Funded by the Royal Bank of Scotland as part of the Inspiring Women in Enterprise scheme, the cash is available to women 18 years and above across Barking and Dagenham, Greenwich, Hackney, Newham, Tower Hamlets and Waltham Forest.
Following a successful bid by UEL's Centre of Excellence for Women's Entrepreneurship to RBS, 15 budding entrepreneurs will receive a cash injection of £2,000, a designated mentor to support them in their efforts to set up a business, three months office space at UEL's Knowledge Dock Business Centre, and six expert workshops covering the 'nuts and bolts' of starting up.
At the end of the programme, each entrepreneur will have a professional business plan in place, as well as an established social media presence and marketing strategy, to help them when they go out into the world of business.
The scheme is aiming to inspire and enable 20,000 women to unlock their enterprise potential over the next three years and head of business partnerships at UEL, Linsey Cole was delighted the university could be part of it.
"Whether it's a 23-year -old in Hackney who wants to develop her popup shop concept or a 50 year old mother from Newham who has plans to set up her own PR company, this scheme will give east London's women that much needed injection of start up cash, specialist advice and get them moving in the right circles - often the most crucial factor in getting any business venture off the ground," said Cole.
The Make It Real project will open for applications in February 2013 and run until October 2013. For further information about how to apply, contact Danielle Sheerin on 020 8223 2211 or firstname.lastname@example.org