Karachi, 29 November, 2023: Standard Chartered Bank (SCBPL), in partnership with INNOVentures Global (Private) Limited, announced the winners of #SCWomenInTech Cohort 5, 2023. The WomeninTech program is designed to foster gender representation within technology-based entrepreneurship, with a special emphasis on promoting financial inclusion.

Launched in Pakistan during 2019, the WomenInTech programme aims to support gender representation within technology-based entrepreneurship. During the selection phase of this programme in 2023 a Cohort of twenty-five start-ups was selected, representing businesses in fourteen different business verticals. The participants got the opportunity to go through an extensive capacity-building programme complemented by a seed grant for the winners. Over the years, WomenInTech programme has awarded approximately PKR 30 million as grant money. Besides these declared grants awarded between the years 2019 to 2022, more than two start-ups have undisclosed investments raised through one successful acquisition exit.

As the ‘Application Phase’ of the WomenInTech 2023 was completed recently, there was a significant increase in the number of women founders showing interest, as more than 1700 applications for participation were received from more than 100 cities and towns. Almost 300 applications were selected for pitching before a screening jury. Finally, 50 applicants from 13 cities were invited to pitch, based on their eligibility criteria and the uniqueness of their start-ups.

The selected Cohort of 25 start-ups has undergone a 2.5 month capacity building programme, to learn business management skills and enhance their knowledge for accelerating their growth. These sessions were conducted by twelve subject matter experts, while the Cohort was also introduced to six leading local and international role models from the Industry and beyond. The founders were also matched, one-on-one, with 25 expert mentors, for advising them through the acceleration period on their proposed technology project.

Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Bank Pakistan stated, “I extend my heartfelt congratulations to the dynamic entrepreneurs selected for this year’s #WomenInTech programme. At Standard Chartered Bank, we believe that all these female entrepreneurs are playing a huge role in advancing the socio-economic growth of our nation while creating better employment and inclusion opportunities for masses. The bank is committed to promote financial inclusion and support sustainable growth on a global scale. To date, we have awarded more than PKR 30 Million as grants to further scale some of the most exciting ventures, reflecting our commitment to empower entrepreneurs and foster an inclusive and diverse tech ecosystem. We will continue to inspire young female entrepreneurs, enriching their potential and helping them attain professional skills to scale their businesses and impact on both, the local and global fronts.”

The programme aims to promote the economic and social development of women in Pakistan, through innovation or technology-led entrepreneurship. This year, the programme once again attracted the most diverse portfolio of entrepreneurs and founders till date, including Fem-Tech innovators, enhancing Health-Tech, Hygiene products, Fin-Tech, Air-Quality, Agri-Tech, Ed-Tech, etc., to achieve the United Nations’ Sustainable Development Goals, for ensuring good health and community wellbeing.

Details of winners are as follows:

Costa Coffee, the global coffeehouse giant, is elated to announce the opening of its third store in Pakistan, debuting in the vibrant capital city of Islamabad. In collaboration with its master franchisee, Gerry’s Group, a prominent player in Pakistan’s business landscape, Costa Coffee is extending its footprint to offer an unparalleled coffee experience to the diverse and dynamic community of Islamabad.

The inauguration and soft launch ceremony were graced by distinguished personalities, highlighting the significance of this milestone for Costa Coffee and its patrons. Mr Afzal Wali Muhammad, Group Chairman of Gerry’s Group, Mr Akram Wali Muhammad, Group Managing Director of Gerry’s Group, Mr Arshad Wali Muhammad, Group Director of Gerry’s Group and Ms Jane Marriott CMG OBE, the British High Commissioner to Pakistan, jointly unveiled the new store, signifying the brand’s commitment to fostering cultural exchanges and enhancing social connections through the love of coffee, and great food.

Mr. Afzal Wali Muhammad, Group Chairman of Gerry’s Group, expressed his enthusiasm, stating, “Costa Coffee has become synonymous with exceptional coffee moments globally, and we are delighted to bring this experience to the heart of Islamabad. This expansion aligns with our vision to elevate the coffee culture in Pakistan and create spaces where people can come together over a cup of their favourite brew and delectable treats.”

Mr. Akram Wali Muhammad, Group Managing Director of Gerry’s Group emphasizes, “Every store is a reflection of our shared vision for Costa Coffee in Pakistan. It is more than just a coffee destination; it’s spaces designed to inspire connections, create uplifting moments and celebrate the artistry behind the perfect cup of coffee. We are thankful for the overwhelming support and look forward to welcoming the people of Islamabad to experience the magic of Costa Coffee.”

The event showcased not only the aromatic delights that Costa Coffee is renowned for but also the brand’s dedication to creating inviting spaces for patrons to savour their coffee in a relaxed and welcoming ambience. The store in Islamabad reflects Costa Coffee’s signature aesthetic, blending contemporary design with a touch of warmth that invites customers to linger and enjoy the artistry behind every cup.

With a diverse menu offering an array of coffee blends, delectable treats, and refreshing beverages, the new store is poised to become a culinary and social hub in Islamabad. Costa Coffee invites residents and visitors alike to experience the perfect blend of tradition and innovation in every cup. The store is located at 13-E, Jinnah Supermarket, Opposite Union Gold Mall, F-7 Markaz, Islamabad, and will be open to the public on Thursday, November 30^th, 2023.

About Costa Coffee

Costa Coffee, established in 1971, is a global coffeehouse company celebrated for its commitment to crafting exceptional coffee experiences. With a rich heritage, Costa Coffee has become a beloved brand, offering quality coffee and creating memorable moments for patrons worldwide.

About Gerry’s Group

Gerry’s Group, a distinguished business conglomerate in Pakistan, is dedicated to driving innovation and excellence across various industries. Serving as the master franchisee of Costa Coffee in Pakistan, Gerry’s Group is instrumental in expanding the brand’s presence and influence in the country, and in the United Kingdom, with a current standing of 59 stores under its umbrella.