LONDON, UK — The UK government has announced a new initiative to help women-led technology businesses secure investment, expand operations and overcome barriers to growth.

The programme, announced on 29 October, forms part of the government's wider strategy to strengthen the UK's technology sector and support business growth.

The initiative will include a new scale-up programme designed to provide additional support for women entrepreneurs seeking to expand their companies.

The government is also working with technology companies and investors to address workplace discrimination and investment barriers facing female founders.

A new set of voluntary industry standards is being developed to improve workplace culture and encourage fairer investment practices.

Major companies and investors, including BT, Revolut, Sage, Balderton Capital and Octopus Ventures, are among the early industry participants.

The government said that improving opportunities for women in technology could unlock up to £310 billion for the UK economy.

The programme comes as the UK seeks to strengthen its position as a global technology and startup hub, with female entrepreneurs continuing to face challenges in accessing venture capital and scaling their businesses.

Further details of the standards and the scale-up programme are expected in the coming months.

The initiative could provide new opportunities for women-led startups across fintech, artificial intelligence, software development and other technology sectors.