Aurora Tech Award 2025: Expanding Support for Women Innovators in Tech
inDrive has officially opened applications for the Aurora Tech Award 2025, an initiative under its inVision programme. The award is dedicated to recognising and supporting women founders of IT startups across the globe. Women entrepreneurs in Malaysia’s technology industry are encouraged to apply from today until 21 November 2024.
As Malaysia’s tech ecosystem continues to experience exponential growth, the country’s digital economy is projected to contribute 25.5% of the GDP by 2025, spurred by advancements in cloud computing, data analytics, and artificial intelligence (AI). Malaysia’s startup ecosystem has been ranked 36th globally, with key hubs like Kuala Lumpur emerging as centres for fintech, e-commerce, and digital health innovations. Over 3,000 startups call Malaysia home, supported by a vibrant network of accelerators, incubators, and investors.
Despite these successes, women remain underrepresented in leadership roles in the tech sector. inDrive’s 2024 research into women in technology in Malaysia reveals that only 5 percent of tech entrepreneurs are women. A significant barrier identified is the lack of effective information channels about STEM careers and the perception of a male-dominated industry. Many women also reported high pressure and competition within the tech workforce.
Nevertheless, Malaysian women are defying stereotypes, with studies showing that women students and employees in technology companies choose their paths based on pragmatic reasons rather than being influenced by gender. With the rise of women-led innovation, providing resources, mentorship, and exposure is crucial for ensuring their success.
The Aurora Tech Award 2025 introduces several updates to provide greater resources and opportunities for women entrepreneurs worldwide:
Increased Prize Fund: In recognition of the vital role women play in the tech industry, the prize fund has been significantly increased. The new prize distribution is as follows:
1st Prize: $30,000
2nd Prize: $20,000
3rd Prize: $15,000
4th Prize: $10,000
5th Prize: $10,000
Refined Evaluation Process: The application process now includes three stages of assessment: longlist, midlist, and shortlist. After an initial evaluation by venture fund analysts, 100 participants will be selected for a pitching session. Fifteen of these will advance to the final shortlist.
Expanded Mentoring Opportunities: Shortlisted participants will benefit from an enhanced mentoring program offering sessions with leading industry experts. This mentorship will span 2 to 2.5 months and will provide critical insights and guidance to help participants refine their projects and implement strategic changes.
Asya Vildt, Operations Excellence and Sustainability Director at inDrive, explains the company’s commitment to women’s empowerment: “Supporting women in tech isn’t just about levelling the playing field; it’s about unlocking the full potential of innovation. Women entrepreneurs bring fresh perspectives essential for addressing today’s complex challenges. At inDrive, we are dedicated to creating opportunities that empower women to lead in technology, as their success drives positive change across industries and communities. The Aurora Tech Award reflects our belief in the power of diverse leadership to shape a better, more sustainable future.”
Shaerine Irwina Kaur, Communications Manager SEA at inDrive said: “The tech industry in Malaysia holds immense potential for growth, especially with the rapid advancements in digital innovation across multiple sectors. Women founders, in particular, are poised to lead in driving impactful and transformative solutions. We see tremendous opportunities for them to bring fresh perspectives, harness cutting-edge technologies, and disrupt traditional industries.
Supporting women entrepreneurs through initiatives like the Aurora Tech Award is crucial not only in addressing the gender gap but also in empowering them to scale their ventures and inspire the next generation of innovators. By doing so, we are building a more inclusive, dynamic, and competitive ecosystem that benefits everyone, encouraging the long-term sustainability and diversity of Malaysia’s tech landscape.”
Women entrepreneurs are encouraged to submit their applications at www.auroratechaward.com. Important details of the award as below:
Eligibility Criteria
Women entrepreneurs who meet the following criteria are encouraged to apply:
Leadership: The startup must be founded or co-founded and led by a woman.
Funding: The startup should not have received more than $4 million in funding, including the seed round.
Age of Startup: The startup must be no older than 5 years.
Minimum Viable Product: A functional prototype is required; idea-stage projects are not eligible.
Key Dates
Application Period: 2 September – 21 November 2024
Finalist Announcement: Spring 2025, between March and May
Winners Announced: Spring 2025
