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Boosting Female Founders Initiative

Overview

This program aims to provide targeted support on a co-contribution basis to female founders of startup businesses (startups) to scale their businesses into domestic and global markets. It forms part of the 2018 and 2020 Women’s Economic Security Statements, which help to support more Australian women into work and Australia’s international obligations under the Convention on the Elimination of all forms of Discrimination against Women (CEDAW).

The objectives of the program are to:
- Stimulate private sector investments into innovative startups led by women.
- Help female entrepreneurs overcome the disadvantages they face in getting access to finance and support to grow their startups.
- Enable female founders to scale-up, expand into domestic and global markets, and become self-sufficient.
- Boost the economy through increasing the diversity of startup founders.

The grant amount will be up to 50% of the total eligible project expenditure (grant percentage), the minimum grant is $25,000 and the maximum grant is $400,000 unless:
- Their head office is located in a regional area.
- Their business is Indigenous-owned.
- At least one of their founding team members (owners and leaders) is a person with a disability.
- At least one of their founding team members (owners and leaders) has migrated to Australia as a refugee or humanitarian entrant.

If any of these apply, the grant amount will be up to 70% of total eligible project expenditure, the minimum grant is $25,000 and the maximum grant is $480,000.

A total funding pool of $52.2 million is available over five years from 2020-21 to 2024-25, of which an estimated $11.6 million is available for this round.

As part of Round 2 of the program, meritorious applicants will also be eligible to receive expert mentoring and advice.

The application is a two-stage process:
- Expression of interest
- Full application (by invitation)

Who Can Apply?

Eligible applicants must:
- Be a female founded (majority owned and led by women) startup.
- Have an Australian Business Number (ABN).
- Be registered for the Goods and Services Tax (GST).
- Be one of the following entities:
a) An entity incorporated in Australia
b) A partnership
c) A sole trader

Please refer to the Guidelines for the list of ineligible applicants.

Eligible Activities

Eligible projects must support your female founded (majority owned and led by women) startup to scale into domestic and/or global markets.

Eligible activities can include, but are not limited to:
- Developing software and apps
- Lunching and scaling products
- Product development and marketing
- Purchase of equipment to enable growth
- Expansion to other markets
- Access to independent management (for example C-suite, advisory board)
- Access to relevant professional development

Please refer to the Guidelines for the complete list of eligible expenditure.

Main Assessment Criteria

The main assessment criteria include:
1. Expression of interest (Stage 1)
- How a grant will help them to scale-up, expand into domestic and global markets, and become self-sufficient. (40 points)
- Their capacity, capability and resources to grow. (30 points)
- The impact of grant funding. (30 points)

2. Grant application (Stage 2)
- How grant funding will help them to overcome disadvantages to scale up, expand into domestic and global markets and become self-sufficient. (40 points)
- Their capacity, capability and resources to deliver the project. (30 points)
- The impact of grant funding. (30 points)

Please refer to the Guidelines for the complete list of the assessment criteria.

  • Start-up
     
  • Research & Development
  • Marketing
     
  • Export
     
  • Business Support
     
Documentation Uploaded
Application Form - Stage Two 2021-03-09 Download
Expression of Interest - Stage One 2021-03-09 Download
Declaration of Business Being Female Owned and Led 2021-03-09 Download
FAQs 2021-03-09 Download
Guidelines 2021-03-09 Download
Sample Grant Agreement 2021-03-09 Download
Contribution Evidence Letter 2021-03-09 Download

Use these documents as a guide only - always get the latest direct from the Administrator

Category
Business