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SBA launches competition for female-driven innovations

María Contreras-Sweet

María Contreras-Sweet

Addressing the needs of women and the role they play in America’s economy, the U.S. Small Business Administration has launched a nationwide competition for entrepreneurs who are developing products and services that will enhance the lives of women and their families.

“The landscape of the U.S. economy has evolved drastically during the last 50 years, and women played a significant role in that change,” said SBA Administrator Maria Contreras-Sweet.

“We are harnessing the power of America’s entrepreneurs to develop products, services and technologies that support women as they deal with the challenges of work and home. This innovation challenge will both help strengthen the economy and empower women to succeed,” she said.

“InnovateHER: 2015 Innovating for Women Business Challenge” kicked off in early March with local competitions hosted by universities, accelerators, clusters, scale-up communities, SBA’s resource partners, and other local organizations.

The SBA is seeking entrepreneurs who have created a product or service that will have a measurable impact on women and their families, fills a need in the marketplace, and has the potential for commercialization.

“We encourage Puerto Rico entrepreneurs to approach a local host and take advantage of this unique opportunity,” said SBA Puerto Rico & U.S. Virgin Islands District Director Yvette T. Collazo.  “This business challenge represents only the beginning of what can result in a very successful enterprise.”

Those entrepreneurs selected by local judges will make it to the semi-final round. An executive committee comprised of SBA officials will review the semi-final nomination packages and select no more than 10 finalists.  The finalists will compete for a total of $30,000 in prize money provided by Microsoft.

The 10 finalists will travel to the District of Columbia on May 8th where they’ll pitch their products and ideas to a panel of expert judges during SBA’s National Small Business Week. For details on contest rules and a list of local competitions, visit www.sba.gov/innovateHER.

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This story was written by our staff based on a press release.

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