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Round 2 Has Just Opened for the ‘Boosting Female Founders Initiative’
The Boosting Female Founders Initiative Round 2 has just opened up with a closing date of 22 April 2021! The Boosting Female Founders Initiative is just as it sounds – a grant initiative for female founders looking to scale their startups into domestic and global markets. So does your business qualify and, if yes, what’s involved in applying? Read below to see if you might be eligible and what could be available.
First and foremost, to be eligible you must be:
A female founded (majority owned and led by women) startup, that is:
A startup that is at least 51% owned and led by women (as per the Australian Business Register (ABR) and Australian Securities and Investments Commission (ASIC) and/or organisational records).
You must also hold an ABN and be one of the following entities:
- Incorporated in Australia
- A partnership
- A sole trader
Grants between $25,000 and $400,000 are available, with grants up to $480,000 available if you meet special eligibility criteria. Grants will be given on a co-contribution basis with the grant amount being up to 50% of eligible project costs. Also available through the initiative is expert mentoring and advice – a fantastic offering for any business owner looking to expand.
(This is where working with a trusted consultant can make all the difference to your application.)
Expression of Interest
You first must apply via an Expression of Interest (EOI) (found online at business.gov.au).
To be successful here, you must show how the grant will help your business expand into domestic and global markets, with an emphasis on how funding will remove barriers to your startup growth and how you are ready to take your product or service to market.
If you are successful at the EOI stage, you will be invited to Stage Two where you must provide more detailed evidence of your capability, capacity and resources to scale your business. This includes producing polished documentation, such as:
- evidence to support your source of funding
- a pitch deck supporting your response to the assessment criteria
- business financial documents
- a business plan
- a trust deed (where applicable).
How We Can Help
At Noah Connect, we can help you with both stages of the Boosting Female Founders application. As a female founded and run company, we’re passionate about helping other female founders achieve their dreams for business expansion. We’ve also had 17 years of experience helping companies through the initial steps of grant selection, to application review, business documentation and beyond. If you’re interested in applying for the Boosting Female Founders application before 22 April 2021, contact our expert team today