Australia: Boosting Female Founders Initiative – Round 1
Deadline: 14 April 2020
The Boosting Female Founders Initiative Round 1 provides female founders of startup businesses with funding to launch and scale their businesses into domestic and global markets. It will help female entrepreneurs overcome the disadvantages they face in getting access to finance and support, to grow their startups. Targeted support will be on a co-contribution basis.
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The Boosting Female Founders Initiative (the program) will run over three years from 2020-21 to 2022-23. The program is part of the Women’s Economic Security Package, which helps to support more Australian women into work and supports Australia’s international obligations under the Convention on the Elimination of all forms of Discrimination against Women (CEDAW). The program will provide targeted support on a co-contribution basis to female founders of startup businesses (startups) to launch and scale their businesses into domestic and global markets.
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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
Efemale founders to scale-up, expand into domestic and global markets, and become self-sufficient
Boost the economy through increasing the diversity of startup founders.
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The intended outcomes of the program are:
Increased number of startups founded 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
Increased job creation and economic growth.
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To be eligible your project must:
Support and grow your female founded startup
Support your female founded startup to launch and scale into domestic and global markets
Have at least $50,000 in eligible project expenditure
Funding and Project Period Information
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The Australian Government has announced a total of $18 million. For this round, $6 million is available.
The grants will be available on a co-contribution basis, in two tiers as follows:
Tier one – $25,000 to $100,000 ($140,000 if you meet additional requirements)
Tier two – $100,001 to $400,000 ($480,000 if you meet additional requirements)
The maximum project period is up to:
12 months (tier one)
24 months (tier two).
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To be eligible you 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:
an entity incorporated in Australia
an incorporated trustee on behalf of a trust
an Aboriginal and Torres Strait Islander Corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth)
a sole trader.
Who is not eligible?
You are not eligible to apply if you are:
any organisation not included in eligibility criteria
income tax exempt
an unincorporated association
a trust (however, an incorporated trustee may apply on behalf of a trust)
a Commonwealth, State, Territory or local government body (including government business enterprises)
For more information, visit https://www.business.gov.au/Grants-and-Programs/Boosting-Female-Founders