The Morrison government established the Boosting Female Founders (BFF) grant program in 2020, which has been continued by the Albanese government, which targets women-led startups by offering matching funds of up to $480,000 for local and overseas development. Nevertheless, recent changes have let down women running businesses.
Funding Details
Despite approving $35.2 million for successful applicants, the BFF program was at the receiving end of internal criticism. After the 2024-2025 federal budget, there was a low-profile announcement from the Department of Industry, Science, and Resources (DISR) that Round 2 and Round 3 grantees would receive no further funding for new rounds. This decision takes roughly $17 million from the grant program and dumps woman-owned startups.
Unfulfilled Mission of BFF
The BFF program was designed to make things more equal and fair for Australian women in the startup sphere. Given that only a small percentage of venture capital is directed to women-led businesses, the BFF grants were important.
Aside from money, successful applicants were also offered business advice and guidance on topics such as money management, patents and trademarks, promotion and advertising strategies, and where to seek capital for their inventions. These services were provided to more than 900 applicants, but now, the end of the program has become a considerable problem for women entrepreneurs.
Boosting Female Founders Initiative
The Boosting Female Founders Initiative is designed to help women-run startups receive the grants they need to expand their businesses into domestic and international markets. This program also promotes job creation for women-led innovative companies in the private sector, aiming to be sustainable.
Women entrepreneurs are awarded grants ranging from $100,000 – $400,000, with up to $480,000 for priority groups to scale their businesses locally and internationally. Some of these candidates are also given the privilege of being mentored by some of the most qualified professionals, thus increasing their success rate. The Boosting Female Founders Initiative means financial assistance to women-led startups, guidance from specialists, and access to new markets.
Success Stories from Boosting Female Founders
Circular Wardrobe from AirRobe Pty Ltd solves the problem of textile waste as, together with fashion brands, the company captures product data at the moment of purchase. Consumers can then wear the used fashion items before returning them for reuse, which creates a cycle.
Amelio Health Pty Ltd, a startup company, is now developing its digital behavioral medicine pain management practice, and while it targets local patients, it plans to go international.
Arete Labs & Technical Solutions Pty Ltd serves as a contract formulation company of personal care and cosmeceutical products. One is they are developing a small test vial formulation to minimize wastage and expense while increasing production.
Atech Services Pty Ltd, where project Rocketlaunch involves delivering leadership capability to increase market portfolio in domestic and international settings to enhance global business. These female entrepreneurs are the epitome of innovation, flexibility, and hard work in any business.
Conclusion
The cancellation of the BFF grants, though it was started well, remains evidence of the continuing fight for gender equality in business. Female founders deserve better, and this program’s end is quite single-minded and insulting to their dreams and efforts. The Boosting Female Founders Initiative focuses on helping female founders by providing them with funds and professional assistance.
Hi, I am Surabhi Agarwal. I am a dynamic Content Writer and Digital Marketer with a passion for creating engaging content and driving impactful digital strategies.
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