Women in Innovation awards 2016: 15 female entrepreneurs honoured
Fifteen of the UK’s most innovative women were honoured at an awards ceremony at London’s Royal Society of Arts last week.
Innovate UK launched this nationwide competition in May 2016. The aim was to challenge the low numbers of women entrepreneurs in the UK.
Each winner receives £50,000 and a tailored business support package. They will also receive mentoring from Innovate UK’s list of well-known business leaders, who are also ambassadors for the infocus campaign. These include Facebook VP for Europe, the Middle East and Africa, Nicola Mendelsohn, Cambridge Wireless founder and former CEO, Soraya Jones, and Williams F1 Deputy Team Principal, Claire Williams.
Removing barriers for female entrepreneurs
The proportion of UK women in entrepreneurial activity is around half the level of men. Boosting female entrepreneurship could deliver approximately £180 billion to the UK economy.
Innovate UK’s infocus campaign is an umbrella initiative to encourage diversity in innovation. The competition aims to address an important barrier to female entrepreneurship – having limited access to relevant role models and identification with entrepreneurs as ‘women like me’.
Women are also less likely to seek external sources of finance than men. The campaign is a way of increasing awareness of how simple it is to apply for game-changing funding.
Dr Ruth McKernan CBE and Chief Executive of Innovate UK said:
“It is very clear that harnessing the talent of women entrepreneurs could significantly enhance UK economic growth. I am delighted that we are taking action; supporting and funding female entrepreneurs to help them succeed and inspire other women to come forward, apply for funding and turn their ideas into successful businesses.”