How the Northern Powerhouse Investment Fund II is turning the tide for female founders

It is no secret that when it comes to securing investment, it is female founders who receive a smaller slice of the pie. Securing access to finance is a crucial step in the growth journey of any business and is often one of the few ways to seriously accelerate a business forward without relying on organic growth. Businesses need an injection of cash to fund a variety of strategic decisions, such as hiring new people, meeting new contracts, or buying expensive equipment. For female-founders, the needs of their business are the same as anyone else’s, which is why it is concerning that the share of total equity investment received by all-female founder teams stood at just 1.9% in 2024.However, evidence shows that if women were to start and scale enterprises at the same rate as men, up to £250 billion could be added to the UK economy. The Northern Powerhouse Investment Fund II (NPIF II) is playing an important role in helping to realise this potential by supporting female-founded and led businesses across the North of England to secure the finance they need to grow. 

It is therefore crucial to highlight and celebrate these success stories, showcasing women who are driving growth with investment to encourage others from underrepresented groups to apply for finance and take their businesses forward.  

Breaking through in science, technology and innovation

Many of these stories are found in the science and technology space where  several female-led businesses are thriving.

Magnitude Biosciences, led by Dr Fozia Saleem, is helping biotech and pharmaceutical clients progress R&D research by screening thousands of compounds per week to quickly identify how foods and other influences impact ageing. Atomic AM, founded by Professor Kate Black, is pioneering new approaches in advanced manufacturing to help the sector cut down on its emissions. Synergy Health in Kendal, led by Dr Christine Hagon, is innovating within the clinical services space, while SiSu, founded by Samantha Fay, is building tools to support mental resilience in the workplace. 

These are cutting-edge companies solving complex global challenges and proof that when capital flows into the right hands, it fuels both innovation and growth.

Consumer businesses that scale

Female founders are also driving some of the North East’s most exciting consumer-facing ventures. Pablo Eggsobao was founded by Emma Dent and has six locations across the North East. The investment from NPIF II has helped her open her seventh store in Newcastle, creating six new jobs in the process. Meanwhile, fellow local food entrepreneur, Alex Walker, is opening Awesome Franks, a gourmet sandwich and deli concept, in Jesmond having secured a smaller loan from NPIF II. 
This year, we also saw female-founded A Year of Dates and Peach Hampers show how personalised products can win loyal customers and open up new markets. 

Strengthening services and infrastructure

Not all growth stories are headline-grabbing technology players or the latest new food spot. Many of NPIF II’s female-led investees are in sectors essential to the everyday running of the economy.

Moxie Financials, established by Sian How, is helping clients navigate complex financial decisions by bridging day-to-day accounting with outsourced CFO-level guidance. Laura Weaving’s Duo Consulting works with organisations to improve performance and workplace culture. And in the built environment, Hi-Point Access’s finance director, Carly Turley, secured NPIF II funding to invest in new equipment.

What this tells us about the bigger picture

From biotech labs and advanced manufacturing to personalised gifting and financial services, these companies demonstrate that female entrepreneurs are driving innovation across a broad range of sectors reflecting the growing presence of women in dynamic, high-growth industries.

When finance meets ambition, it sparks growth and innovation that benefit whole communities by creating jobs, developing new technologies, and opening new markets. 

The Northern Powerhouse Investment Fund II shows how deliberate, flexible funding can begin to shift this imbalance. By backing diverse sectors and offering a range of finance options, it’s helping to reshape the investment landscape for female entrepreneurs in the North.

While these investments mark a promising start, the real challenge is turning this into lasting change. Investors must increasingly recognise the value female founders bring and adapt their approaches accordingly. This is not about meeting quotas but about unlocking untapped potential that strengthens the wider economy.