In a significant move to address the gender funding disparity in India's technology sector, Prosus, one of the world's leading tech investors, has launched the Tech FoundHER Challenge. This initiative offers $50,000 in equity-free funding to women-led tech startups, aiming to empower female entrepreneurs with the necessary resources to scale their businesses.
Collaborative Effort for Empowerment
The challenge is a collaborative effort between Prosus, Encubay, a global network dedicated to promoting equity in entrepreneurship, and VAIA Climate, an investment advisory firm. The partnership focuses on providing female founders with capital, mentorship, and access to international networks, facilitating their growth and success in the tech industry.
Addressing the Gender Funding Gap
Despite advancements, women remain significantly underrepresented in tech and venture capital funding. Studies indicate that women-led startups receive less than 5% of global VC funding. The Tech FoundHER Challenge seeks to bridge this gap by offering tangible support to female entrepreneurs, enabling them to innovate and lead in the tech space.
Application Process and Timeline
The challenge invites applications from women-led tech startups until April 4, 2025. A total of thirty startups will be shortlisted, with six finalists selected to pitch in person on May 25, 2025, in Bangalore. Three winners will each receive $50,000 in non-dilutive capital to accelerate their business ventures.
Esteemed Jury Panel
Participants will have the opportunity to present their ideas to a distinguished panel of investors and industry leaders, including:
- Anjali Bansal, Avaana Capital
- Archana Jahagirdar, Rukam Capital
- Ronak Sandil, Amazon Ventures
- Apurva Dixit, Blume Ventures
- Martin Tschopp, CEO, Prosus Ventures
- Priyanka Chopra, CFO, Prosus Ventures
Statements from Key Stakeholders
Deeksha Ahuja, Founder of Encubay, emphasized the alignment of the challenge with their mission:
"Encubay was built to bridge the equity gap for women entrepreneurs. This challenge aligns perfectly with our mission of empowering female founders with capital, networks, and mentorship."
Prajna Khanna, Global Head of Sustainability at Prosus Group, highlighted the need for actionable support:
"Women in tech don't need more barriers—they need opportunities. The FoundHER Challenge is about taking action, backing women-led startups to scale, innovate, and lead."
Prosus's Commitment to Indian Startups
Prosus has a substantial presence in India, with nearly $9 billion invested across various sectors, including fintech, e-commerce, and food delivery. Their portfolio features prominent companies such as Swiggy, Meesho, Captain Fresh, and PharmEasy. The Tech FoundHER Challenge reflects Prosus's strategic move towards fostering innovation through a more inclusive investment approach.
Encubay's Role in Supporting Female Entrepreneurs
Encubay boasts a network of over 10,000 founders, investors, and corporate partners. The organization has facilitated the scaling of more than 7,500 startups through capital access, strategic partnerships, and global expansion programs. Avneet Kohli, Founder of Encubay, reiterated their commitment:
"Encubay’s global network of founders, investors, and corporates will play a key role in supporting participating startups. We are committed to creating an inclusive ecosystem where women thrive as leaders in tech."
Conclusion
The Tech FoundHER Challenge stands as a pivotal initiative aimed at empowering women entrepreneurs in India's tech industry. By providing equity-free funding, mentorship, and access to a robust network, Prosus, along with its partners, is taking concrete steps to bridge the gender funding gap and foster a more inclusive entrepreneurial ecosystem.