A total of $6 million has been made available for Round One of the federal government’s Boosting Female Founders (BFF) program.
The BFF program, which was first announced in 2018, is intended to help female founders access early stage capital for start-up businesses. Grants of $25,000 to $400,000 will be provided to selected applicants on a co-contribution basis. The $18 million program will run over three years, from 2020-21 to 2022-23.
The federal Department of Industry opened expressions of interest for the grants on 20 March.
All female founders are encouraged to apply, including those from underrepresented groups such as those in regional or remote areas, who have a disability, operators of Indigenous businesses, first generation migrants and/or refugees.
Launching the program, minister for industry and science Karen Andrews said: “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.
“Greater access to early stage capital for female entrepreneurs will help them to grow their start-ups and expand into domestic and global markets.”
To qualify for the grants, businesses must be majority-owned and led by women.
A total of $6 million has been made available for Round One of the federal government’s Boosting Female Founders (BFF) program.
The BFF program, which was first announced in 2018, is intended to help female founders access early stage capital for start-up businesses. Grants of $25,000 to $400,000 will be provided to selected applicants on a co-contribution basis. The $18 million program will run over three years, from 2020-21 to 2022-23.
The federal Department of Industry opened expressions of interest for the grants on 20 March.
All female founders are encouraged to apply, including those from underrepresented groups such as those in regional or remote areas, who have a disability, operators of Indigenous businesses, first generation migrants and/or refugees.
Launching the program, minister for industry and science Karen Andrews said: “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.
“Greater access to early stage capital for female entrepreneurs will help them to grow their start-ups and expand into domestic and global markets.”
To qualify for the grants, businesses must be majority-owned and led by women.