European Innovation Council Initiatives to Support Women Entrepreneurs and Researchers
Promoting Women Entrepreneurs and Researchers: The EIC’s Commitment Since the inception of the European Innovation Council (EIC) in 2020, a strategic focus has emerged around enhancing the role of women entrepreneurs and researchers. This initiative aims to boost Europe’s innovation capacity and ensure that innovations are relevant to all citizens, demonstrating a commitment to inclusivity and diversity in the innovation ecosystem. Key Initiatives for Women Entrepreneurs The EIC has made significant strides in prioritizing women CEOs throughout the EIC Accelerator application process. This prioritization is part of a broader effort to support female entrepreneurs through dedicated initiatives such as: WomenTech EU: This groundbreaking program supports early-stage deep tech startups that are both funded and led by women. It provides crucial resources, networking opportunities, and visibility to women-led ventures, acknowledging the unique hurdles they face in the tech sphere. Women Leadership Programme: This specialized initiative offers coaching and mentoring tailored specifically for women entrepreneurs who have received EIC funding. The program equips them with the necessary skills and confidence to navigate the complexities of scaling their businesses. Recognizing Female Innovators Moreover, the EIC awards an annual EU Prize for Women Innovators, which aims to recognize and promote women entrepreneurs who have successfully founded companies and brought their innovations to market. This accolade serves not only as a reward for hard work and creativity but also as an inspiration for other women in the entrepreneurial landscape. Ensuring Gender Parity The EIC is firmly committed to ensuring gender parity within its governance structures. This includes a balanced representation on the EIC Board and in the expert juries and evaluators who assess applications for EIC funding. By fostering diversity at every level of decision-making, the EIC strengthens its commitment to creating a fairer ecosystem for all innovators. Progress and Challenges As a result of these dedicated efforts, there was a notable increase in women-led initiatives: 20% of the companies funded by the EIC Accelerator in 2020 and 2021 were female-led, and the share of female-led EIC Pathfinder projects reached 24%. Additionally, over 30% of researchers involved in projects funded by EIC grants are women. These figures represent a significant improvement compared to overall industry trends where, in 2021, only 1.8% of funding went to female-led startups, while a staggering 89% went to male-led startups and 9.3% to mixed teams. Despite this progress, challenges remain. Gender biases and structural barriers still impede the full participation of women in the entrepreneurial landscape. The EIC acknowledges these challenges and continues to address them through targeted initiatives and funding opportunities. Looking Forward The EIC Board has established a specific Key Performance Indicator (KPI) aimed at tracking and further increasing support for female-led startups. This ongoing commitment reflects the EIC’s dedication to fostering an inclusive innovation ecosystem across Europe. In the future, the EIC plans to leverage other funding mechanisms, such as EIC Transition funding and EIC STEP Scale-Up initiatives, to bolster opportunities for women entrepreneurs. Additionally, as part of the EIC Accelerator program, resources on how to apply for EIC Accelerator funding will be made more accessible, including best practices for EIC Accelerator application and proposal writing. Providing clear guidelines on the EIC Accelerator evaluation criteria is essential to empower women-led startups to achieve success in securing funding. The EIC’s coaching services also aim to enhance the success rate of these applications, helping entrepreneurs refine their strategies and understand the EIC Accelerator funding eligibility requirements. By addressing these priorities, the EIC not only enhances the visibility of female entrepreneurs but also strengthens the European startup ecosystem as a whole. With an eye toward 2025 and beyond, the EIC strives to continue increasing funding for women-led startups through various avenues, including non-dilutive funding for startups and EU grants for deep tech startups, ultimately fostering a balanced environment where all innovators can thrive.