The Female Founders Co-Investment Fund aims to support eligible innovation driven enterprises (IDEs) founded and led by women to secure new early-stage investment through a capital raise, and will:
The fund is best suited for businesses planning to use the sale of shares through a new capital raise and who understand the responsibilities and legal requirements of equity funding.
ELIGIBILITY CRITERIA
- To be eligible for funding, organisations must:
- Be a business headquartered in Queensland (operating and having its head office located in Queensland)
- Have an active ABN and be registered for GST
- Be majority female owned: have at least 51% of shares held by a woman/women (at least six months before application)
- Female led: have at least one primary executive decision-making position held by a woman (at least six months before application) e.g. Chief Executive Officer, Chief Operating Officer, Chief Technology Officer
- Have no more than 50 full-time-equivalent employees
- Not be a subsidiary of a group of companies that has more than 50 full-time-equivalent employees in total
- Not have received investment through previous capital raises totalling more than $500,000.
- The organisation should also:
- 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/service beyond proof of concept
- 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.
DEADLINE; 25 November 2024
APPLY NOW; Visit Queensland Government.
