the 1st Prize taking $30,000, the 2nd Prize taking $20,000, 3rd Prize: $15,000, 4th Prize: $10,000 and 5th Prize taking $10,000.
According to the firm, the application process for the award will include three stages of assessment; the longlist, midlist, and shortlist.
“After an initial evaluation by venture fund analysts, 100 participants will be selected for a pitching session with fifteen of them to be
advanced to the final shortlist. After that, shortlisted participants will also benefit from an enhanced mentoring program offering sessions
with leading industry experts. This mentorship will span 2 to 2.5 months and will provide critical insights and guidance to help participants refine their projects and implement strategic changes,” the firm said.
To be eligible to participate, women entrepreneurs must own or co-own a startup, the startup should have received funding or seed round less than or equivalent of $4million, startup must be 5 years or less, and a minimum viable product to showcase.
Asya Vildt, Operations Excellence and Sustainability Director at inDrive, stated that the company remains committed to women’s
empowerment adding that supporting women in tech isn’t just about leveling the playing field but about unlocking the full potential of
innovation.
“Women entrepreneurs bring fresh perspectives that are essential for solving today’s complex problems. At inDrive, we are committed to
creating opportunities that empower women to lead in technology, as their success drives positive change across industries and communities.
Read also: Alert Group drives financial inclusion through female empowerment
The Aurora Tech Award reflects our belief in the power of diverse leadership to shape a better, more sustainable future,” Vildt said.
Folake Owodunni, 1st prize winner of the 2024 Aurora Tech Award and founder of Emergency Response Africa in Nigeria, emphasised the
importance of this platform, “I don’t dwell on whether it’s because I’m a woman, or because of my colour, or simply personal dislike. As
entrepreneurs, we build resilience. We optimise for those who understand or align with us in some way. They don’t have to agree with everything, but at least there’s common ground”.
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