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Fifteen women have won £50,000 after winning the very first Women in Innovation competition.
The competition was launched by agency Innovate UK due to the fact that only one in seven business funding bids the company received were from women.
Each of the winners which were chosen from 34 finalists will also receive a business mentor as well as tailored business support.
Research completed recently found that only eight per cent of engineers in the UK and 14 per cent of people working in science, technology and engineering industries (Stem) were women.
One reason for such low numbers of women working in business and in the Stem area may well be because of the lack of female role models.
Dr Ruth McKernan, chief executive of Innovate UK, told the BBC: “It is very clear that harnessing the talent of women entrepreneurs could significantly enhance UK economic growth.
“I am delighted that we are taking action, supporting and funding female entrepreneurs to help them succeed and inspire other women to come forward, apply for funding and turn their ideas into successful businesses.
“The calibre of winners is an eye-opening view into the talent and vision of the UK’s female entrepreneurs.”