Third sector pioneer Michelle Wright said it was “an honour” to be named Female Entrepreneur of the Year at the 2011 Startups Awards on Friday.

Wright received the highly coveted title in recognition of the ground-breaking work being done by her company, Cause4, which acts as a development and fundraising partner for charities across the UK.

The business was set up in response to the lack of accountability and high fees associated with charity fundraising consultants, and has revolutionised the third sector with its risk-sharing, transparent approach.

Since launching in May 2009 Cause4 has generated more than £3m for its clients, and is currently raising more than £250,000. The company now boasts more than 20 clients, and turnover is forecast to double in year three.

Speaking about the Female Entrepreneur accolade, Wright said: “Cause4 is honoured to be acknowledged as a winner in the Startups Awards amongst a great range of diverse and inspirational businesses. 

“The work of charities and social enterprises has never been so important. What started as a small idea is now flourishing as we seek to provide innovative solutions for charities to their fundraising needs in a tough financial environment.

“Thank you to all at the Startups Awards – it is an honour to be part of this line up.”

This year’s Startups Awards, held at London’s Kensington Roof Gardens on Friday 2 December, recognised pioneering and successful young businesses across a range of industries, from citizen journalism site Blottr to The Cambridge Satchel Company, a phenomenon in the handbag space.

The awards were chosen by a team of globally successful entrepreneurs, including Lara Morgan, founder of Pacific Direct; Piers Linney, creator of Outsourcery; and Mitesh Soma, the man behind Chemist Direct.

Steph Welstead, editor of Startups.co.uk, said: “At a time when government grants are being cut and funding is becoming ever harder to come by, organisations like Cause4 play a vital role.

“The judges were hugely impressed by Michelle Wright’s passion for revolutionising the third sector, her unstinting commitment to Cause4, and her ability to create a business which is ethical, sustainable and profitable, all at the same time.”

The Startups Awards 2011 were organised by Startups.co.uk – the UK’s largest website for people starting and running their own businesses. Startups provides free help and advice to 200,000 new visitors every month. Keep an eye on their site for details of how to enter the 2012 competition.