Innovate UK has reversed its controversial decision to award only half the promised grants to female founders following significant backlash on social media.
Originally, Innovate UK planned to award 50 grants, each worth up to £75,000, through the Women in Innovation scheme. However, only 25 grants were awarded, despite receiving 1,452 applications and having up to £4m available. This discrepancy led to hundreds of female founders voicing their concerns online, questioning the agency’s assessment process and its commitment to supporting women.
Zandra Moore, founder and CEO of Panintelligence, was a prominent voice in the online outcry. Her LinkedIn post, which garnered nearly 500 reactions, responses, and reposts, criticised Innovate UK’s decision, stating, “You’ve messed with the wrong women.”
In response to the public outcry, Innovate UK took to LinkedIn to announce that it would indeed award the full 50 grants, totalling £4m, as initially committed. The organisation’s post acknowledged the mistake in awarding only 25 grants and emphasised the need to manage budgets carefully. However, it admitted that prioritisation had been wrong and apologised for the impact on the applicants and the community.
The statement from Innovate UK highlighted its continued commitment to supporting women innovators and reassured applicants of ongoing support through various programmes. Since 2016, the Women in Innovation programme has played a crucial role in strengthening the UK’s innovation system. The agency pointed out that one in three successful grant applications in recent competitions were led by women, up from one in seven in 2016.
In conclusion, Bridget Greenwood, cofounder of The 200Bn Club, an accelerator for under-represented founders, remarked on the necessity for institutions like Innovate UK to address biases in their processes. She stated, “While the decision to honour the original 50 grants is a step in the right direction, it’s clear that without concrete measures to ensure fair and equitable assessments, we risk perpetuating the very barriers these programmes are meant to dismantle. It’s time to move beyond good intentions and take meaningful action to support all innovators, regardless of gender.” The stagnation of venture funding reaching all-female founding teams at just 2% underscores the need for substantial change.
The reversal of Innovate UK’s decision to fully fund 50 Women in Innovation awards is a response to the significant online backlash and highlights the necessity for transparent and equitable funding processes. Although this adjustment is a positive step, it underlines the broader challenge of ensuring fair support for female innovators.