Arianna Huffington, Donna Karan and former U.K. first lady Sarah Brown are working with i/o Ventures to invest $25,000 in the most promising female technology entrepreneurs. The award also comes with four months of free office space in San Francisco at i/o Ventures, which will get an 8% stake in companies it invests in. "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," i/o Ventures co-founder Paul Bragiel said.

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