- Eleven organisations will share in more than $2 million in funding through the Miles Government's Accelerating Female Founders Program to support Queensland's female entrepreneurs
- The organisations will provide vital business development support to more than 530 female founders
- Two female-led businesses will also share in more than $350,000 in funding support through the Female Founders Co-Investment Fund
The Miles Government is providing more than $2 million in funding to 11 leading education and industry organisations to help innovative Queensland women launch or grow their innovation-driven businesses.
Funded through the government's Advance Queensland Accelerating Female Founders Program, the 11 organisations will provide more than 530 female founders with the necessary skills and connections they need to soar.
The organisations will deliver a range of business development programs, such as mentoring and advocacy support or customised activities, to help female founders to overcome some of the key challenges they face as women business owners.
Initiatives to receive funding include Farmers2Founders Pty Ltd's TEKWOMEN QLD initiative, which will help female-led agtech enterprises to take their businesses to the next level and the Gold Coast's Indigenous Innovation Ventures' Ampli-FI initiative, which will partner with Bond University to help First Nations female founders to scale their established innovative business venture.
The Miles Government is also supporting two female-founded and led businesses that are ready to approach new investors as part of their early-stage capital raising process through the Female Founders Co-Investment Fund.
Ochre Sun, led by First Nations founder Alana Kennedy, will receive more than $150,000 to support the growth of its innovative skincare business that uses sustainably and ethically sourced native ingredients, while Luxe.It.Fwd will receive $200,000 to support the growth of its custom-built sustainably driven circular fashion re-commerce platform that provides consumers with more affordable pre-loved goods and reduces waste in the fashion industry.
The Accelerating Female Founders Program and Female Founders Co-Investment Fund are part of Advance Queensland's Backing Female Founders Program. There have been more than 2000 participants who have benefited from the Advance Queensland female founders programs dating back to 2017.
As stated by the Minister for Science and Innovation, Leanne Linard:
"The Miles Government is committed to building a well-connected, inclusive and thriving innovation ecosystem and this cannot be achieved without women.
"Female entrepreneurs are the fastest growing group of entrepreneurs worldwide and it makes me incredibly proud to see Queensland-based female founders going from strength to strength thanks to their ingenuity and our nation-leading Backing Female Founders Program.
"Startups are a key component of a vibrant economy, but only 22 percent of Australian startups are founded by women – this represents a major opportunity to significantly grow our economy.
"A recent report found that increasing the number of female business owners to equal that of male business owners could add up to $135 billion to Australia's economy.
"We are proud to support Queensland women who are working hard to build new and innovative businesses using emerging technologies and disrupting traditional industries."
As stated by Indigenous Innovation Ventures Chief Operating Officer, Yohann Azlee:
"The target cohort for our business support initiative are specifically Indigenous female entrepreneurs who have moved beyond the startup phases and are poised for the next level of growth in their business ventures.
"These are women who have established businesses and are now facing the unique challenges that come with scaling operations, expanding market reach, and increasing revenue.
"They have demonstrated resilience and innovation in the early stages of their entrepreneurial journey and are now seeking structured guidance and support to navigate the complexities of scaling up.
"It is tough enough for women entrepreneurs, but even tougher for First Nation's women entrepreneurs.
"Our program is designed to empower Indigenous female entrepreneurs through a country-centred 'experiential learning' approach, blending Indigenous protocols and knowledge with business skills to tackle their unique business and community challenges."
