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Taiwan Ranks No.1 in Asia for Women Entrepreneurs: Standard Chartered's Empowering Entrepreneurs Program Kicks Off
Just before International Women's Day, an event took place to empower women entrepreneurs in Taiwan. The Future Makers by Standard Chartered initiative, in partnership with the Korean Foundation and Hard Poke, launched the third edition of the Women Entrepreneur Award. This initiative continues its focus on supporting female entrepreneurship and fostering an inclusive future.
The theme for this year's event is "For all women and girls, rise equality and empowerment." This marks a key moment in Taiwan's commitment to advancing women entrepreneurs by boosting financial support and resources for women-led businesses.
"Through this program, we not only provide essential courses and consulting services but also increase the total prize pool to NT$2 million (approximately USD 65,000) this year, aiming to further support women entrepreneurs," said Vivian Hung, Standard Chartered International Commercial Bank Chief.
A Key Support for Women Entrepreneurs
The Women Entrepreneur Award program has evolved significantly over the years. This year, the prize pool was boosted, and the program introduced new features such as leadership co-learning sessions and mentor-based guidance. "We aim to empower women entrepreneurs, not just with financial resources, but also with critical leadership and networking opportunities," Vivian Hung continued.
To date, the initiative has supported over 60 women-led businesses, encouraging innovation and diversity within the entrepreneurial ecosystem. The event highlighted the importance of women-led startups, with a special focus on how businesses can drive both economic growth and social inclusion.
The event also showcased the collaborative efforts between the public and private sectors in supporting women entrepreneurs. Chun-An Chen, Director of the Taipei City Industrial Development Bureau, shared insights into the evolving landscape of female entrepreneurship in Taiwan. "In a recent Mastercard survey, Taiwan ranked sixth in the world for female entrepreneurship, with the highest in Asia. This speaks volumes about the nurturing environment we offer women entrepreneurs," Chun-An Chen.
Taipei City, a key hub for Taiwan's startup ecosystem, has played a crucial role in supporting female entrepreneurs through various government initiatives. Chen emphasized the need for a gender-equal entrepreneurial platform and shared that one-third of Taiwan's small businesses are led by women, highlighting their resilience and innovation.
"Women's businesses are often more detail-oriented and sensitive to consumer needs," Chun-An Che noted. "These qualities make women entrepreneurs crucial to the growth of many industries." He further explained that Taipei City has been actively working to increase funding, provide specialized courses, and create networks for women in business.
Expanding Opportunities for Women in Business
The event also underscored the significant role of mentorship in developing women entrepreneurs. Standard Chartered has been playing a leading role by providing not only financial backing but also mentoring support. Employees of the bank serve as one-on-one mentors to participants, helping them navigate the challenges of running a business and expand their professional networks.
Vivian remarked, "This award not only provides funding and professional guidance but also invites our employees to mentor and share their expertise with female entrepreneurs. It’s a holistic approach that we believe can truly make a difference."
In addition to funding, the program promotes social inclusion and economic collaboration, encouraging entrepreneurs to create inclusive workplaces and contribute to social well-being. This year, the program introduced a diversity and inclusion criterion as part of the evaluation process, rewarding businesses that create opportunities for marginalized groups.
Empowering Women Entrepreneurs for Global Success
Looking ahead, the aim is to keep supporting women entrepreneurs while helping them expand their global reach. By utilizing available resources, participants are better prepared to grow their businesses internationally. As Vivian shared, "Our goal is to help these entrepreneurs not just grow their businesses but also develop a global perspective to succeed worldwide."
Vivian Hung concluded with, "We appreciate everyone's support and dedication to this cause. Together, we can work toward greater equality and empowerment for all women."
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