In a recent turn of events, Innovate UK, the government’s innovation agency, found itself under fire after halving the number of grants awarded to women-led businesses.

This shocking decision, revealed last month, sent ripples through the entrepreneurial community, particularly among female founders who had eagerly anticipated support to advance their innovative ideas.

The prestigious Women in Innovation Awards, designed to champion female entrepreneurs, received a record 1,452 applications this year. 

These came from passionate women across the UK, all competing for a share of the £4million funding pot. However, dismay quickly spread when it was revealed only 25 grants were awarded, despite numerous applications scoring over 90%. 

This abrupt reduction, from 50 grants down to 25, sparked outrage, representing more than £2m in underfunding for female entrepreneurs. 

The decision ignited a firestorm on social media, uniting founders, investors and supporters to demand immediate reform.

In response to a LinkedIn post by Emma Jarvis, founder of Dearbump, the movement ‘Let’s Fund More Women’ was born. Led by tech and innovation leader Becky Lodge, below, the campaign united a coalition of female founders and business advocates. 

Becky explained: “When this started, many thought it was a short-term issue, but it’s actually the result of over a decade of systemic problems in funding female entrepreneurs. It’s incredibly frustrating.”

The movement gained rapid momentum. Within days, Becky Lodge had joined forces with Tara Attfield-Tomes, founder of PR agency East Village; Zandra Moore, CEO & Co-Founder of data analytics and AI firm Panintelligence; Ingrid Murray, Founder of FundFast and Co-Founder of Confused.com; and Emmie Faust, Founder of Female Founders Rise. 

Together, they secured media attention, formed a 400-strong WhatsApp group, and engaged in high-level discussions with government ministers, ultimately securing a meeting with the CEO 
of Innovate UK. 

Their mission was clear: to reverse Innovate UK’s decision and overhaul the Women in Innovation Awards. 

Their persistence led to a reversal within 36 hours, reinstating £2.12m in funding and enabling 25 additional female entrepreneurs to receive grants. This victory marks a tipping point for many women in business. Only 2% of venture capital funding goes to women, a statistic that has remained unchanged for nearly a decade. The start-up journey for female founders is fraught with more challenges, with women facing significant barriers to resources and opportunities. 

Many in the community have echoed: “It’s always an uphill struggle”.

The group didn’t stop at securing the funding reinstatement. They also provided crucial feedback to Innovate UK on the laborious and often costly application process. 

Early data from Let’s Fund More Women revealed that the average application took 84 hours to complete, amounting to more than 61 years of lost productivity across the group of applicants. The timing of the application window, during school holidays, created additional challenges for women juggling family responsibilities. Some applicants sacrificed precious holiday time with their children, while others paid up to £15,000 for external bid writers, all for a mere 3.4% chance of securing a £75,000 grant. 

Further frustration emerged when it became clear that many women who scored between 70% and 92% did not win funding. 

Concerns were raised about the feedback provided, with suggestions that it lacked clarity, transparency, and perhaps even contained elements of unconscious bias. 

The coalition of female founders sought to formalise these anecdotal stories into structured feedback, offering Innovate UK a clear picture of the challenges faced by female applicants. Their goal was not only to reverse the decision but to drive meaningful change for future applicants, ensuring a fairer, more transparent process for all.

In response to the backlash and growing calls for reform, Innovate UK has acknowledged the concerns and committed to working closely with representatives from the female founder community to co-design the 2025 Women in Innovation Awards. 

This collaborative effort aims to incorporate feedback from this year’s applicants to create a more inclusive and effective program. 

Furthermore, Innovate UK pledged to provide data-backed feedback on award criteria, ensuring fairness, accessibility, and transparency. The agency also committed to developing a more diverse pool of assessors, reflecting a broader range of experiences and perspectives.

For female entrepreneurs this victory is more than just the restoration of funding – it’s a testament to the power of collective action and advocacy. 

The reversal of Innovate UK’s decision is proof that, when united, female founders have the strength to shape policies that affect their businesses and futures. Moving forward, it’s crucial to continue pushing for reforms and holding institutions accountable for their commitments.

Female entrepreneurship has evolved from a niche focus on women in business to a broader movement advocating for parity and equity. 

One viral LinkedIn post ignited a movement that, in record time, changed the outcome for 25 female-led businesses. More importantly, it highlighted the systemic issues in the process of grant applications and funding allocation that have long hindered women’s success. 

While the journey to equity in funding is ongoing, this triumph serves as a powerful reminder of the strength and resilience within our community. 

Together, we have shown that by standing up and speaking out, we can make a difference. As Becky

Lodge states: “It’s been a much bigger mission around fairness, and we need inclusion – not just because it makes sound economic sense but because it’s the right thing to do.” 

Dr Antoinette Fionda-Douglas is co-founder of Beira, and assistant professor at Heriot-Watt University