The Aurora Tech Award, a prestigious annual award celebrating innovative female founders in emerging markets, has unveiled its Top 120 founders for 2025.
Nigeria takes center stage, boasting an impressive 21 founders on the longlist. This achievement cements Nigeria’s position as a hub for innovation and female entrepreneurship.
A record-breaking 2,018 applications from 116 countries were submitted, with Brazil and the United States following closely behind Nigeria. Egypt also made a strong showing, while other notable contributors included Colombia, Kenya, the United Kingdom, India, and Kazakhstan. This global representation underscores the award’s far-reaching impact.
The Aurora Tech Award highlights Nigeria’s remarkable talent and growing influence in the tech and startup ecosystem.
This recognition inspires female founders across the continent and beyond.
According to Isabella Ghassemi-Smith, head of the Aurora Tech Awards, “The Aurora Top 120 is a first for us this year, created from a three-month open call that attracted over 2,000 applications from female founders. Through a rigorous selection process, we’ve identified 120 standout women entrepreneurs who are building bold and innovative businesses in emerging markets. These founders are poised to shape the future of their industries and countries, making them the ones to watch in 2025”.
The initiative has garnered increased support from venture capital firms, with 35 VC partners participating, up from 23 last year. New partners from Egypt, Brazil, and Pakistan have also joined, underscoring the award’s growing global recognition. The four leading sectors dominating the nomination list were Healthtech, Agrotech, Edtech, and e-commerce.
The growing participation of women in entrepreneurship marks a significant global trend. According to the Global Entrepreneurship Monitor (GEM), women’s startup activity rates rose from 6.1% (2001-2005) to 10.4% (2021-2023) across 30 countries. Research by Research WE-FI revealed that 17% of working-age women in developing economies are already entrepreneurs, with 35% aspiring to join them.
Emerging economies received 17% of global Venture Capital investment in 2023, underscoring their resilience. Funding from Venture capitalists in Africa skyrocketed to $6.5 billion in 2022, up from $1.3 billion in 2020. Female-led startups generate 78 cents of revenue per dollar of funding, compared to just 31 cents for male-led ventures.
Women-owned businesses fuel economic development, inspire future generations, and strengthen communities. The Aurora Tech Award celebrates the boldest and most ambitious female founders, offering recognition, access to expertise, resources, and transformative opportunities to scale their businesses.
Award applicants gain mentorship, guidance on fundraising and pitching, support in preparing pitch decks, and validation of their efforts. They also connect with investors, VC funds, and PR support, opening doors to valuable networks and resources.
The list of top finalists will be announced in February 2025, with winners celebrated at a global ceremony later in the year.
Read Also: Geeky Nigeria Wins 2024 .NG Best Online Media Website Award
