Highlights
Infocus
How the Women in Innovation programme is supporting new UK entrepreneurs.
Summary
Working with Innovate UK, KTN is supporting the Innovate UK infocus programme, called Women in Innovation, aimed at challenging the low number of female entrepreneurs in the UK.
In November 2016, Innovate UK selected 15 winners for its first ‘Women in Innovation' competition – who were each awarded £50,000 – and 19 finalists, all of whom receive a business support package co-delivered by KTN. In March 2017, the competition winners and finalists attended a two-day boot camp in Warwickshire, with sessions on everything from social media to leadership skills and how to pitch to investors.
Building on the project, £300,000 has been awarded to KTN from Innovate UK to support the infocus diversity and inclusion activities for 2017-18.
Over the past year, KTN has been working with Innovate UK on its first infocus programme, called Women in Innovation – the aim of which was to challenge the low number of female entrepreneurs in the UK, with just 14% of Innovate UK funding applications coming from women.
In November 2016, Innovate UK selected 15 winners for its first ‘Women in Innovation' competition (each awarded £50,000) and 19 finalists – all of whom are receiving a business support package co-delivered by KTN.
KTN’s networking event, ‘Ready to make an impact?’ in London in February 2017 had over 70 registrations within the first hour. The final event capacity was increased to 150 and a webcast of the event was streamed to meet the demand. Opened by Dr Ruth McKernan CBE, CEO of Innovate UK, the event featured product pitches from delegates and short presentations on the support available to companies, as well as an interview with Claire Williams, Deputy Team Principal of Williams F1. The event had a brilliant atmosphere, with the women openly sharing their challenges and suggesting solutions. Over 70% of those surveyed rated the event as very useful and had made more than four new connections.
From left to right, Ruth McKernan CBE, Chief Executive, Innovate UK with Claire Williams, Deputy Team Principal of the Williams Formula One team.
“The whole event was brilliant in terms of the content and the way it was run. It was really nice to be in a room of so many women with brilliant ideas.”
In March 2017, the competition winners and finalists attended a two-day boot camp in rural Warwickshire. Here the women enjoyed 12 sessions covering everything from social media and how to pitch to investors, to leadership skills and developing a convincing value proposition. A lunchtime Q&A session with two of our Women in Innovation Ambassadors provided delegates with frank insights of life as a female entrepreneur. Although the boot camp was very intensive, the women also had the opportunity to network and chat over dinner, getting all-important peer support as well as the expertise of the trainers.
“I have enjoyed the day and all the sessions gave me something new to think about. I have also enjoyed the opportunity to spend more time with the other finalists and support team.”
Overall, the short project activities demonstrated the huge demand for more specific support for female innovators and the potential for working together with many different stakeholders around this common goal. Building on the project, £300,000 has been awarded to KTN from Innovate UK to support the infocus diversity and inclusion activities for 2017-18. This has enabled the recruitment of a full-time Diversity Knowledge Transfer Manager and will support the next infocus campaign on Young Entrepreneurs, as well as the ongoing support for Women in Innovation.