In collaboration with VAIA Climate, an investment advice firm, and Encubay, a global network dedicated to linking equality in entrepreneurship and investing, Prosus has introduced the Tech FoundHER Challenge.
Prosus claims that by giving women-led companies a platform to grow, obtain capital, and connect with international networks; this program seeks to close the funding gap in the Indian IT sector.
According to Encubay, its purpose was to close the equality gap for female entrepreneurs. Collaborating on projects such as the Prosus Tech FoundHER Challenge is consistent with its dedication to providing female entrepreneurs with mentorship, networks, and funding.
Global IT firm and investor Prosus has made approximately $9 billion in investments in India, supporting profitable companies in industries including fintech, food delivery, and e-commerce, including Swiggy, Meesho, Captain Fresh, and PharmEasy. The FoundHER Challenge's goal is in line with the company's emphasis on fostering innovation and assisting companies that have a social effect.
Market study indicates that women are still underrepresented in funding, innovation, and technology. Additionally, the study reveals a significant disparity: less than 5% of venture capital funding worldwide goes to women-led firms. By providing opportunities and catalytic money to female-led entrepreneurs in the Indian tech sector, the FoundHER Challenge is poised to change this.
Before April 4, 2025, women-led tech firms can submit. The prestigious panel will choose 30 shortlisted entrepreneurs based on their impact, scalability, and inventiveness. Three winners will get up to $50,000 in equity-free cash when the top six founders present their ideas in person on May 25, 2025, in Bangalore.
A distinguished group of investors and business executives, including Priyanka Chopra, Ronak Sandil, Apurva Dixit, Archana Jahagirdar, Avaana Capital's founding partner Anjali Bansal, and Martin Tschopp, CEO of Prosus Ventures, will hear the finalists' presentations of their startups.
With more than 10,000 participants, including founders, investors, corporations, and ecosystem partners, Encubay is a global business network. It tackles the main issues that early-stage founders confront. Building knowledge networks, enabling finance access, and generating chances for female entrepreneurs are the main goals of Encubay. In order to facilitate sustainability, innovation, and impact, it has been speeding growth for more than 7,500 founders and collaborating with companies such as HSBC, Google, AWS, and others.
