A nationwide business competition led by the U.S. Small Business Administration aims to assist women business owners in finding capital.

Participants in the 2017 InnovateHER business challenge will compete for $70,000 provided by the Sara Blakely Foundation to promote products and services that increase quality and length of life.

“Women represent half of the U.S. workforce and control 80 percent of the nation’s purchasing power, but still make up less than 5 percent of venture capitalists,” SBA Administrator Maria Contreras-Sweet said in a news release.

The competition will be held at universities, accelerators and other local organizations that have partnered with the SBA. Winners of local events will go to a semi-final round from which the SBA will choose up to 10 finalists. These entrepreneurs will then have the chance to pitch their ideas at the national challenge in mid-2017.

• Contact Marissa Nall at mnall@pacbiztimes.com.