The prize is monetary and it is quite significant: 100.000 Euros will be given to the first position while the second will get 50.000 ? and 30.000 ? for the third. Besides these awards, the Rising Innovation Award will be given to a young female entrepreneur in the very early stage of her career. This award is worth 20.000 ?.
The European Union Prize for Innovative Women was conceived as women-specific because of female underrepresentation in creating innovative enterprises throughout the EU territory. This is why in 2011, the Commission launched this prize promoting women activity and also increasing the EU overall competitiveness. Carlos Moedas - EU Commissioner for Research, Science and Innovation - commented on the Prize stating that "it is a public acknowledgement of excellence and it should inspire other women to follow the example of the awarded female entrepreneurs". Quoting the brilliant innovations of 2017 edition (such as the first tablet for blind people), Mr Moedas has also declared "I can't wait to see the new brilliant ideas of next edition".
With regard to the Prize application requirements, participation is reserved to women across the EU who have already created a successful company, launched innovative products on the market and who have been supported by R&I funding from the private or public sector. All the projects presented will be evaluated on the following criteria: originality and marketability; economic impact (measured by the number of countries where the product or service is sold, also by its size and turnover); societal impact (measured by the number of jobs created and its potential to assist the EU in facing the most pressing societal challenges); impact and leadership role of the contestant, who need to point out how their role impacted the success of their companies and helped empowering other women. People can apply until November 17th and then follow results on #WIPrizeEU .