Women with exciting, innovative ideas who will inspire others can apply for an award which includes a £50,000 grant and bespoke business support.

Innovate UK, as part of UK Research and Innovation, is offering up to 50 Women in Innovation Awards to women entrepreneurs across the UK. The winners will receive a £50,000 grant and a bespoke package of mentoring, coaching and business support.

The aim of this competition is to find women with exciting, innovative ideas and ambitious plans that will inspire others. The awards are for women founders, co-founders or senior decision makers working in businesses that have been operating for at least one year.

Applicants must be confident, with the support of an award, that they can make a significant contribution to a pressing societal, environmental or economic challenge through their innovative project.

The competition is split into 2 phases. In the application phase 1, the awards will be assessed by independent experts. In the interview phase 2, the shortlisted applicants will be interviewed by a panel of experts.

Your award must:

• have a total grant funding request of £50,000
• start on 1 April 2023
• end on 31 March 2024
• last for 12 months

To be eligible for an award you must:

• be a woman founder, co-founder or senior decision maker within a UK registered micro, small or medium (SME) business which has been operating for at least 12 months by the competition closing date
• be resident in the UK
• carry out your project work in the UK
• intend to exploit the results from or in the UK
• be legally and contractually able to use the funding
• be available to attend an online interview panel during the weeks beginning 5 December and 12 December 2022
• attend 2 bootcamps on the week commencing 20 March 2023 and in September 2023.
• be fully committed to volunteer as a role model for up to 5 days over the duration of the award

Applications from UK-registered social enterprises operating economically will be eligible if they meet all other criteria.

Innovate UK has allocated up to £2.5 million for up to 50 awards at £50,000 each. We will also provide a bespoke package of mentoring, coaching and business support.

The funding will be paid in 3 increments:

• £33,333 upfront in April 2023
• £11,667 at the mid-point in October 2023
• £5,000 at the end of your project on receipt of a completed statement of expenditure by April 2024

The aim of this competition is to fund and support a diverse portfolio of Women in Innovation Award winners:

• who will be relatable role models for women from all backgrounds
• from regions across the UK
• who are solving a range of pressing societal, environmental and economic challenges
• in a variety of innovation areas

Your proposal must identify clearly evidenced pressing societal, environmental or economic challenges, and how your project and innovation can help solve them.

Applications can come from any area of innovation (where innovation is defined as the commercially successful exploitation of ideas) and be applied to any part of the economy.

We plan to offer up to 50 awards.

We want to support women who are at a critical stage with their business, where an award will enable them to take an important step forward. The funding should help you make a real difference to innovation in the UK including in and beyond your sector or innovation area.

You should be someone who will be an inspiration to others.

We are looking for women who clearly explain how they will benefit from the full package of funding and support on offer and who can describe how this will add value to them and their business.

We are particularly encouraging applications from women who:

• have the potential, capability, experience and personal drive to become leaders in business innovation
• want to be a role model for others, including in their region, sector and to young people
• have a clear vision for their business
• are looking to develop a game changing novel idea or business innovation
• know what they are hoping to achieve from the award and how to measure success

As part of your application, you must include a short video, up to 3 minutes long, to describe or show the problem you are looking to solve and the difference that an award will make to you personally.

You must use Innovate UK ‘Women In Innovation’ Video platform (link will be available when competition opens) to record your video and then provide a link in your application. If we are unable to view your video, your application will be made ineligible.

We want to fund a variety of projects across geographical areas.

Innovate UK KTN held an online briefing event on Thursday 18th August, 10am-12:30pm: click here to watch the recording.

Find out more and apply here 

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