The South Australian government announced at the recent _SOUTHSTART conference a new grants program catering specifically to innovative, female-founded businesses.
The Fearless Innovator Grants Program is an initiative of the South Australian government as part of its commitment to build a more complex, productive, and high-value economy while providing support towards South Australian women-led start-up businesses.
The State Government has committed $110,000 from the Research and Innovation Fund to support Women in Innovation (WINN) to facilitate this two-year pilot program in partnership with the Fearless Females Network (FFN).
“Each start-up businesses – as defined by their high growth and global outlook – has the potential to be transformative for the South Australian economy,” Susan Close, Deputy Premier and State Minister for Industry, Innovation and Science (pictured), said. “Many of these innovative businesses are also having significant positive impact on their customers and communities – whether that be a new medical device with improved health outcomes for patients, software to predict and mitigate the impacts of climate change, or technology that helps a business operate more efficiently and achieve higher profits. All these outcomes – and more – are being achieved right now, right across South Australia’s startup and innovation community.”
Andrea Michaels, State Minister for Small and Family Business, said that The Malinauskas Government is committed to supporting female business owners to overcome barriers.
“That’s what the Women in Business program, which has already benefited more than 1000 South Australian women, is all about,” Minister Michaels said. “This latest initiative will directly tackle inequitable access to funding for female-led start-ups with just 26 per cent of funding for start-ups going to women-led businesses in 2023. Small businesses are the heart of South Australia’s economy contributing $49 billion each year and ensuring equitable access to capital is a strategic move to boost our state’s economy for the future.”
Paula Turbill, President, Women in Innovation (WINN) commented, “As International Women’s Day approaches with the theme ‘Count Her In: Invest in Women. Accelerate Progress’, Women in Innovation (WINN) is thrilled to announce a groundbreaking partnership with Fearless Females and the South Australian Government to launch the Fearless Innovator Grant Program. This unique funding initiative aims to address the gender gap in startup funding by providing tailored support and capital to female founders in South Australia. Aligning this program with the Women In Innovation Awards is a great way to continue supporting South Australia’s female-founded start-ups further along their journey and achieve even more success.”
And Kelly Baker Jamieson of Fearless Females said, “The Fearless Innovator Grants will help female-founded businesses early in their journey to support their success. To move the female funding results in a positive direction, this program is a step forward to provide much-needed capital, confidence and connections.”
Applications for the Fearless Innovator Grants Program will open in June 2024, with grants to be awarded to the successful early-stage businesses at the annual WINN Awards in November 2024 and 2025.
