Women in Innovation Awards 2018 open for applications
Innovate UK, as part of UK Research and Innovation, have launched the Women in Innovation Awards 2018 looking for female founders who are rising stars in business innovation. Offering 8 women a £50,000 grant and a bespoke package of mentoring, coaching and business support, Innovate UK hope to inspire the a generation of female founders who can make a significant contribution to one of the Industrial Strategy Grand Challenges of artificial intelligence and data; ageing society; clean growth and the future of mobility. The awards are for female founders, co-founders or senior decision makers working in companies that have been operating for at least one year.
The competition, which opens on 30th July 2018 and closes on 3rd October 2018 is split into 2 phases. In phase 1 the written application will be assessed by independent experts. In phase 2 the shortlisted applicants will be interviewed by a panel of experts.
The funding will be paid in 3 increments:
- 20% (£10,000) upfront
- 60% (£30,000) at the mid-point
- 20% (£10,000) at the end
In addition to the grant funding, all award holders will receive a package of support tailored to their needs.
The expert advice available includes:
- funding and finance options and how to access these, including introductions to investors and training on pitching
- media and communications, such as branding
- intellectual property
- developing new business models
- evaluating market opportunities
- finding new partners
- business growth and scale up
- developing international collaborations and accessing global markets
- business planning strategy
Access to relevant world-leading facilities and equipment will be also be provided where this is appropriate.
The package of support will be delivered by:
- a group of senior business mentors from each Industrial Strategy Grand Challenge area
- the Knowledge Transfer Network
- the Enterprise Europe Network
- the Catapults
De minimis aid
The grant funding will be made to the business as a de minimis grant.
De minimis aid is used to describe small amounts of state aid that do not require European Commission approval. The European Commission considers that public funding which complies with the de minimis regulation has a negligible impact on trade and competition, and does not require notification and approval.
The total de minimis aid which can be given to a single recipient is €200,000 over a 3-year fiscal period. This can be given for most purposes, including operating aid, and is not project-related. Further information is available on page 20 of the state aid manual.
Role model work
Award holders will be required to work as a role model for at least 5 days over the one year duration of the award. This is likely to generate interest in their stories and businesses.
Each award will provide £50,000 of funding. Awards must start by 1 April 2019 and will last for one year.
About Innovate UK
Innovate UK’s Women in Innovation campaign was launched on 1 June 2016 to address the under-representation of women engaging with Innovate UK and to boost the economy as a result. The overall aim was to get more women with excellent ideas innovating in UK businesses. Women in Innovation is part of our commitment to promote greater diversity and inclusion in business innovation.
