STEAMhouse
12th February 2025
STEAMhouse are proud to share that one of our members, Ilisha Masaun, founder of Birmingham-based Econominds, has won a £75,000 grant at the Innovate UK Women in Innovation Awards. The Awards is celebrating 50 women leading the charge in groundbreaking industries – from revolutionary peat-free farming solutions, to continuous green electricity, to an AI-powered platform that streamlines allergy management in schools.
This year’s winners are tackling critical social, environmental and economic challenges, creating a robust pipeline of women-led businesses for future investment. Each winner will receive a £75,000 grant, personalised business coaching, and access to networking, role modelling and training opportunities.
Ilisha Masaun, founder of Birmingham-based Econominds, emerged as one of 50 trailblazing winners for her revolutionary initiative that harnesses AI to transform education. Her innovative system personalises learning, gathering learning preference data from the individual, to help economics students to focus their effort. The approach cuts study time by up to 50%, increases student understanding and retention, optimising their grades on assessment.
Inspired by her own struggles with undiagnosed dyslexia—a challenge that led to multiple school exclusions—Ilisha developed the Econominds Framework during high school. Determined to overcome a system that failed to recognise her potential, she has reinvented the way students learn. Graduating in the top 1% of her cohort in Economics, Ilisha has also achieved success across corporate finance, working on £1bn worth of deal value by the age of 23, proving just how valuable her methods can be.
Today, her groundbreaking approach has already empowered over 8,000 students worldwide. With the backing of Innovate UK, Ilisha is set to refine her algorithms further and broaden her student support across an even wider array of subjects, enabling future generations to achieve their very best.
We are proud to have helped Ilisha and Econominds to innovate through our fully-funded digital support programme, supported by the Barclays Eagle Labs Ecosystem Partnerships Programme. As part of the programme, Ilisha received access to exclusive events, tools, knowledge and mentoring opportunities with industry and ecosystem leaders in order to develop her skills, products and services as part of efforts to boost the region’s digital industry.
Since launching in 2016, the Innovate UK Women in Innovation Awards have invested over £11 million in 200 women innovators and has built a vibrant community of over 10,500 women business leaders.
Emily Nott, Head of Equality, Diversity and Inclusion at Innovate UK, said:
“The Innovate UK Women in Innovation Awards spotlight the UK’s most groundbreaking women entrepreneurs. This year’s winners have shown incredible leadership and creativity. We’re thrilled to support them in scaling their businesses and inspiring the next wave of women innovators. Their success stories will undoubtedly pave the way for more women to enter and thrive in the world of innovation.”
Dr Stella Peace, Interim Executive Chair of Innovate UK, said:
“The Women in Innovation programme is a powerful catalyst for change, not just for the brilliant women entrepreneurs it supports, but for the entire UK innovation landscape. By breaking down barriers and amplifying diverse voices, Innovate UK are fostering a more inclusive and dynamic ecosystem that drives progress across all sectors. This programme is about more than funding – it’s about creating role models, building networks, and inspiring the next generation of women innovators to dream big and transform our world.’
Minister for AI, Feryal Clark, said:
“From low-cost cancer treatments that could save lives through earlier diagnoses, to AI supporting our police to secure victims’ justice, this year’s Women in Innovation Awards winners are driving forward an exciting range of projects that could improve so many aspects of our lives.
“It is testament to the quality of these awards that previous winners have gone on to grow their business, secure major investments and partner with organisations from Google to Disney.
“It truly shows the value of Government investing in creative, women-led projects in every corner of the UK – supporting economic growth to deliver our Plan for Change.”
Explore all 50 of the remarkable award winners and discover how you could benefit from the programme by searching ‘Innovate UK Women in Innovation’ or visiting: bit.ly/IUKWomenInnovate
STEAMhouse is on a mission to enable innovation through collaboration. Powered by Birmingham City University, it’s a supportive space where entrepreneurs, students, businesses and organisations co-exist to solveproblems and develop new ideas. Comprised of four floors, STEAMhouseprovides the latest technology, kit and equipment, complemented by a portfolio of products services and programmes that include skills development, space hire, consultancy services, and events, it’s a destination that makes innovation happen.