MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec 8, 2025--
The Aurora Tech Award, the only global award dedicated to supporting outstanding female tech founders from emerging markets, has unveiled its Top 100 Founders to watch for 2026. This year, a record 3,400 applications were submitted from 127 countries, reflecting unprecedented growth from last year’s 2,018 submissions across 116 nations.
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The Top 100 highlights the global breadth of women-led innovation, with the highest number of applications coming from Nigeria, Kazakhstan, Kenya, Colombia, Egypt, Brazil, India, Chile, Pakistan, and Mexico.
Key Sector Trends
Healthtech remains the strongest sector across the Top 13 countries represented. This year’s cohort includes 23 health-focused startups, continuing last year’s trend when healthtech also led the field. Founders are tackling many aspects of this sector, including wellbeing, longevity, digital medical tools, productivity platforms, life sciences, sports tech and more. Across these sectors, women founders consistently gravitate toward solving real, tangible problems rooted in their local communities, which strongly shapes the types of innovations emerging from each region.
Along with healthtech, agritech and edtech remain highly relevant, reflecting ongoing global demand and innovation in these sectors. AI continues its rapid expansion across these solutions, paired with blockchain and IoT technologies. In addition, this year saw a rise in fintech representation with 19 fintech startups included in the Top 100. This increase is partly due to the introduction of a dedicated fintech track in partnership with inDrive.Money, which drew high-quality founders developing solutions in financial inclusion, digital payments, lending, and broader fintech innovation across emerging markets.
HR tech applications were dominated by founders from Latin America, followed by Africa and MENA, while agritech entries primarily from Africa and LATAM remain focused on B2B business models. Edtech has also retained its relevance, with 18 startups demonstrating some of the highest adoption of AI-driven tools.
Across regions like Kenya, Nigeria, and South Africa, agritech and foodtech startups stand out, highlighting both agricultural innovation and growing demand for energy solutions essential for the sector’s development.
Global Patterns and Founder Insights
Across all top countries, AI consistently shows up as a core enabling technology within the leading sectors, highlighting its role as a universal driver of innovation.
Two notable insights from this year’s applications:
Business model trends show a strong lean toward B2B, especially in Chile (84%), India (79%), and Peru (69%), reflecting market maturity and demand for enterprise solutions.
The award’s open call also provides insight into how much capital early-stage founders are seeking across emerging markets. Startups from India are pursuing the highest average investment, at roughly $1.25 million, followed by those in Kenya at around $840,000 and Colombia at approximately $620,000. Founders in Egypt seek close to $540,000, while those in Nigeria are looking for about $510,000 in funding.
Several other countries show more moderate capital needs, generally under $500,000 —including Mexico (about $500,000 ), Brazil and South Africa (both just under $480,000 ), Pakistan (around $460,000 ), Chile (nearly $400,000 ), and Kazakhstan (around $380,000 ).
The least capital-seeking applicants come from Peru and Morocco, where founders are looking for approximately $300,000–$340,000 to grow their ventures.
“From more than 3,400 applications, our Top 100 represent the top three percent—truly exceptional founders. They’re building commercially powerful, category-defining companies that solve real problems their communities and markets face. We’re thrilled they chose to apply and proud to spotlight their impact,” said Isabella Ghassemi-Smith, Head of the Aurora Tech Award.
VC & Investor Network Reach
Aurora’s venture network now spans four major regions — LATAM, MENA, Africa, and South Asia. Together, these regions represent roughly 70% of the world’s emerging-market innovation hubs, demonstrating both the global investor appetite for the new wave of female founders and Aurora’s growing ability to unlock downstream capital by aligning the right startups with the right investors.
The Aurora Tech Award empowers the most ambitious female founders in emerging markets with more than recognition. Winners receive up to US$50,000 in non-dilutive funding, tailored support and resources, and access to an industry-leading network of investors and experts. They also gain global visibility and media exposure, helping to amplify their business impact and scale solutions that shape the future.
Last year’s Aurora Tech Award ceremony in Cairo celebrated the achievements of exceptional female founders from emerging markets. The 2025 winners were Solape Akinpelu (HerVest, Nigeria) in first place, Loretxu Garcia Arraztoa (Nido Contech, Chile) in second, Shreya Prakash (FlexiBees, India) in third, and Laura Velásquez Herrera (Arkangel AI, Colombia) and Leonie Korn (UpLeap, Switzerland) in fourth and fifth places respectively.
The number of top finalists is set to be announced in February 2026, with the winners being celebrated at a global ceremony later in the year.
More info on this year’s Aurora Top 100 List is available here.
