Standard Chartered Awards Rs10.5 Million in Equity-Free Grants to Three Female Founders in Pakistan
Funding Female Founders
On September 23, 2026, the Standard Chartered Foundation awarded Rs10.5 million in pure grants to three women-led startups at a graduation event in Karachi. The awards conclude the eighth cohort of the Women in Tech Accelerator, a program that reliably supplies early cash to female founders in Pakistan.
The accelerator distributed the funds across three businesses operating in distinct industries, proving female founders are building outside narrow niches.
- EV Square: Founder Aimen Shafique secured first place and Rs5 million for her electric vehicle company, addressing Pakistan's growing urban transport demands.
- Blusha App: Founder Minahil Zafar took second place and Rs3 million for her consumer technology platform.
- Zvolta: Founder Anusha Shahid claimed third place and Rs2.5 million for her tech-enabled business.
Building Without Giving Up Shares
Unlike traditional early-stage investments that require founders to trade company shares for cash or take on debt, this program hands out pure grants. Founders keep full control of their companies.
In emerging markets where female entrepreneurs capture less than 3 percent of total venture capital, this direct financial support allows women to build their products without immediate pressure from outside shareholders. Organizers also pair the funding with six months of financial oversight and lifelong membership in an alumni network, ensuring founders have the guidance to spend the money effectively.
"When founders don't have to worry about paying back a loan or answering to new shareholders on day one, they can actually focus on making their product work. A cash grant of this size buys them the time they need to prove their business model in a very tough economy."
The Selection Pipeline
The organizers started the program with 30 founders attending a six-day bootcamp. From there, they selected 10 entrepreneurs for three months of business mentorship. Only three reached the final funding stage, meaning the winners had to demonstrate clear business growth and traction.
INNOVentures Global manages the program in Pakistan, while Village Capital handles the international strategy, connecting local founders with a broader network of peers and funders across 12 countries.
Eight Years of Direct Support
Over eight years in Pakistan, the initiative has mentored more than 200 women-led businesses and disbursed over $425,000. In a market where early-stage founders struggle to secure bank loans or angel investments, a grant of Rs5 million often determines whether a business shuts down or scales its operations.
Globally, the Standard Chartered Foundation runs this program across Africa, the Middle East, and Pakistan. The initiative aims to back 400 women across 12 countries, distribute over $1.9 million in grants, and support 1,200 jobs. Last year, 71 participating businesses generated more than $2 million in combined additional revenue, proving that pure grants yield measurable financial returns.
By consistently funding women-led startups through recent economic downturns, the foundation signals to other local and foreign investors that these businesses warrant serious attention.