Female Founders Co-Investment Fund

Purpose and Overview of Female Founders Co-Investment Fund

The Female Founders Co-Investment Fund helps Queensland-based female founders secure early-stage investment. This program uses government backing to attract private investment. It supports the growth of innovative businesses across many industries.

The grant aims to increase the number of female founders in Queensland’s innovation ecosystem. It also helps build an investment pipeline for businesses led by women. This addresses the challenge of women-led startups attracting less investment capital than those led by men.

The fund provides grants to support women-founded and led businesses. These businesses must be planning a new capital raise through the sale of shares. They need to understand the responsibilities and legal requirements of equity funding.

Key Grant Details

• Grant amount or funding range: $50,000 to $200,000 (excluding GST).
• Application open and close dates: The program is open until all funds are allocated.
• Eligible industries or business types: Innovation-driven enterprises across a wide range of industries.
• Required co-contributions: Grants are matched at a 1:3 ratio. For a $50,000 grant, the organisation must secure at least $150,000 in external investment.
• Location/state/territory applicability: Businesses headquartered in Queensland.

Priority Sectors

The grant is open to a broad range of sectors.

Funding Scope

The fund provides grants from $50,000 to $200,000. An eligible investment entity matches these amounts. Provisionally approved applicants have 180 calendar days to secure further investment for their nominated raise.

Eligibility Criteria

To be eligible, organisations must:

• Be a business headquartered in Queensland. This means operating and having its head office in Queensland.
• Have an active Australian Business Number (ABN) and be registered for Goods and Services Tax (GST).
• Be majority female-owned. A woman or women must hold at least 51% of the shares for at least six months before applying.
• Be female-led. At least one primary executive decision-making position, such as CEO, COO, or CTO, must be held by a woman for at least six months before applying.
• Have no more than 50 full-time equivalent employees.
• Not be a subsidiary of a group of companies with more than 50 full-time equivalent employees in total.
• Not have received more than $500,000 from previous capital raises.
• Be engaging in or planning an early-stage capital raise from new eligible investment entities.
• Have an investment plan to approach new eligible investment entities within the next six months OR have already secured an offer of investment from an eligible investment entity.
• Have a clear innovation focus.
• Have a product or service that has progressed beyond the proof-of-concept stage.
• Have an established business plan covering the next 12 months.
• Have a clear runway and growth plan for 12 months.
• Plan to use the funding to scale their business.

Please refer to the Female Founders Co-investment Fund Guidelines Section 3—eligibility for full details on investment method and investment entity criteria.

Eligible Activities and Expenses

The funding is designed to help businesses scale. It supports early-stage capital-raising efforts.

Assessment Process

The grant is competitive. Applicants who meet the eligibility criteria will be assessed. Applicants will be notified of the outcome by email within approximately 6-10 weeks. Provisionally approved applicants must secure their investment within 180 calendar days of approval to receive grant funding.

Recent Program Updates

The program is open until all funds have been allocated.

Application Tips

Double-check all eligibility criteria before applying. Prepare key documents in advance, such as your business plan and investment plan. Demonstrate how your project contributes to the grant’s objectives of supporting female founders and fostering innovative businesses. Demonstrate your business’s capability, planned outcomes, and benefits.

Where to Get Help

Consider consulting with a professional grant specialist, such as Pattens Group. We offer initial assessments to review your business’s eligibility and evaluate how well your project aligns with the grant’s objectives. You can also visit Advanced Queensland website for application templates and further guidance.