With a record-breaking 2,018 applications from 116 countries, Nigeria takes the lead on the Aurora Tech Awards 2025 Longlist, featuring an impressive 21 female founders and reinforcing its status as a hub for innovation and entrepreneurship.
Brazil and the United States follow closely, with Egypt trailing just behind. Other key contributors include Colombia, Kenya, the United Kingdom, India, and Kazakhstan, showcasing the award’s truly global reach.
This year’s Aurora Tech Award not only highlights the exceptional talent from Nigeria but also emphasizes the country’s increasing influence in the tech and startup ecosystem, inspiring female founders both within Africa and globally.
Isabella Ghassemi-Smith, head of the Aurora Tech Awards, shared: “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. After a rigorous selection process, we’ve identified 120 remarkable women entrepreneurs who are leading bold, innovative businesses in emerging markets. These founders are shaping the future of their industries and countries, making them key players to watch in 2025.”
The initiative has also received increased support from venture capital firms, with VC partners rising from 23 to 35, and new partnerships established in Egypt, Brazil, and Pakistan, highlighting the growing global recognition of the award and its mission.
Healthtech, Agrotech, Edtech, and e-commerce dominated the nomination list, with most agrotech startups hailing from Africa. However, the renewable energy sector saw fewer nominations.
There is a notable global trend of increasing female participation in entrepreneurship. According to the Global Entrepreneurship Monitor (GEM), women’s startup activity rates have grown from 6.1% (2001-2005) to 10.4% (2021-2023) across 30 countries.
Research from WE-FI found that 17% of working-age women in developing economies are already entrepreneurs, with 35% aspiring to join them. Additionally, emerging economies received 17% of global Venture Capital investment in 2023, reflecting their resilience. In Africa, funding from venture capitalists surged from $1.3 billion in 2020 to $6.5 billion in 2022, according to the African Private Capital Association.
Female-led startups generate 78 cents of revenue per dollar of funding, compared to just 31 cents for male-led ventures, demonstrating the revenue efficiency of women entrepreneurs.
Women-owned businesses are driving economic development, breaking barriers, and inspiring future generations. Their long-term societal impact is undeniable. The list of top finalists will be announced in February 2025, with winners celebrated at a global ceremony later in the year.
The Aurora Tech Award celebrates the most ambitious and visionary female founders in emerging markets, offering more than just recognition. It provides access to invaluable expertise, resources, and opportunities to scale their businesses. Award applicants benefit from mentorship, fundraising and pitching guidance, pitch deck preparation support, and connection to investors, VC funds, and PR support, unlocking doors to crucial networks and resources that drive their success.