This paper contributes to the wider efforts of policy makers, experts and practitioners to maximise the contribution of women into the national, regional and global economic growth and competitiveness in the countries neighbouring the European Union (EU). It focuses on actions that can support women's participation in entrepreneurship. The paper reviews available international evidence on the potential benefits that targeted policies and support measures can bring to both national economies and women themselves. Further, the paper analyses obstacles and policy bottlenecks preventing broad participation of women in business venture creation. It makes its point regarding an imperative role of entrepreneurship as a vital career and employment choice for women, as well as a pivotal policy priority both in the EU neighbourhood and in the EU countries. Finally, the paper emphasises the fundamental importance of human capital as the main entry point into designing policies conducive to women's employment and entrepreneurship, and reviews both existing and recommended policies and actions promoting women's entrepreneurship training and support. Thus, the paper aims at setting up a frame for European Training Foundation's (ETF's) work around its core functions in conveying EU external relations' policies, promotion of capacity for evidence-based policy making, policy analysis and evaluation in the EU partner regions, as well as boosting social partnership, networking and peer learning around their human capital development strategies. The paper builds on ETF's experience of support to women's entrepreneurship alongside its broader activity facilitating development of entrepreneurship in the partner countries. Joint institutional engagements with the European Commission, the Organisation for Economic Co-operation and Development (OECD) and the European Bank for Reconstruction and Development (EBRD) in the implementation of policy assessments under the Small Business Act (SBA) for Europe in 23 countries of the South Eastern Europe and Turkey (SEET) region, Eastern Partnership countries and the Southern and Eastern Mediterranean (SEMED) region provided the ETF with a unique overview of the current state of play on the entrepreneurial side of the partner economies and have become the foundation for closer partnership on enterprise skills development and promotion of lifelong entrepreneurial learning. The ETF has also supported women's entrepreneurship through career guidance and gender mainstreaming in the SEMED region and implemented analyses of education, training and employment policies and practice for women under the 'Women and Work' project. (A list of notes and bibliographic references is included.)