Futuremakers and Mereka launch Women in Entrepreneurship Program

In a significant move towards bolstering female entrepreneurship in Malaysia, Futuremakers by Standard Chartered and Mereka Innovative Education (Mereka) have introduced the Women in Entrepreneurship (WiE) Programme. This initiative aims to equip local women-led organizations with the essential business acumen required to thrive in today’s competitive business landscape.

The official inauguration of the Women in Entrepreneurship Programme took place on Monday, September 11, 2023, at Mereka Space, Publika Shopping Gallery, Kuala Lumpur. The ceremony was graced by the presence of Mdm. Noor Afifah binti Abdul Razak, Deputy Secretary General (Policy and Monitoring) of the Ministry of Entrepreneur and Cooperatives Development (MECD).

The WiE Programme is open to women-led organizations based in Malaysia that have developed a minimum viable product (MVP) and possess a clear business model. The program comprises a series of webinars and pitching sessions, featuring a highly competitive selection process that will shortlist only 20 teams to participate in the intensive bootcamp.

Seed funding and mentorship

In a bid to provide further support, the top five winning teams selected through the WiE Programme will have the opportunity to receive seed funding from a pool of USD 100,000. Additionally, these teams will embark on a six-month dedicated mentorship program, receiving guidance and support from experienced mentors within the entrepreneurship field.

Mohd Suhaimi Abdul Hamid, Chief Executive Officer of Standard Chartered Saadiq Malaysia, expressed his enthusiasm for the program, stating, “We believe that women entrepreneurs have enormous potential to drive economic growth and innovation in Malaysia. Through this program, we want to provide them with the necessary tools, resources, and guidance to build successful and sustainable businesses. We are hopeful that our current partnership with Mereka will drive more opportunities for women entrepreneurs as they look for growth beyond the COVID-19 period, where more than 176,000 entrepreneurs nationwide were forced to close their businesses.”

Closing the gender gap in entrepreneurship

Juliana Adam, Director of Mereka and Chief Executive Officer of Biji-biji Initiative, highlighted the specific challenges women entrepreneurs face, noting, “Women entrepreneurs face unique challenges in accessing support and funding for their businesses. WiE addresses these obstacles by providing essential resources and mentorship.” Her perspective underscores the importance of narrowing the gender gap in entrepreneurship through tailored support for women-led ventures.

Furthermore, she emphasized the societal impact of empowering women entrepreneurs, stating, “Supporting women-led businesses can unlock their potential, drive positive change, and boost economic growth across Malaysia. Empowering women entrepreneurs helps close the gender gap in entrepreneurship and promotes gender equality.”

Applications for the Women in Entrepreneurship (WiE) Programme are now open, and interested teams can apply via the official website at https://wie.mereka.my/.