£50,000 awards available for women innovators
The Hub News Team | 20.3.20
Innovative women from across the Marches are being urged to apply for a new scheme which could give them £50,000 to help boost their business.
Innovate UK has announced a new wave of Women in Innovation Awards to find and support the UK's most promising female innovators to develop their ideas and scale up their businesses.
Up to 10 women will secure £50,000 each as well as a bespoke programme of coaching, mentoring and innovation growth support. The priority will be engaging women innovators across the whole of the UK.
The Women in Innovation programme was first launched in 2016 and since then the number of women leading applications for grants to Innovate UK has increased by 70%.
The new awards were announced by the UK's first dedicated female Science Minister Amanda Solloway.
The Alison Rose Review of Female Entrepreneurship estimated that an additional £250 billion could be contributed to the UK economy if female entrepreneurs started and scaled their businesses at the same rate as men.
Ian Campbell, Interim Executive Chair, Innovate UK, said: "Diversity in businesses is a proven driver of economic growth. Through our focused campaigns we have shown how Innovate UK's support has enabled winners to embrace innovation, expand and refine global product ranges, and continue to grow and develop their own diverse teams."
Innovate UK has also formed a new partnership with Founders4Schools to highlight the importance of women-led businesses engaging with schools to inspire future innovators.
Sherry Coutu CBE, Founder and Chair of Founders4Schools, said: "By connecting these inspirational women with their local schools, we can raise the aspirations of the innovators of tomorrow and build a talent pipeline for the future."
Since 2016 Innovate UK has engaged a new community of over 3000 women in innovation.