What is the Scholarships for Women in Finance and Economics: Administration Service?
The Scholarships for Women in Finance and Economics: Administration Service is a grant opportunity for an organisation(s) (or consortia) to administer and manage the delivery of Scholarships for Women in Finance and Economics (the scholarships) across Australia.
Objectives
The objective of the Scholarships for Women in Finance and Economics: Administration Service is to encourage more women to study accounting, business, finance and economics, or to renew, upskill or refresh their skills in these areas. This will assist more women to enter, re-enter and achieve leadership roles in the economics and financial services industry.
In particular, the program will focus on supporting more women from disadvantaged backgrounds studying economics and related fields. This should include, but not be limited to, women who:
- are re-entering the workforce
- have low socio economic status
- are mature age or young
- are Aboriginal and Torres Strait Islander
- are new migrants
- are living in rural and remote areas.
The intended outcome of the program is to create a talent pool and pipeline to increase numbers of women in careers in accounting, finance and economics, or aspiring to leadership roles in the economic and financial services industry.
Funding
The Australian Government has announced funding for $1.5 million GST exclusive in Scholarships for Women in the Finance and Economics sectors, and $150,000 GST exclusive for the administration service component.
The grant opportunity will run from 29 October 2020 to 17 November 2020.
Under this grant opportunity, there is approximately:
- $750,000 GST exclusive in funding available for scholarships and $75,000 GST exclusive for administration during 2020–21
- $750,000 GST exclusive in funding available for scholarships and $75,000 GST exclusive for administration during 2021–22.
Funding for scholarships is to be distributed to organisations to deliver education and training for suitable candidates or directly to recipients.
The administration service provided by the successful applicant(s) is expected to run from April 2021 to 30 June 2023. Scholarships of up to $50,000 can be awarded between April 2021 and 30 June 2022.
Eligible Projects
The organisation(s) will identify and select suitable candidates and distribute $1.5 million GST exclusive in funding for scholarships. The organisation(s) will distribute funding to educational and/or other institutions that provide formal education, career development programs, internship opportunities or other work experience opportunities.
Funding can be also directly distributed to a scholarship recipient for costs directly associated with their chosen opportunity, in limited circumstances (for example, where a travel bursary is desired). A scholarship recipient is not eligible for reimbursement from their employer.
The organisation(s) must award scholarships to women who, for the duration of the scholarship, meet all of the following criteria:
- a new student – i.e. not currently studying economics or finance
- an Australian citizen
- able to demonstrate financial need
- intending to upskill or refresh their skills in finance and economics to help them enter, re-enter and achieve leadership roles in these industries
- intending to undertake one of the following activities:
- formal education
- career development programs
- internship opportunities
- other work experience programs.
An additional focus should be on applicants demonstrating intersecting sources of disadvantage, including but not limited to:
- are re-entering the workforce
- have low socio economic status
- are mature age or young
- are Aboriginal and Torres Strait Islander
- are new migrants
- are living in rural and remote areas.
Eligible expenditure items for the $150,000 GST exclusive to administer the scholarships are:
- marketing, promotional and administration costs
- selection process costs
- project costs
- the development of resources
- research
- staff salaries
- materials directly related to the implementation of the project
- travel within Australia directly and specifically related to the project
- services outlined in the agreed grant agreement.
Eligible Applicants
To be eligible you must be one of the following entity types:
- Indigenous Corporation
- Company
- Cooperative
- Incorporated Association.
If you are applying as a Trustee on behalf of a Trust, the Trustee must have an eligible entity type as listed above.
Applications from consortia are strongly preferred, as long as you have a lead applicant who is solely accountable to the Commonwealth for the delivery of grant activities and is an eligible entity as per the list above. Eligible organisations can form a consortia with ineligible organisations.
Timing
Applications close 17 November 2020.
