The programme consists of an annual funding competition and events that enable ambitious women to fully achieve their visions for their business, while championing and celebrating gender diversity throughout UK innovation.
In 2019, the UK Treasury commissioned an independent review of female entrepreneurship, which shed a light on the barriers faced by women starting and growing businesses. It was estimated that £250bn could be added to the UK economy if women in the UK matched men in starting and scaling businesses. In a 2022 progress report, research found that“over 140,000 all-female-founded companies were created last year, and this figure is growing by over a third each year… in total, over 20% of new firms are now led by women, a record high”.
To help encourage growth and scale of female-led businesses, Innovate UK KTN are offering up to 50 female entrepreneurs the opportunity to benefit from a bespoke business support package, including a cash injection of £50,000, tailored business coaching and mentoring from an Innovate UK EDGE Innovation and Growth Specialist, and a wide range of networking and training opportunities designed to help grow their innovation further.
Applications for the Women in Innovation Awards close on the 19th of October 2022. Successful applicants will undertake interviews on the 5th of December and award winners will be notified on the 21st of December.
For further information about the Women in Innovation Awards, click here.