Female Founders Co-Investment Fund

Female-Founders-Co-Investment-Fund

Boost your female-led business with up to $200K funding.

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What is the Female Founders Co-Investment Fund?

The Female Founders Co-Investment Fund (FFCIF) is an innovative program by the Queensland Government designed to support female-founded businesses in Queensland. It offers grants ranging from $50,000 to $200,000, with a matching ratio of 3:1 for investments secured over a 12-month period. This fund is aimed at businesses undertaking new pre-seed or seed capital raises.

 

Background

The Female Founders Co-Investment Fund was established as part of the Queensland Government’s Advance Queensland – Innovation for a Future Economy 2022-2032 Roadmap. Its purpose is to assist female entrepreneurs in securing their initial professional investment round with Government backing, thereby fostering the growth of innovative businesses led by Queensland female founders across various industries.

 

Objectives

The objectives of the FFCIF are to:

  • Support Queensland female founders in securing their initial professional investment round with Government backing.
  • Aid the growth of innovative businesses led by Queensland female founders across various industries.
  • Increase the participation of female founders in the Queensland innovation ecosystem.
  • Foster the development of an investment pipeline for female-founded businesses.

 

Eligible Entities

Eligible entities for the Female Founders Co-Investment Fund are:

  • Queensland-based businesses with an Australian Business Number (ABN) and registered for GST.
  • 100% female-founded with more than 50% female ownership.
  • Having fewer than 50 full-time equivalent employees.
  • Not a subsidiary of a group of companies with more than 50 employees.
  • Not having received more than $500,000 in previous capital raises, grant funding, or accelerators.
  • Currently undertaking eligible pre-seed/seed investment from an approved investor.

 

Eligible Expenditure

The eligible expenditure for the FFCIF includes costs related to:

  • Hiring staff.
  • Marketing and promotion.
  • Securing new customers.
  • Expanding to new markets.
  • Expanding production and delivery.
  • Professional services.

The funding is intended to be spent in Queensland or through suppliers based in the state.

 

Timing

Applications for the Female Founders Co-Investment Fund are accepted at any time and will remain open until all funds have been allocated.

This grant offers a fantastic opportunity for female entrepreneurs in Queensland to scale their businesses and make a substantial impact in their respective industries. For more detailed information, you can visit the Queensland Government website and business.gov.au.

 

Track Record – Ovira

Bulletpoint assisted Ovira to secure $400,000 from Round 1 of the Boosting Female Founders Initiative Round.

Ovira was founded by Alice Williams, a 27-year old endometriosis sufferer who was inspired to create the new device after years of searching for a pain-management option for her own endometriosis. When she couldn’t find a solution that was drug-free or didn’t involve invasive procedures, she looked for an alternative.

Her fledgling company Ovira has just raised $1.5 million from Blackbird Ventures, to help establish its small egg-shaped electrotherapy device in the market, after promising early sales.

Track Record – Airrobe

Bulletpoint assisted Airrobe to secure $396,050 from Round 2 of the Boosting Female Founders Initiative Round. AirRobe’s Circular Wardrobe is solving the problem of textile waste by allowing fashion brands to offer their customers a simple way to repurpose their items. The project is building a unique application which captures product data (images, sizing and descriptions) at the time that consumers make a brand new purchase. This enables consumers to return to the application at any time and re-sell, recycle or upcycle their used-fashion in one-click.

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