On September 23, 2024, the Reliance Foundation announced a commitment of up to $10 million to the Women in Digital Economy Fund (WiDEF), a significant initiative aimed at closing the gender digital divide in India. This fund, which was originally introduced by U.S. Vice President Kamala Harris in March 2023, seeks to improve women's livelihoods and economic security through enhanced digital access and opportunities [e0308178].
The funding from Reliance Foundation will effectively double the resources available for WiDEF, which is a collaborative effort involving USAID and the Bill & Melinda Gates Foundation. Isha Ambani, Director of Reliance Foundation, emphasized the organization's commitment to fostering digital inclusion, stating that empowering women in the digital economy is crucial for achieving broader economic growth [e0308178].
Since its launch, WiDEF has successfully attracted over $1.01 billion in pledges from various global partners, showcasing a strong commitment to addressing gender disparities in the digital landscape [e0308178]. This initiative aligns with the G20 Leaders' commitment made in 2023 to halve the digital gender gap by 2030, further highlighting the global recognition of the importance of women's economic empowerment [e0308178].
The initiative builds on the WomenConnect Challenge India launched in 2020, which has already supported 600,000 women and selected 17 awardees for innovative solutions to empower women [e0308178]. In addition to the WiDEF initiative, the Women Exporters in the Digital Economy (WEIDE) Fund was launched by the World Trade Organization (WTO) and the International Trade Centre (ITC) on September 12, 2024. This fund aims to support women-led micro and small enterprises in international trade, with an initial contribution of $5 million from the UAE government. The WEIDE Fund will provide grants of up to $30,000 and technical assistance to selected business support organizations in developing countries, aiming to raise a total of $50 million [289494ae].
Moreover, the Japanese government has introduced the Beyond Japan program to stimulate startup investment and entrepreneurship, targeting the creation of 100 unicorns and 100,000 startups [47bec39b]. In the realm of health technology, Upstep, an Israeli startup specializing in custom orthotics, is seeking $5 million in funding to expand its operations, reflecting the growing interest in innovative solutions that support women's health [201f61c2].
The Scottish EDGE Awards recently recognized 35 high-potential businesses with a share of a £1.5 million prize pot, introducing new awards to foster innovation [45727890]. Meanwhile, Zest Canberra hosted the Women in Business Showcase, providing a platform for networking among women entrepreneurs [4adb09c6].
The Pivot organization is also making strides by organizing the 2024 Pivot Challenge in southeastern Nigeria, focusing on entrepreneurship in critical sectors like agriculture and technology [1be67e0f]. Lastly, a coalition of public and private sector investors has pledged $20 billion for women's economic empowerment over the next three years under the 2X Challenge, marking a significant commitment to mobilizing gender lens investments [d29f3644].