- 26 March 2020
- Posted by: Canberra Innovation Network
- Category: General News
Are you a female founder of an early stage innovative startup?
Expressions of interest are currently open for the Boosting Female Founders (BFF) Initiative which aims to help female founders access early stage capital in order to grow their business in domestic and global markets.
The initiative is designed to address some of the challenges experienced by women wanting to take their start-ups to the next level.
“Access to early stage capital is one of the biggest challenges female founders face. Often women only raise half the capital compared to start-ups founded by men and even when they get finance, the terms can be less favourable,” said Karen Andrews, Minister for Industry, Science and Technology.
“Greater access to early stage capital for female entrepreneurs will help them to grow their start-ups and expand into domestic and global markets.”
Competitive grants between $25,000 and $400,000 are available on a co-contribution basis of 50%. Higher grant percentages are available for underrepresented groups such as remote and indigenous businesses, first generation migrants or refugees, and those with a disability.
“The program aims to diversify the Australian start-up landscape, which will promote innovation, job creation and economic growth,” said Minister Andrews.
The Australian Government has dedicated $18 million for the program over three years, with $6 million available in this first round.
If you are seeking funding to launch and scale your businesses into domestic and global markets, visit business.gov.au/BFF. Applications close 14 April.
If you have any questions about the initiative, please contact BFF@industry.gov.au.
Do you want to talk to someone about your startup or innovative business? Book a free 30 minute virtual meeting with one of our startup advisors and see what opportunities are out there for you.