The Commission plans to award up to three "EU Prize for Women Innovators 2016" following a European-wide contest. The prizes are addressed to women who have founded or co-founded a company and who themselves or their company have benefitted from EU funding related to Research and Innovation. The prizes will not reward research or innovation proposed for the future, but only achievements that have been already obtained by the candidate.

The contest will target women who have benefited from EU research and innovation programmes and who have combined their scientific excellence with an aptitude for business in setting up innovative enterprises. Entries will have to clearly state the involvement of the contestants in the research and innovation activities and the potential of their product or service to access the market, also highlighting the relevant economic and societal impact.