Women-led start-ups are getting a boost with the $18 million Boosting Female Founders Initiative.
Designed to encourage women’s entrepreneurial streak, the program is part of the federal government’s Women’s Economic Security Statement.
“We want to give businesses led by women the best opportunity to succeed so that they can strengthen their financial security and boost the Australian economy,” said Minister for Industry, Science and Technology, Karen Andrews.
The program is currently being designed by the federal government and is seeking feedback and insights from industry as a whole. Consultations are open throughout September, until October 4.
“This program will help start-ups founded by women to access early stage capital and overcome barriers needed to get their ideas off the ground and go global,” said Andrews.
Ultimately, the program will offer grants for three years from 2020, on a co-contribution basis. Recipients of the program will include innovators across all of Australia, according to Andrews.
“It will also ensure the entrepreneurial needs of diverse groups are served, including female entrepreneurs in regional areas who don’t have the same support as those in our urban centres.”