NEW YORK: Launched in 2006 by Cartier and the Women's Forum in partnership with McKinsey and INSEAD management school, the Cartier Women's Initiative Awards are an annual international recognition for innovative female entrepreneurs.Five promising entrepreneurs received the Cartier Women's Initiative Awards for the first time in October 2007.

After a tough competition in two rounds, they were selected among 15 Finalists for the creativity, sustainability and impact of their projects. The prize includes coaching support for a full year, a US$ 20 000 grant and a subscription to INSEAD's newsletter for entrepreneurship.

Nandini Pandhi and Yasmina McCarty, project GreenMango (India) were selected Laureates for Asia.GreenMango is an online marketplace where low-income entrepreneurs in developing countries can find new customers and grow their businesses.

For Green Mango's innovative social networking concept and its high growth potential. Lucie Avoaka, (Africa), project Santa Maria Medical Centre (Côte d'Ivoire), healthcare provider in the underprivileged region of Abobo.

For the pragmatic approach of the Center and its ambition to include low-income patients while building a sustainable business. Bettina Götzenberger (Europe), project LOmasLEGAL (Spain), low-cost legal services available from high-street stores, over the phone, and internet for successfully applying the low-cost concept to an important social awareness mission.

Antonia Sanin (Latin America), project  The Globe (Colombia), day-care center for children aged 3 to 6 which offers educational products and services developed from the experiences learned at the centre (workshops, manuals, blog…).

For the educational mission of the Globe and the creativity of its multimedia products. Angel Chang (North America) , project Angel Chang LLC (USA), luxury apparel with "performance" elements and functional designs: special stain-proof, wrinkle-free and odor-free material, color-changing silkscreen prints, 3-D optical illusion prints, fiber optics etc.

For the futuristic approach of the line, the understanding of women's changing needs. The Awards Ceremony was held at the annual Women's Forum for the Economy and Society in Deauville, France.