$18m government fund for female founders

Minister for Industry, Science and Technology Karen Andrews said she wanted to hear as many voices as possible to finalise the $18 million Boosting Female Founders Initiative, announced as part of the 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,” Minister Andrews said.

“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.

“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 urban centres.”

Minister for Foreign Affairs and Minister for Women, Senator Marise Payne noted the Morrison Government’s commitment to improving women’s economic security and workforce participation.

“Women’s full-time employment and female workforce participation have reached record highs under our government, the gap between the superannuation balances of women and men is closing, and we now have the lowest gender pay gap on record.

“Through initiatives like the Boosting Female Founders Initiative, we are delivering greater choice and more opportunities for Australian women, including by helping women establish their own businesses,” Minister Payne said.

Consultations will be held from September-October 4 with the scheme to be launched in 2020. 

Grants will be available over three years from 2020 on a co-contribution basis.Details providing feedback on the discussion paper are available at consult.industry.gov.au/science-commercialisation/bff-design