SheEO the global women’s organisation that provides funding to female founders has called for Australia’s female entrepreneurs to apply for its 2020 Venture Funding program.
“If your business has over 50K in revenue and your organisation is majority female-owned then you can apply for a share of $500,000,” said SheEO Activator Monica Bradley.
Previous SheEO funded ventures from the US and Canada, Australia and New Zealand have launched products as diverse as edible, hyper compostable bioplastics, a microfluidic device that makes drug discovery twice as fast: and, a platform that transforms the way to plan, design and manage neighbourhoods.
Every year SheEO provides selected founders with an interest-free loan of up to $100,000 repaid over 5-years. The capital is provided by SheEO’s 4,000 global members, known as ‘Activators.’
The female-led businesses are selected based on their answers to 5 simple questions that focus, in part, on an entrepreneur’s commitment to creating a better world through their business venture.
Less than 3% of the world’s venture capital is invested in female founders, despite data that demonstrates that women are much more likely to succeed than men.
“In the 5-years since SheEO was established we have never had any of the 53 globally-funded ventures fail,” said Bradley. “They’ve never even failed to meet a quarterly repayment. And, globally these ventures have raised over $100m and created hundreds of meaningful jobs.”
She said the founders are taught to ask for what they need from the Activator community.
“Whether its introductions to customers, social media support, assistance with capital raising, talent recruitment or go-to-market strategies – there’s a network of 4000 women around the world ready to help or just offer advice.”