Flying Fox Ventures & Jump Start Studio Launch Women-Led Business Programs in Australia

Australia saw announcement of two new pre-accelerator programmes from Flying Fox Ventures and Jump Start Studio, both of which will promote women-owned firms in Australia's startup ecosystem. Each programme will receive $300,000 in funding from LaunchVic to support female founders and business owners.

The Announcement .2was made by Victoria's Minister of Industry and Innovation, Ben Carroll, during LaunchVic's Victorian Startup Gala. Flying Fox Ventures will introduce a programme called "Female Founders" that will focus on giving women access to useful relationships and business expertise. Co-founding partner Rachael Neumann expressed appreciation for LaunchVic's assistance in making it possible for this excellent and widely available programme to empower female entrepreneurs.

A critical need for women in the startup ecosystem will be filled by Jump Start Studio's programme, "Press Play," which will focus on aiding mid-to-senior-level women in both the corporate sector and startups.

In an effort to bridge the financing gap faced by women-led firms, leading Australian venture capitalists have pledged to reveal their investment statistics. The latest quarterly fundraising report from Cut Through Venture showed that female founder deal participation hit a record high across all levels, with the exception of Series A, which fell to a five-year low.

In order to get finance and resources, female founders confront certain difficulties and restrictions, which Flying Fox Ventures has acknowledged. They want to level the playing field, develop talent, and unleash the unrealized potential of female-led enterprises by designing a programme particularly to assist and uplift female entrepreneurs. This will help to create a more dynamic and successful innovation scene in Australia.

Minister Carroll also disclosed an additional $5 million for the Alice Anderson Fund, increasing its total funding to $15 million, in addition to these pre-accelerator programmes. In order to provide vital financial assistance, The Alice Anderson Fund, an angel sidecar of LaunchVic, co-invests in early-stage investment rounds for firms run by Victorian women. The fund has already invested in 26 women-led firms since its establishment in 2021, releasing over $36 million in funds for the Victorian startup sector.

Kate Cornick, CEO of LaunchVic, reaffirmed her commitment to fostering a vibrant and diverse entrepreneurial community in Victoria and emphasised that the increased financing for the next generation of female entrepreneurs is evidence of the contribution they are making to the ecosystem.