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Aurora Tech Award names Top 30 female-led startups across emerging markets

by Onome Amuge
January 22, 2026
in Technology
Aurora Tech Award names Top 30 female-led startups across emerging markets

Onome Amuge

The Aurora Tech Award, a global programme focused on supporting female technology founders in emerging markets, has unveiled its Top 30 finalists for 2026, highlighting where women-led innovation is gaining traction across the developing world, and where investors are beginning to pay closer attention.

Drawn from a pool of 3,400 applications spanning 127 countries, the Top 30 represents the final stage of a competitive process that began with a Top 100 shortlist. 

Latin America dominates the 2026 cohort, accounting for nearly half of the finalists. Startups from Colombia, Brazil, Chile, Mexico and Panama make up 46.7 per cent of the Top 30. Europe, the Middle East and Africa together account for 23.3 per cent, with founders drawn from Nigeria, Kenya, Tunisia, South Africa and Egypt, while the Commonwealth of Independent States contributes 10 per cent, represented by Kazakhstan. Asia-Pacific is also featured, with India the sole country represented, while the remaining 13.3 per cent comes from North America and Europe, including Ukraine.

The stage profile of the selected companies points to a deliberate focus on founders at the most capital-constrained point of the startup lifecycle. 16 of the Top 30 are at pre-seed stage, with the remaining 14 at seed stage.

Sectorally, artificial intelligence and fintech emerge as the strongest themes, with seven startups each. Fintech’s prominence is particularly notable in Latin America, where four of the seven shortlisted fintech companies are based, reflecting the region’s continued experimentation with financial inclusion, payments infrastructure and alternative credit models. HealthTech and MedTech account for six companies, while EdTech and enterprise software feature more selectively. A single startup represents each of several other sectors, including energy and sustainability, construction technology, agri-food technology, wellbeing, and longevity-focused life sciences.

Aurora’s organisers emphasise that the selection process is designed to go beyond symbolic recognition. Each year, companies are assessed through what the programme describes as a multi-layered evaluation model that combines internal performance benchmarks with independent reviews from a curated network of more than 40 venture capital partners across Latin America, the Middle East and North Africa, Africa and South Asia.

Unlike traditional awards that rely heavily on scoring frameworks, Aurora places particular weight on what it terms “investor conviction”. Startups are evaluated independently by multiple VC partners with direct experience in the relevant geography, sector and stage, using a structured assessment framework developed alongside experienced operators. Beyond numerical scores, investors are asked to indicate which founders they would actively want to engage with.

According to Isabella Ghassemi-Smith, head of the Aurora Tech Award, this approach is intended to tackle one of the most entrenched barriers facing female founders. “Aurora’s selection process is deliberately designed to address access to investors and capital,” she said. “By involving our global VC network directly in the evaluation process, founders are seen by relevant investors while they are being assessed, not after a list is published,” Ghassemi-Smith added.

That sequencing matters, she argues, because it creates early momentum on both sides of the funding conversation. By the time the Top 30 is announced, founders have already been exposed to investor scrutiny and interest, shortening what is often a protracted and opaque fundraising process.

Finalists receive up to $50,000 in non-dilutive capital, alongside structured support aimed at improving fundraising readiness, market positioning and strategic decision-making. 

The Aurora Tech Award is powered by inDrive, the global mobility and services platform, and positions itself less as a competition than as an intervention in early-stage capital markets. In an environment where female founders in emerging markets continue to attract a disproportionately small share of venture funding, programmes that combine capital with investor access are increasingly seen as a pragmatic response to structural gaps.

The Top 30 finalists will be formally announced in February 2026, with winners celebrated at a global ceremony later in the year. 

Onome Amuge

Onome Amuge serves as online editor of Business A.M, bringing over a decade of journalism experience as a content writer and business news reporter specialising in analytical and engaging reporting. You can reach him via Facebook ,X and  LinkedIn

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Methane rules spread across 67% of global production as Nigeria faces compliance test 

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October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

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