$40 million Investment Boost for Women’s Startups
MB+M Business Services brings you another article: $40 million Investment Boost for Women’s Startups
Women in the startup sector are a step closer to having their business dreams realised, with applications opening for a new fund which will drive early stage investment.
The Andrews Labor Government’s Alice Anderson Fund will co-invest $10 million in early stage capital for up to 60 women-led startups.
With every dollar of Government funding to be matched by three dollars of private investment, the Fund could unlock up to $40 million to drive early stage startups. Led by startup agency LaunchVic, the Fund will see the Government co-invest between $50,000 and $300,000 for new businesses.
The initiative will help women-led business overcome funding hurdles – a 2019 study revealed only 19 of 104 Victorian startups that received angel or venture capitalist investment had a woman as founder.
The Fund is open to local and international angel networks, early stage venture capitalists focused on seed investments, family offices and individuals.
Nominated startups for co-investment must be 50 percent owned by at least one woman, or have a 30 percent ownership stake by women, including one woman in an executive role. If there is a board, it must have a representation of at least 30 percent women.
The Fund is named in honour of Alice Anderson, a pioneering Victorian mechanic and entrepreneur who founded Australia’s first all-women motor garage in Kew in 1919.
Startups and Investors can view the application guidelines and apply to the fund by visiting the Launchvic.
The MB+M Business Services team has extensive experience in helping clients with business Startups and Funding. If you have questions, or looking for some help, then call MB+M on 03 5821 9177 and speak to an experienced Business Advisor.
- Business Victoria: Grants & Programs
Visit Our Insights Page For More Helpful Article