Riyadh – Sharikat Mubasher: Standard Chartered, in partnership with Falak Holding, announced the closing of the fourth cohort of its Women in Tech Saudi Arabia program, awarding $45,000 in equity-free grants to three women-led startups at a Demo Day in Riyadh.

As per a recent press release, the eight-week accelerator supported 10 women-led startups selected from 251 applications across Saudi Arabia. Participants received workshops, mentorship, business development support, investment-readiness training, and pitch preparation.

The three winners include GigSA, an AI-enabled event workforce management company; Lesser for Sustainability Solutions, a sustainability and circular economy technology company; and Munji, a cardiac health technology company using wearable devices, Internet of Things (IoT), and artificial intelligence.

On this occasion, Mazen Bunyan, Chief Executive Officer and Head of Coverage, Saudi Arabia, Standard Chartered, said the program aims to equip women entrepreneurs with the tools, networks, and capital needed to scale their businesses and contribute to economic diversification and sustainable growth.

Meanwhile, Adwa Al Dakhel, Founder and CEO of Falak Holding, said the program’s impact is reflected in the progress companies make in strengthening their business models, market readiness, and ability to access capital.

Since launching in Saudi Arabia in 2022, the program has supported 40 women founders and awarded $190,000 in equity-free funding to 12 startups.