Unlocking success: EmpoWomen boosts women-led deep-tech innovation in Europe

Despite years of policy attention, women-led deep-tech startups in Europe continue to face structural disadvantages, particularly in access to finance, investor networks, and tailored growth support. These challenges are even more pronounced in Widening countries, where innovation ecosystems are younger, less capitalised, and more fragmented.

The EmpoWomen project, funded by Horizon Europe under the StartupEU framework, was launched to address this gap. Its ambition: to test whether a targeted, gender-smart, equity-free acceleration model could materially improve outcomes for women-led deep-tech startups - and generate actionable evidence for future EU programme design.

After 24 months of implementation, EmpoWomen stands not only as a successful programme, but as a policy-relevant testbed demonstrating how inclusive design and competitiveness can advance together.

Prioritising gender-smart capacity over traditional funding models

Rather than treating finance as the primary bottleneck, EmpoWomen approached the challenge from a different angle: capability formation. The project was designed around the assumption that, in deep-tech, funding only becomes effective once founders are equipped with the strategic, operational and investment-facing skills required to absorb it.

Implemented between 2023 and 2025 with a total budget of €2 million, EmpoWomen was delivered by a consortium combining operational, investment and ecosystem expertise -Sploro, Startup Wise Guys, Business Angels Europe and TechUkraine. 

Over two highly competitive Open Calls, the project attracted over 1440 applications from 30 eligible countries. This level of demand was not simply a success metric; it was a diagnostic signal. It confirmed that women-led deep-tech startups in Widening countries are neither rare nor early-stage anomalies. They are present, diverse and ambitious, but often disconnected from support instruments that match their needs.

From this pool, 25 startups were selected and supported through two structured acceleration cycles. The emphasis throughout was on helping founders navigate complexity: aligning technology development with market logic, articulating credible investment narratives, and engaging with investors on more equal footing.

Capacity building as a driver of measurable change

One of the most instructive aspects of EmpoWomen was what happened after the training and acceleration activities were underway. Startups that completed the programme showed clear improvements in strategic clarity, operational maturity and investment readiness when compared with similarly strong applicants that were not selected.

The most telling signal emerged around follow-on funding. EmpoWomen-supported startups were significantly successful in mobilising private investment, across equity and non-equity instruments alike. In aggregate terms, the programme achieved a leverage effect of at least €7.5 in subsequent investment for every €2 of public support.

These outcomes suggest that capacity building is not a soft intervention. When designed intentionally, it becomes a structural enabler - one that allows public funding to interact more effectively with private capital.

Key takeaways from the project

1. "Demand is not the problem, access is"

The application volume and quality confirmed that women-led deep-tech startups in Widening countries are not a niche exception, but an under-supported majority. What is missing are credible, tailored instruments that account for both technological complexity and structural gender barriers.

EmpoWomen showed that when such instruments are offered, demand follows, at scale.

2. "Equity-free funding is a catalyst, not a distortion"

When combined with structured acceleration, clear KPIs, and accountability, equity-free funding acted as a de-risking mechanism. Start-ups exited the programme better prepared, more confident, and more investable.

3. "Gender-smart design outperforms gender-blind approaches"

EmpoWomen did not simply “add women” to a standard accelerator. Its curriculum, mentoring model, and investor engagement explicitly addressed:

• gender bias in fundraising,
• credibility and signalling gaps, and
• unequal access to informal networks.

This gender-smart design translated into tangible performance gains, confirming that inclusion and excellence are mutually reinforcing objectives.

Enduring legacy of EmpoWomen

EmpoWomen’s legacy extends well beyond the 25 funded start-ups. One of its most significant outputs is the White Paper on women-led entrepreneurship in deep tech, which consolidates quantitative and qualitative evidence from the programme into actionable recommendations for policymakers and funding authorities.

Together with the project website and open dissemination of results, these assets are already informing dialogue with European and national stakeholders and align closely with broader EIC priorities on widening participation, inclusive excellence, and innovation impact.

As EmpoWomen concludes, it leaves behind:

• A proven, replicable model for supporting women-led deep-tech startups in Widening ecosystems.
• Evidence-based insights linking public funding design to private investment outcomes.
• A visible portfolio of funded startups demonstrating that deep-tech excellence emerges across Europe when barriers are removed.
• A growing community and narrative that challenges outdated assumptions about risk, geography, and gender in innovation.

Most importantly, it leaves a clear message for future EU programmes:

Targeted, well-designed public funding can unlock both inclusion and competitiveness - if it is built on evidence rather than assumptions.