Cartier has announced the selection of the finalists for the 2020 Cartier Women's Initiative (open in new tab), which offers 21 women entrepreneurs the opportunity to receive substantial financial support for new businesses with a social impact. Since 2006, the program has supported more than 200 companies led by women entrepreneurs and created more than 7,000 jobs.

Seven winners, one from each region, will receive $100,000, and the remaining 14 will receive $30,000, for a total grant of more than $1 million. To advance to the final round, all finalists must meet the following criteria: be in the early stages of business (less than five years old), have been generating revenue for at least one year, and meet at least one of the UN Sustainable Development Goals. Finalists will receive financial assistance as well as one-on-one strategic coaching and support from the INSEAD Business School.

The three finalists from North America are Sarah Thunberg, Stephanie Benedetto, and Kelly Nguyen.

Tuneberg's business, Geospiza (open in new tab), is an information system to assess an organization's exposure to climate change and a visualization tool to support decision-making strategies. The idea for the company came from her 15 years working as an emergency manager and the lack of clear software during Hurricane Sandy.

Benedetto's Queen of Raw (opens in new tab) is an unused fabric marketplace that connects buyers with factories, mills, retailers, and other businesses in hopes of reducing waste in fashion production. She models her business on that of her great-grandfather, an Austrian immigrant who started a textile business reusing fabric from discarded garments.

Nguyen launched IDLogiq (opens in new tab) to help medical patients manage and verify their medications in order to combat the counterfeit drug market. By combining his background in pharmaceutical companies with his desire to create democratic and easy-to-use consumer products, he hopes to provide users with the information they need to properly handle their medications.

The winners will be announced in June. Information on all finalists can be found at cartierwomensinitiative.com.

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