Access up to $200K for Female-Founded Startups in Queensland
The Queensland Government is supporting entrepreneurship and innovation with a new grant for female founders. The Female Founders Co-Investment Fund (FFCIF) provides matched funding between $50,000 – $200,000 for women-led startups undertaking early stage capital raising.
If you lead a female-founded Queensland startup, keep reading to learn how you could leverage this new grant opportunity.
Overview of the Female Founders Co-Investment Fund Grant
The Female Founders Co-Investment Fund is a new pilot grant program from the Queensland Government aimed at helping women entrepreneurs grow innovative businesses across the state.
Here are the key features of this grant opportunity:
- Up to $200,000 in matched funding for female-led businesses raising early stage capital
- Must match government funding 3:1 with investment from eligible angel or VC investors
- For pre-seed or seed stage raises
- Open to female founders with less than $500K in prior raises/funding
- Funding to help scale and build business capacity over 12 months
By co-investing alongside proven investors, this grant enables female founders to leverage additional capital to accelerate their startup’s growth and momentum.
Grant Eligibility Criteria
To qualify for the Female Founders Co-Investment Fund, your startup must meet the following eligibility criteria:
- Headquarters located in Queensland
- Registered and operating in Australia
- 100% female founded at incorporation
- Over 50% female ownership
- Fewer than 50 full-time equivalent employees
- Undertaking a new pre-seed or seed raise round
- Supported by an eligible lead investor
How the Grant Supports Innovation
Providing Crucial Early Stage Capital
The Female Founders Co-Investment Fund takes a multi-faceted approach to actively supporting innovation within the startup ecosystem. First, it provides crucial capital for early stage companies to develop and commercialise new products, services or technologies. The funding allows founders to focus on innovation rather than just survival. By requiring matches from eligible angel or VC investors, the grant also encourages greater private sector involvement in backing innovative startups.
Industry Agnostic Approach
Another key way the Fund nurtures innovation is through its industry agnostic approach – startups from any sector can apply and benefit. This lets innovative ideas across diverse fields rather than concentrating in a few pre-selected verticals.
Targeting Pre-Seed and Seed Stage Companies
The grant specifically targets pre-seed and seed stage companies when innovation is often highest as startups work to find product-market fit and market traction.
How to Apply
Applications for the Female Founders Co-Investment Fund are open now until all funding has been allocated. Given the competitive nature, it’s advised to apply as soon as possible.
The process involves:
- Submitting an application demonstrating you meet all the eligibility criteria
- Securing support from your lead investment entity
- Preparing your startup’s growth plan, financials, and other documents
- Waiting for provisional approval of your grant funding
- Legally completing your investment raise within 120 days
- Receiving the matched government grant after the raise is finalised
Leverage This Opportunity for Your Female-Founded Startup
If you’re a female founder in Queensland raising early stage capital, be sure to explore this opportunity to accelerate your startup’s growth. Queensland is fostering a strong innovation ecosystem for women entrepreneurs.
With a success rate consistently above industry averages, NOAH Connect helps innovative companies get ideas out of the lab and into the market.
Get in touch today for an obligation-free eligibility assessment and funding strategy session.
Click here to learn about what other government grant funding is available!
