The Aurora Tech Award, an annual award celebrating the boldest and most ambitious female founders in emerging markets, has unveiled its Top 120 founders for 2025,[1] with Nigeria taking center stage. Out of a record-breaking 2,018 applications from 116 countries, Nigeria leads the Longlist with an impressive 21 founders, cementing its position as a hub for innovation and female entrepreneurship. Brazil and the United States follow, with Egypt close behind. Other notable contributors include Colombia, Kenya, the United Kingdom, India, and Kazakhstan, reflecting the award’s truly global impact.
This year’s Aurora Tech Award not only highlights the remarkable talent emerging from Nigeria but also underscores its growing influence in the tech and startup ecosystem, further inspiring female founders across the continent and beyond.
“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. Through a rigorous selection process, we’ve identified 120 standout women entrepreneurs who are building bold and innovative businesses in emerging markets. These founders are poised to shape the future of their industries and countries, making them the ones to watch in 2025”, said head of the Aurora Tech Awards Isabella Ghassemi-Smith.
The initiative also garnered increased support from venture capital firms, with the number of VC partners rising from 23 to 35 and new partners coming from Egypt, Brazil, and Pakistan, thus underscoring the growing global recognition of the award and its mission.
The four leading sectors that dominated the nomination list were Healthtech, Agrotech, Edtech and e-commerce. The majority of agrotech startups are from Africa while only a few startups made the nomination list from the renewable energy sector.
Over the years, there has been growing participation of women in entrepreneurship which marks a significant global trend. According to the Global Entrepreneurship Monitor (GEM), women’s startup activity rates rose from an average of 6.1% (2001-2005) to 10.4% (2021-2023) across 30 countries.
Research conducted by Research WE-FI revealed that 17% of working-age women in developing economies are already entrepreneurs, with 35% aspiring to join them. In 2023, emerging economies received 17% of global Venture Capital investment, underscoring their resilience. For instance, according to a report released by the African Private Capital Association, funding from Venture capitalists in Africa skyrocketed to $6.5 billion in 2022 (AVCA), from $1.3 billion in 2020.
In a similar development, a report released by BCG shows that female-led startups generate 78 cents of revenue per dollar of funding, compared to just 31 cents for male-led ventures, which is a further confirmation that women outperform their male-led counterparts in revenue efficiency.
It has been established at the local level that women-owned businesses fuel economic development and inspire future generations. Reports from ProMujer highlight the critical role female entrepreneurs play in strengthening communities and breaking barriers, reinforcing their long-term societal impact. Meanwhile, 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 boldest and most ambitious female founders in emerging markets, offering more than just recognition. It provides access to expertise, resources, and transformative opportunities to scale their businesses and shape the future. Award applicants gain mentorship, guidance on fundraising and pitching, support in preparing pitch decks, and validation of their efforts. They also connect with investors, VC funds, and PR support, opening doors to valuable networks and resources to drive their success.