Prosus, one of the world’s leading technology investors, has launched the Tech FoundHER Challenge in India, offering $50,000 in equity-free funding to women-led startups. The initiative aims to reduce the gender funding gap in India’s tech sector and create more opportunities for female entrepreneurs. The program is a collaboration between Prosus, Encubay, a global network focused on entrepreneurship equity, and VAIA Climate, an investment advisory firm.
Empowering Women Entrepreneurs
The Tech FoundHER Challenge is designed to help female founders grow their businesses, secure funding, and connect with international networks. Deeksha Ahuja, Founder of Encubay, emphasized that the initiative aligns with their mission to bridge the equity gap for women entrepreneurs. The challenge provides not just financial support but also mentorship and access to business networks that can help startups scale.
Prosus has already invested nearly $9 billion in India across various sectors, including fintech, e-commerce, and food delivery, with well-known companies such as Swiggy, Meesho, Captain Fresh, and PharmEasy in its portfolio. With this initiative, Prosus aims to encourage innovation while promoting gender diversity in technology investments.
Removing Barriers for Women in Tech
Prajna Khanna, Global Head of Sustainability at Prosus Group, stated that women in the tech industry face numerous barriers and require more opportunities to succeed. The Tech FoundHER Challenge is a step towards empowering women-led startups, providing them with the resources to scale, innovate, and become industry leaders.
Women-led startups receive less than 5% of global venture capital funding, highlighting the need for initiatives like this. By providing equity-free funding, the challenge helps address this funding gap and supports female entrepreneurs in taking their businesses to the next level.
Application Process and Timeline
Women-led tech startups can apply for the challenge until April 4, 2025. After the application process, thirty startups will be shortlisted, and six finalists will have the opportunity to pitch their ideas in person on May 25, 2025, in Bangalore. Three winners will receive $50,000 each in non-dilutive capital to help accelerate their growth.
Beyond funding, the winners will gain access to an expert jury, including top investors and industry leaders such as Anjali Bansal (Avaana Capital), Archana Jahagirdar (Rukam Capital), Ronak Sandil (Amazon Ventures), Apurva Dixit (Blume Ventures), Martin Tschopp (CEO, Prosus Ventures), and Priyanka Chopra (CFO, Prosus Ventures).
What Encubay’s Role
Encubay plays a crucial role in supporting this initiative, leveraging its extensive network of over 10,000 founders, investors, and corporate partners. The organization has already helped over 7,500 startups scale through funding, strategic collaborations, and international expansion programs.
Avneet Kohli, Founder of Encubay, reaffirmed their commitment to fostering an inclusive environment where women entrepreneurs can thrive. She emphasized that the network’s resources would be instrumental in supporting startups that participate in the challenge.
