The founder of Matches Fashion and the boss of Severn Trent have been named as the two nominees for the Veuve Clicquot Business Woman Award.
Finalists Ruth Chapman and Liv Garfield were announced today to coincide with International Women's Day.
Christine Hodgson, member of the judging panel and chairman of Capgemini said: "Both women are successful in very different spheres of business. Ruth is a stand-out retail entrepreneur who transformed one retail shop into a global designer fashion platform. Liv is the FTSE 100's youngest female CEO and is an inspiring business leader, with a passion for customer centricity, operational excellence and responsible business."
Finalists were also announced for the fifth incarnation of the Veuve Clicquot New Generation Award. Emily Forbes, founder of community videomaking app Seenit was named alongside Stephanie Alys, the founder of luxury sex toy company MysteryVibe.
Forbes told City A.M. of the challenges facing female startup founders.
"I think one lesson that I've learnt is people ar quick t put you in a box and stereotype you and it's your job to stand up and pull yourself out of the box," she said. "But the right ecosystem is being put in place to attract amazing talent."
The second Veuve Clicquot Social Purpose Award will also feature in the awards this year.
The finalists were named as Amande Nevill CBE of the British Film Institute (BFI) and June O'Sullivan, chief executive of London Early Years Foundation (LEYF).
Speaking to City A.M., O'Sullivan said the newest category was a positive step in taking social businesses seriously
"I often talk about the triple double-glazed ceiling," she said. "The first one is how do you crack business generally, then how to do it as a woman, then as a social entrepreneur. You've got to get through the three of those, and that's why there's not enough of us."