The Australian Government has announced a total of $52.2 million in grant funding for the Boosting Female Founders Initiative. The grant assists female entrepreneurs in launching their startups by providing up to 50% of eligible project costs. Successful female applicants are awarded between $25,000 and $480,000 to assist in scaling their startups. The initiative will also provide mentoring and support to startup founders.
The grant is intended to promote female-led entrepreneurship by breaking down the financial barriers founders face when scaling their startups. It will also enable female founders to expand their offering into domestic and global markets, boosting the economy and expanding the number of job opportunities.
Grant Recipients
So far the Boosting Female Founders Initiative has backed 51 female-led startups from a variety of sectors including: health, education, tourism, software and construction. Arula, Verve Super and Ovira are among the grant recipients.
Grant Eligibility
To qualify for grant funding your startup must be female founded, or majority owned by a female founder. Applicants must possess an Australian Business Number (ABN), and be a business operating as a partnership, a sole trader, or a company incorporated in Australia.
Application
Due to the competitive nature of the grant opportunity, applicants must apply via an Expression of Interest (EOI). If successful, founders will then be invited to submit a grant application for stage two of the process. You can submit your application for round two of the grant through the online portal.
Applications close April 22 at 5pm.
Need Help? Contact Us
At Allied Legal not only do we help startups to source relevant grants, but we assist startups with the grant application process too. If you want to contact one of our startup experts or learn more about how we can help, give us a call on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.
You might also like our article International Women’s Day: Celebrating Female Founders.
