SBE's New Funding + A New Program in the Making

SBE's New Funding + A New Program in the Making

I am super excited to announce that we have been awarded a $250k grant from LaunchVic to develop and run a new pre accelerator program for female founders across Victoria. 

I strongly believe that this, more than ever, is the time for female entrepreneurs to step up, back themselves and create sustainable businesses that will drive our future economy. 

In a recent article by Forbes it was highlighted that for every dollar invested, startups with female founders made 78 cents while male-founded startups generated less than half, just 31 cents.* 

It is well documented that when women generate income they contribute most of it back into their communities. When more women work, economies grow.** 

SBE is primely positioned to accelerate women to achieve this economic contribution.

In her Press Release about this funding, the Minister for Innovation, Medical Research and the Digital Economy Jaala Pulford stated, “We’re supporting our next generation of startup founders to have a go, because we know young companies will create high-value jobs for Victorians.” 

“Supporting people to start new tech companies has never been more important – the number of jobs in startups was growing before the pandemic and the rate of that growth is now set to accelerate rapidly.”

Further supported by LaunchVic chief executive Dr Kate Cornick “Successful startups are job multipliers. For every tech job they create, they create an additional five jobs in non-technical

areas. Understanding this will help provide an alternative pathway to build our future economy.”

At the roundtable this week with the successful recipients of this grant Kate made a very strong parallel. This post COVID-19 era with that of London and the UK at the time of the Global Financial Crisis (GFC). Where out of necessity ex employees of financial institutions starting FinTech companies. London is now of course a global fin tech hub having amassed billions of pounds in collective value from the startups that emerged as a result of the GFC.  

This is an exciting time for our ecosystem and I am really looking forward to working with the other successful grant recipients. Namely, Atto Accelerator, Latrobe City Council-Startup Gippsland, Australian Sports Technologies Network (ASTN), University of Melbourne’s Melbourne Accelerator Program (MAP) and Roshambo. 

Our program will be a hybrid online program with the first and last week as in person sessions (when possible) and the six sessions in between being virtual. This format allows us to reach all corners of Victoria. 

All females need to have, to apply, is an idea and a vision to grow a sustainable and potentially scalable business.

We will leverage our 200 plus alumnae network plus our community of industry experts and investors to ensure the smartest start to these new ventures.


The program gives female founders:

  • The skills they need to test their idea’s theory and whether it’s got the market viability for success. 
  • The confidence to think of themselves as a founder and to know what their idea needs to make it a success.
  • Strategic tools to set relevant goals, set up a company, overcome early obstacles, create a minimum viable product (MVP) and acquire customers.
  • The learnings to allow them to build out comprehensive business and financial models.

 

If you know a female with a great idea or are interested in applying yourself please reach out to our Program Coordinator Libby  libby@sbeaustralia.org.


*https://www.forbes.com/sites/victoriacollins/2020/07/17/why-we-need-to-do-more-to-fund-female-founders-boosting-our-economic-recovery/#6f2f851045ed


**https://www.unwomen.org/en/what-we-do/economic-empowerment/facts-and-figures