The Morrison Government is supporting female entrepreneurs to build their businesses, take on global markets and create local jobs, with the opening of a new $11.6 million funding round under the Boosting Female Founders Initiative.
“It was fitting that applications for round two of the in-demand initiative are opening on International Women’s Day,” Minister for Industry, Science and Technology Karen Andrews said.
“Female entrepreneurs are underrepresented in our innovation and technology sectors, often because they face greater obstacles in getting early-stage finance. The first round of the Boosting Female Founders Initiative saw more than 50 female-founded and led businesses share in nearly $12 million to scale up, create new jobs and take on new markets. In the second round, we are providing a further $11.6 million in funding, while also expanding the program to offer expert mentoring and advice for eligible candidates,” Minister Karen said.
“International Women’s Day challenges us to take action for equality. Through the Boosting Female Founders Initiative, we’re helping Aussie female entrepreneurs overcome barriers to success and launch their great ideas onto the world stage,” Minister Karen said.
The Boosting Female Founders Initiative provides grants of between $25,000 and $400,000 to Australian start-up businesses that are majority owned and led by women.
The Initiative was announced as part of the 2018 Women’s Economic Security Statement, and expanded under the 2020 Women’s Economic Security Statement.
In total, it will provide $52.2 million of competitive grant funding plus $1.8 million in mentoring services from 2020–2021 to 2024–25.