Women entrepreneurs need business funding just as much as other entrepreneurs. This could be in the form of investments, loans, grants, or other forms of support.
The good news is that record numbers of women are starting businesses. The 2022 Rose Review showed that there will be 145,200 women-led companies in 2021, up from 56,200 in 2018. That’s a 37.3% year-on-year growth.
The bad news is that all-female-led companies haven’t received much funding yet. UK VC & Female Founders ReportCommissioned in 2017 . Meanwhile, the all-male founder team won 89 pence. Even in 2022, All-women-founded companies raised 9% of equity fundingThat said, it’s a 6% increase from the previous year.
That’s why we’re funding specifically for women entrepreneurs. In this article, we will look at subsidies.
What business grants are available to women?
These business grants for women are mostly in the form of contests, but can also be included as part of startup or incubator programs.
Women in Innovation Award
Run by Innovate UK and part of UK Research and Innovation, Women in Innovation Award We offer 50 awards to women business owners across the UK.the winner is £50,000 grant Bespoke packages of coaching, mentoring and business support are also available. The award is open to a female founder, co-founder or senior decision maker working in a company that has been in operation for at least her one year. Applicants must be able to make a significant contribution to pressing economic, social, or environmental challenges and be confident that they will be able to do so by winning the award.
The current round is over, but keep an eye out for the next round.
How to apply: Innovate UK application page.
>See: Grace Beverly: ‘You can’t hold women accountable for funding other women’
Cartier Women’s Initiative
of Cartier Women’s Initiative It includes various award schemes aimed at entrepreneurs around the world. The category is the Science and Technology Pioneer Award. Diversity, Equity and Inclusion Awards; Impact Awards and Regional Awards. Prizes include:
- US$100,000 for the first place winner
- US$60,000 for the second place winner
- US$30,000 for the 3rd place winner
All winners receive public support, international exposure and media exposure.
The 2023 Awards have closed, but are expected to resume later in the year.
How to apply: sign up Cartier Women’s Initiative website And stay up to date with the opening of the next competition.
of Abbey Awards, from the Anita Borg Institute, to celebrate the successes of women and non-binary technologists and those who support women in technology. The award categories for 2023 are:
- technical leadership
- visual student
- social impact
- Educational innovations in honor of A. Richard Newton
- budding engineer
The winner receives the prize.This varies from year to year, but so far $50,000Prizes also include an all-paid trip to the Grace Hopper Conference where the ceremony is held, and multiple speaking opportunities.
How to apply: Until applications open for 2023, you can Please register your interest through this online form.
Other subsidy schemes worth mentioning
If these opportunities aren’t for you, some programs have a higher percentage of female founders, like the scheme below.
A whopping 70% of Hatch Enterprise’s core program founders are women. Launchpad, Incubator and Southwark Pioneers Fund Accelerator are open to entrepreneurs at various stages of their business.
Graduate New Founder Program You can receive subsidies up to 1,000 poundswhile graduating New Founders Incubator Program You can apply for grants up to 5,000 pounds Help your business grow and reach the next level. This includes opening new markets, increasing deals, building capabilities and measuring impact.
Method application: Must have completed the Incubator Program delivered via New Founder Launchpad or Hatch. Selections are made based on the business impact of the funding along with the social and environmental impact of the project we wish to fund.
Alternatively, you can focus on another niche grant. Think about what geography, sector, stage of entrepreneurship you are in, or what projects/improvements you would like to make to your business. Check out these other grant articles.
Additional Resources on Investing in Women Entrepreneurs
Q&A – Sarah Turner, Angel Academy: ‘Women tend to be more honest about their businesses’