Deadline: 2-Jun-22
The Australian Government has launched the applications for the Boosting Female Founders Initiative Round 3 to help women entrepreneurs overcome the disadvantages faced in getting access to finance and support to grow their startups.
This program will provide targeted support on a co-contribution basis to female founders of startup businesses to scale into domestic and global markets. The program will also offer expert mentoring and advice to a select number of eligible applicants.
Objectives
The objectives of the program are to:
- stimulate private sector investments into innovative startups led by women
- help women entrepreneurs overcome barriers to accessing the finance and support necessary to scale their startups
- enable female founders to scale-up, expand into domestic and/or global markets, and become self-sufficient
- boost the economy through increasing the diversity of startup founders.
Funding Information
- The grant amount will be up to 50 per cent of the total eligible project expenditure (grant percentage), and
- the minimum grant is $100,000
- the maximum grant is $400,000
- Grants for priority groups will be up to 70 per cent of the total eligible project expenditure, and
- the minimum grant is $100,000
- the maximum grant is $480,000.
Duration
- The maximum project period is 24 months.
Outcomes
The intended outcomes of the program are:
- increased number of startups founded and sustained by women
- new products and services are brought to market by startups founded by women
- increased financial investment in startups founded by women
- women improve their earning potential through entrepreneurship
- facilitate mentor relationships to support entrepreneurial development
- increased job creation and economic growth.
Eligibility Criteria
- To be eligible you must:
- be a startup that is scalable as defined in the Grant Opportunity Guidelines
- be a female founded startup that is at least 51 per cent owned and led by women, as defined in the grant opportunity guidelines
- have a combined annual turnover of less than $20 million for each of the three financial years prior to the lodgement of the application.
- You must also have active Australian Business Number (ABN) and be one of the following entities:
- an entity incorporated in Australia
- a partnership
- a sole trader
- trust or trustee.
For more information, visit https://business.gov.au/grants-and-programs/boosting-female-founders-initiative-round-3