Women’s business ideas are as strong as men’s but only one in seven innovation funding applications are from women, new research has revealed.
According to Innovate UK, which analysed over 8,500 applications since 2013, the health and life sciences sector has a higher level of applications from women (17 -29%).
Northern Ireland had the highest proportion (20%) of applications submitted by women and the West Midlands had the lowest number (9%) of applications from women.
In response to its findings that only 14% of applications are by women, Innovate UK has launched a £200,000 funding competition for women with innovative business ideas.
The infocus Women in Innovation Awards is a women-only competition and is designed to offer both funding and mentoring.
Ambassadors backing the infocus campaign include Deputy Team Principal of Williams F1, Clare Williams, investment manager Nicola Horlick, entrepreneur and investor Sherry Coutu CBE, Facebook VP EMEA Nicola Mendelsohn and science and technology broadcaster and women in tech champion, Maggie Philbin.
Innovate UK also commissioned extra research by Ebiquity, which found that 31% of female innovators feel that being a woman in a male-dominated industry has affected their career in a negative way.
You can find out more information on how to apply here.