Despite the inroads female business founders have made in recent years, a new report has highlighted the significant challenges they still face.
The recent ‘Cut Through Venture’s Q3 2024’ report found that only four per cent of the total capital raised in Australia went to female-only founded businesses, and just 13 per cent to female co-founded ventures.
Aside from the funding gap, female founders also face a lack of access to the resources, contacts, and networks crucial for business growth. In particular, female founders have sought connections to advisory boards, introductions to retail and stockists, strategic partnerships, research and development assistance, industry-specific connections, and collaborations.
In the midst of these ongoing challenges, Megan Del Borrello, Founder of We are Emersyn, an organisation that aims to empower female founders, sought to create a platform that aims to bridge the funding gap and connect female founders to support services, as well as access to mentors, advisors and access to industry experts and connections.
Del Borrello believes that this platform can help accelerate the growth of female-founded businesses and create more jobs that can stimulate Australia’s economy.
“Recognising that access to capital is just on piece of business growth, the pitch night initiative aimed to build community, foster connections, and celebrate the incredible innovation driven by women in the Western Australian innovation and tech space. The initiative was designed to address those challenges by connecting founders with business leaders, funders and supporters who are eager to provide these essential resources”. said Del Borrello.
The program is now on its second year, with the City of Perth sponsoring the initiative as part of the city’s Economic Development Sponsorship Program.
