Durham University is part of a group of leading UK universities supporting women entrepreneurs through the launch of the UK’s first WE Innovate National network.
Led by Imperial College London, the network of five universities will run programmes to support 150 women-led business teams annually.
It will be based on the format of Imperial’s flagship competition for women entrepreneurs, WE Innovate – a six-month programme for 25 teams led by students, recent alumni and Early Career Researchers.
The scheme supports women founders through masterclasses, business coaching, one-to-one expert support, and peer mentoring, with the top five teams competing for a chance to win a share of a £30,000 prize fund.
Alongside each university’s regional grand final, the WE Innovate National programme will also hold a national ‘Demo Day’ at a different university each year.
This will see the winning teams from each university present to an audience of peers, investors, and industry representatives.
In addition, the national WE Network will create more opportunities for women founders to meet other startup teams, peer mentors, investors, and industry representatives from across the UK.
Durham University alumnus, Dame Alison Rose – the first woman to lead one of the UK’s big four banks – is supporting the initiative.
Alison led the Rose Review of Female Entrepreneurship published under the 2016 to 2019 UK Government.
The review shed renewed light on the barriers faced by women starting and growing businesses and identified ways of unlocking this untapped talent.
Alison said: “The significant benefits that female entrepreneurs can contribute to the UK economy from the research conducted in the Rose Review underpins the high potential of female entrepreneurship.
“Providing the right support and access to networks and financing to drive growth at all stages of their journey can unlock and accelerate progress.
“The WE Innovate initiative is a great example of the collaboration and support that is so vital for developing successful entrepreneurs.”
The collaborating universities are Durham, Imperial College London, Queen’s University in Belfast, Swansea University and the University of Glasgow.
The WE Innovate programme will be delivered at Durham through the University’s Venture Lab.
The Venture Lab delivers an extensive range of innovation and startup activities to students and graduates designed to inspire, build self-belief and empower.
Venture Lab startups have been featured by Forbes 30 Under 30, BBC’s Dragon’s Den; attended world class accelerators such as TechStars and IndieBio, and were finalists in Prince William’s prestigious Earthshot Prize.
The WE Innovate National network adds to Durham University’s existing initiatives to support female entrepreneurs.
This includes the TechUPWomen Click Start programme which offers IT skills courses and specialist career taster sessions for women, as well as tutoring in areas such as public speaking, communication and team-working.
In 2020 TechUPWomen won a Digital Agenda Impact Award and a Dynamo Award and was shortlisted for the Northern Power Women Awards, among others.