The European Innovation Council (EIC) and the European Institute of Innovation and Technology (EIT) announced on Thursday, June 15, that they have expanded their collaboration by launching a redesigned European Prize for Women Innovators.
According to a statement, the competition will reward an even larger network of female entrepreneurs, recognising their accomplishments and providing them with new opportunities.
Margaritis Schinas, VP for Promoting the European Way of Life, says, “This new award is a great way for Europe to show its shared commitment to innovation and gender equality. It’s a cause that will bring the EIC and EIT closer together – natural allies in breaking down barriers to women in business and tech.”
“My hope is for a large field of competing women innovators and entrepreneurs so we can show the diversity in European tech!,” adds Schinas.
Removing obstacles for women in business and technology
The EIC and EIT are aware that systemic barriers continue to stand in the way of women’s growth in the fields of business and technical innovation. Because of this, they have made empowering women in such fields a key component of their purpose.
A statement from EIC says women are a valuable source of talent who are all too frequently discouraged or turned away from the IT industry.
According to research conducted by the EIT in collaboration with Dealroom, inclusivity unlocks Europe’s potential for innovation. It was discovered that women-founded tech scale-ups expanded 1.2x faster than their competitors over the last five years, demonstrating the amount of potential Europe can harness if it makes tech more inclusive of women.
Studies have also shown that without women’s viewpoints and involvement in the development of areas like AI may fail to satisfy people’s true needs, instead reproducing the disparities and harms that exist in our current system.
The European Prize for Women Innovators is the recent action the EIC and EIT have taken to guarantee that Europe can benefit from inclusive innovation to the fullest extent possible.
It will link female innovators, offer them an opportunity to network and create a community, and help increase the number of women in leadership roles in the future by normalising the concept of women in charge. It won’t merely choose winners and provide rewards.
The award will be granted to the most inspiring female entrepreneurs whose innovations have a beneficial influence on people and the environment.
What can the winners expect from the awards?
Three winners in each of the following categories will be revealed during the European Innovation Council Summit in March 2024:
- Women Innovators: This category welcomes all female entrepreneurs and co-founders from the EU and Associated Countries. The winner receives €100K, while the runners-up receive €70K and €50K, respectively.
- Rising Innovators: Young innovators under the age of 35 are eligible for this category. The winner receives €50K, while the runners-up receive €30K and €20K, respectively.
- EIT Women Leadership: Those having a direct connection to the EIT Community or one of the current Knowledge and Innovation Communities are eligible for this category. The winner receives a prize of €50K, while the two runners-up receive €30K and €20K, respectively.
If you believe you match the qualifications for any of these awards, apply between June 15, 2023 – September 27, 2023. You can apply for the three categories, Women Innovators, Rising Innovators and EIT Women Leadership.
Please read the contest rules before submitting your application. You can apply via the Funding & tender opportunities portal:
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