According to a study by the OECD[1], women remain significantly under-represented among business leaders although the participation of women in the labour market has increased steadily over the last 50 years. Only 30% of companies in OECD countries are reported to be owned by women despite the fact that entrepreneurship is recognised as a powerful vehicle for job creation, innovation and growth.

Conscious of this untapped potential and in line with its goal of financing the national economy, BIL launched the Business Woman of the Year competition in 2006. The aim of the competition remains unchanged: to emphasise the important role that women play in business and to support female entrepreneurship. In this 10th edition, innovation will once again be a key requirement for taking home the award.

“Barriers to greater gender equality still exist in the working world, but skill and talent know no gender. With the Business Woman of the Year competition, we wish to make our contribution to bridging the gender gap by putting the spotlight on female entrepreneurship”, said Karin Scholtes, Head of People, Culture and Communication at BIL.

The panel of judges, composed of male and female representatives of BIL and its partners Technoport, Jonk Entrepreneuren, Paul Wurth InCub, Schiltz & Schiltz, Equilibre and WIDE, will select an innovative project led by a woman, who may be a manager in a start-up or an SME established in Luxembourg.

Contestants must submit their application at www.bilbusinesswoman.com before 24 April. Submitted projects must be innovative and have a positive impact on Luxembourg’s economy. The judges will then invite the top five contestants to pitch their projects on 5 June 2019 before selecting the Business Woman of the Year, who will be presented with a cheque for €10,000.

The complete terms and conditions of the Business Woman of the Year competition are available at www.bilbusinesswoman.com.

[1] Closing the Gender Gap: Act Now, OECD