About the Project
The Aurora Tech Award, powered by inDrive, backs the boldest female tech founders in emerging markets. It’s more than recognition, it’s a launchpad. Aurora combines non-dilutive capital with direct access to investors, operators, and a global network, giving founders the connections and momentum to scale faster and go further. This isn’t a competition; it’s a catalyst for the women building the next category-defining companies.
inDrive is a global mobility and urban services platform. The inDrive app has been downloaded over 360 million times, and has been named the second most downloaded mobility app for the third consecutive year. In addition to ride-hailing, inDrive provides an expanding list of services, including intercity transportation, delivery, and financial services. In 2023, inDrive launched New Ventures, a venture and M&A arm.
inDrive operates in 982 cities across 48 countries. Driven by its mission of challenging injustice, the company is committed to having a positive impact on the lives of one billion people by 2030. It pursues this goal both through its core business, which supports local communities via a fair pricing model; and through the work of its impact programs. For more information, visitwww.inDrive.com.
Aurora Tech Award Announces Top 100 Female Founders
HOMS, Syria (AP) — A year ago, Mohammad Marwan found himself stumbling, barefoot and dazed, out of Syria’s notorious Saydnaya prison on the outskirts of Damascus as rebel forces pushing toward the capital threw open its doors to release the prisoners.
Arrested in 2018 for fleeing compulsory military service, the father of three had cycled through four other lockups before landing in Saydnaya, a sprawling complex just north of Damascus that became synonymous with some of the worst atrocities committed under the rule of now-ousted President Bashar Assad.
He recalled guards waiting to welcome new prisoners with a gauntlet of beatings and electric shocks. “They said, ‘You have no rights here, and we’re not calling an ambulance unless we have a dead body,’” Marwan said.
His Dec. 8, 2024, homecoming to a house full of relatives and friends in his village in Homs province was joyful.
But in the year since then, he has struggled to overcome the physical and psychological effects of his six-year imprisonment. He suffered from chest pain and difficulty breathing that turned out to be the result of tuberculosis. He was beset by crippling anxiety and difficulty sleeping.
He’s now undergoing treatment for tuberculosis and attending therapy sessions at a center in Homs focused on rehabilitating former prisoners, and Marwan said his physical and mental situations have gradually improved.
“We were in something like a state of death” in Saydnaya, he said. “Now we’ve come back to life.”
On Monday, thousands of Syrians took to the streets to celebrate the anniversary of Assad's fall.
Like Marwan, the country is struggling to heal a year after the Assad dynasty’s repressive 50-year reign came to an end following 14 years of civil war that left an estimated half a million people dead, millions more displaced, and the country battered and divided.
Assad's downfall came as a shock, even to the insurgents who unseated him. In late November 2024, groups in the country’s northwest — led by Hayat Tahrir al-Sham, an Islamist rebel group whose then-leader, Ahmad al-Sharaa, is now the country’s interim president — launched an offensive on the city of Aleppo, aiming to take it back from Assad’s forces.
They were startled when the Syrian army collapsed with little resistance, first in Aleppo, then the key cities of Hama and Homs, leaving the road to Damascus open. Meanwhile, insurgent groups in the country’s south mobilized to make their own push toward the capital.
The rebels took Damascus on Dec. 8 while Assad was whisked away by Russian forces and remains in exile in Moscow. But Russia, a longtime Assad ally, did not intervene militarily to defend him and has since established ties with the country's new rulers and maintained its bases on the Syrian coast.
Hassan Abdul Ghani, spokesperson for Syrian Ministry of Defense, said HTS and its allies had launched a major organizational overhaul after Assad’s forces regained control of a number of formerly rebel-controlled areas in 2019 and 2020.
The rebel offensive in November 2024 was not initially aimed at seizing Damascus but was meant to preempt an expected major offensive by Assad’s forces in opposition-held Idlib intending to “finish the Idlib file,” Abdul Ghani said.
Launching an attack on Aleppo “was a military solution to expand the radius of the battle and thus safeguard the liberated interior areas," he said.
In timing the attack, the insurgents also took advantage of the fact that Russia was distracted by its war in Ukraine and that the Iran-backed Lebanese militant group Hezbollah, another Assad ally, was licking its wounds after a damaging war with Israel.
When the Syrian army’s defenses collapsed, the rebels pressed on, “taking advantage of every golden opportunity,” Abdul Ghani said.
Since his sudden ascent to power, al-Sharaa has launched a diplomatic charm offensive, building ties with Western and Arab countries that shunned Assad and that once considered al-Sharaa a terrorist.
In November, he became the first Syrian president since the country’s independence in 1946 to visit Washington.
But the diplomatic successes have been offset by outbreaks of sectarian violence in which hundreds of civilians from the Alawite and Druze minorities were killed by pro-government Sunni fighters. Local Druze groups have now set up their own de facto government and military in the southern Sweida province.
