Women certainly have made their mark in Silicon Valley. Think Facebook Chief Operating Officer Sheryl Sandberg and Yahoo Chief Executive Carol Bartz.
But the relative paucity of female technology entrepreneurs remains a chronic problem.
So Arianna Huffington, Donna Karan and Sarah Brown are teaming up with i/o Ventures to identify the most promising female technology entrepreneur.
The award, which comes with a $25,000 investment from i/o Ventures and several months' free office space at its headquarters in San Francisco, will be presented at the inaugural WIE Symposium in New York City in September. (WIE stands for Women: Inspiration & Enterprise.)
"We believe that female entrepreneurs are underserved and we want to help; we think that mentorship is important but even more so putting real money to work," said i/o Ventures co-founder Paul Bragiel.