QLD Female Founders Co-investment Fund
- Applications open: ongoing basis
- Grants up to: $200,000
Female-founded firms can grow and develop their organisational capabilities with the aid of this program.
A co-investment fund for female founders is a trial programme designed to boost the number and the amount of investments going to Queensland companies started by women.
The Fund will offer assistance to qualified enterprises to increase money to attract additional investment and build entrepreneurial ability and will:
- Encourage Queensland women entrepreneurs to close their first round of formal investment and leverage government assistance.
- Help Queensland-based women entrepreneurs expand their creative companies across a variety of industries.
- More women should become entrepreneurs taking part in Queensland’s innovation ecosystem.
- Assist in expanding a female investment pipeline founded companies.
What is eligible for funding?
Spending from the female founders co-investment fund has to do with expanding and/or scaling the the following, but not exclusively:
- hiring personnel
- acquiring new clients
- reaching out to new markets
- increasing output and delivery
- specialised services
The money must be used in the most efficient manner feasible in Queensland, or via suppliers based in Queensland.
What companies are eligible for funding?
To be eligible to apply, the applicant organisation must:
- Be a company based in Queensland
- Have an ABN and be registered for GST
- Be a company with 100% female founders
- Possess a majority of female owners
- Not exceed 50 full-time equivalents employees
- Not belong to a group of firms’ subsidiaries that has a full-time equivalent of more than 50 employees overall
- Have not previously received funding raising money, receiving grants, or using accelerators a sum greater than $500,o00
- Not have received the Ignite Ideas in the past or in the present fund
- Be doing an approved pre-seed currently or a start-up loan from an authorised qualified investor
The organisation submitting the application must be implementing an acceptable investment strategy utilising:
- creation of new shares
- issuance of fresh, unredeemable convertible notes within the first 12 months redeemed
- signing a new SAFE (Simple Agreement for Financial future equity)
Moreover, a qualified applicant at the time of application for a fresh investment strategy must be entered into a qualified investment company that:
- satisfies the bare minimum fiduciary standards of being a knowledgeable investor (as outlined in the Corporations Act of 2001) or possessing an AFS Licence
- have an ABN (unless operating as a trust)
- be a working organisation for investments, including without limiting:
- an Angel Investor/Group/Network/Syndicate
- Venture Capital Fund
- Professional Investor or Investment Fund Manager
- Limited Early-Stage Venture Capital ESVLCP partnerships or venture capital VCLP Limited Partnership
- A Managed Investment Plan or Investment Management Trust
- a Family Office
- Has a proven track record of developing early-stage investment ventures
- Is not a financial commitment linked to an acceleration of a starter programme or programme
- Is not a non-cash (in kind) investment, such as individuals who use a venture studio methodology
- Is not an associate2 or related party to the applicant organisation
- Is not a current investor or stakeholder in the organisation of the applicant
Is this grant competitive or entitlement based?
Competitive. Your application will be assessed among other applications by a judging panel.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.
As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.
Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project
- Industry analysis presentation
- Competitor Analysis Presentation
- Marketing and Sales Analysis Presentation
- 3-5 year Cashflow Forecast
- 3-5 year Balance Sheet Forecast
- Cost-Benefit Analysis of Grant Funding
- End-to-end grant application including information collating, analysis and application writing
- CAPEX (Capital Expenditure) cost-benefit analysis
- Stakeholder relations and Risk Mitigation Plans
- Any other relevant forecasting that will support your application
How can I get help with my application? Or know if I’m likely to win funding?
Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.