By Rieva Lesonsky

women business ownersThe lack of women in technology has been discussed and debated for years. Now three prominent women are doing something about it. Blogger Arianna Huffington, designer Donna Karan and Sarah Brown, wife of former U.K. Prime Minister Gordon Brown, have teamed up with i/o Ventures to select the most promising female technology entrepreneur.

The winner of the WIE (Women, Inspiration & Enterprise) Prize will receive up to a $25,000 investment in her company; 4 months of free office space at i/o Ventures headquarters in San Francisco; and mentoring from i/o Ventures founders Aber Whitcomb, a co-founder of MySpace; Ashwin Navan, co-founder of BitTorrent; Jim Young, co-founder of; and Paul Bragiel, co-founder of Lefora.

The award will be presented at the WIE Symposium in New York City in September.

“We believe that female entrepreneurs are under-served 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 in announcing the award.

But hurry—the deadline to apply is September 10. Get details at the WIE site and enter here.