One of the biggest tech investors in the world, Prosus, launched the Tech FoundHER Challenge to help narrow the gender funding gap in India’s IT industry. The challenge offers $50,000 in equity-free funding to firms founded by women.
Launched in collaboration with VAIA Climate, an investment advice firm, and Encubay, a global network dedicated to equality in entrepreneurship, the program seeks to assist female founders in scaling, obtaining finance, and connecting with global networks.
Focus on bridging the equity gap
“Encubay was built to bridge the equity gap for women entrepreneurs,” said Deeksha Ahuja, Founder of Encubay. “This challenge aligns perfectly with our mission of empowering female founders with capital, networks, and mentorship.”
Having invested about $9 billion in fintech, e-commerce, and food delivery in India through companies like Swiggy, Meesho, Captain Fresh, and PharmEasy, Prosus views the challenge as a calculated step to spur innovation with a more inclusive investment strategy.
“Women in tech don’t need more barriers—they need opportunities,” said Prajna Khanna, Global Head of Sustainability at Prosus Group. “The FoundHER Challenge is about taking action, backing women-led startups to scale, innovate, and lead.”
Applications and timeline
Despite advancements, women are still disproportionately underrepresented in venture capital and technology investment. Research indicates that fewer than 5% of worldwide venture capital funding goes to women-led enterprises; the FoundHER Challenge aims to close this disparity.
Women-led IT companies are encouraged to apply by April 4, 2025. Six finalists will give in-person pitches on May 25, 2025, in Bangalore, after thirty startups have been shortlisted. $50,000 in non-dilutive cash will be given to the three winners to help them grow their companies.
In addition to funding, the challenge grants access to a select group of investors and business titans, such as Priyanka Chopra (CFO, Prosus Ventures), Ronak Sandil (Amazon Ventures), Apurva Dixit (Blume Ventures), Martin Tschopp (CEO, Prosus Ventures), Anjali Bansal (Avaana Capital), and Archana Jahagirdar (Rukam Capital).
With more than 10,000 entrepreneurs, investors, and business partners, Encubay is leading the challenge with Prosus. It asserts that through worldwide expansion initiatives, strategic alliances, and finance access, it has assisted more than 7,500 businesses in scaling.
“Encubay’s global network of founders, investors, and corporates will play a key role in supporting participating startups. We are committed to creating an inclusive ecosystem where women thrive as leaders in tech,” added Avneet Kohli, Founder of Encubay.