There are ongoing tensions between the new government in Damascus and Kurdish-led forces controlling the country’s northeast, despite an agreement inked in March that was supposed to lead to a merger of their forces.
Israel is wary of Syria's new Islamist-led government even though al-Sharaa has said he wants no conflict with the country. Israel has seized a formerly U.N.-patrolled buffer zone in southern Syria and launched regular airstrikes and incursions since Assad’s fall. Negotiations for a security agreement have stalled.
Remnants of the civil war are everywhere. The Mines Advisory Group reported Monday that at least 590 people have been killed by landmines in Syria since Assad’s fall, including 167 children, putting the country on track to record the world’s highest landmine casualty rate in 2025.
Meanwhile, the economy has remained sluggish, despite the lifting of most Western sanctions. While Gulf countries have promised to invest in reconstruction projects, little has materialized on the ground. The World Bank estimates that rebuilding the country’s war-damaged areas will cost $216 billion.
The rebuilding that has taken place has largely been individual owners paying to fix their own damaged houses and businesses.
On the outskirts of Damascus, the once-vibrant Yarmouk Palestinian camp today largely resembles a moonscape. Taken over by a series of militant groups then bombarded by government planes, the camp was all but abandoned after 2018.
Since Assad’s fall, a steady stream of former residents have come back.
The most damaged areas remain largely deserted but on the main street leading into the camp, bit by bit, blasted-out walls have been replaced in the buildings that remain structurally sound. Shops have reopened and families have come back to their apartments. But any larger reconstruction initiative appears to still be far off.
“It’s been a year since the regime fell. I would hope they could remove the old destroyed houses and build towers,” said Maher al-Homsi, who is fixing his damaged home to move back, although the area doesn't even have a water connection.
His neighbor, Etab al-Hawari, was willing to cut the new authorities some slack.
“They inherited an empty country — the banks are empty, the infrastructure was robbed, the homes were robbed," she said.
Bassam Dimashqi, a dentist from Damascus, said of the country after Assad’s fall, “Of course it’s better, there’s freedom of some sort.”
But he remains anxious about the precarious security situation and its economic impacts.
“The job of the state is to impose security, and once you impose security, everything else will come," he said. "The security situation is what encourages investors to come and do projects.”
The U.N refugee agency reports that more than 1 million refugees and nearly 2 million internally displaced Syrians have returned to their homes since Assad’s fall. But without jobs and reconstruction, some will leave again.
Among them is Marwan, the former prisoner, who says the post-Assad situation in Syria is “far better” than before. But he is struggling economically.
Sometimes he picks up labor that pays only 50,000 or 60,000 Syrian pounds daily, the equivalent of about $5.
Once he finishes his tuberculosis treatment, he said, he plans to leave to Lebanon in search of better-paid work.
Sewell reported from Beirut. Associated Press journalist Omar Albam in Damascus contributed to this report.
FILE - A man breaks the lock of a cell in the infamous Saydnaya military prison, just north of Damascus, Syria, Monday, Dec. 9, 2024. (AP Photo/Hussein Malla, File)
Former detainee Mohammad Marwan walks down a street on his way to the Homs Recovery Center in the village of Tell Dahab in the Homs countryside, Syria, Tuesday, Dec. 2, 2025. (AP Photo/Ghaith Alsayed)
A girl sits on a machine gun as visitors tour the "Syrian Revolution Military Exhibition," which opened last week ahead of the first anniversary of the ousting of the Bashar Assad regime in Damascus, Syria, Sunday, Dec. 7, 2025. (AP Photo/Ghaith Alsayed)
A boy checks out military equipment as visitors tour the "Syrian Revolution Military Exhibition," which opened last week ahead of the first anniversary of the ousting of the Bashar Assad regime in Damascus, Syria, Sunday, Dec. 7, 2025. (AP Photo/Ghaith Alsayed)
A Syrian man silhouetted by a digital billboard showing the date of the ousting of the Bashar Assad regime during celebrations marking the first anniversary, in Damascus , Syria, Sunday, Dec. 7, 2025. The Arabic words read: "A history retold and a bond renewed." (AP Photo/Hussein Malla)
Wanted portraits of former Syrian president Bashar Assad are displayed in the window of a coffeeshop, in Damascus Sunday, Dec. 7, 2025, as Syrians celebrate marking the first anniversary of the ousting of the Bashar Assad regime. (AP Photo/Hussein Malla)
Syrian men wearing anonymous masks flash victory signs, as they stand on top of their car with its front window covered by an Islamic flag, during celebrations marking the first anniversary of the ousting of the Bashar Assad regime in Damascus, Sunday, Dec. 7, 2025. (AP Photo/Hussein Malla)