Women in the startup sector are a step closer to having their business dreams realised, with applications opening for a new fund which will drive early-stage investment.
The Andrews Labor Government’s Alice Anderson Fund will co-invest $10 million in early-stage capital for up to 60 women-led startups, an official press release said.
With every dollar of Government funding to be matched by three dollars of private investment, the Fund could unlock up to $40 million to drive early-stage startups. Led by startup agency LaunchVic, the Fund will see the Government co-invest between $50,000 and $300,000 for new businesses.
The initiative will help women-led business overcome funding hurdles—a 2019 study revealed only 19 of 104 Victorian startups that received angel or venture capitalist investment had a woman as founder.
The Fund is open to local and international angel networks, early-stage venture capitalists focused on seed investments, family offices and individuals.
Nominated startups for co-investment must be 50 per cent owned by at least one woman, or have a 30 per cent ownership stake by women, including one woman in an executive role. If there is a board, it must have representation of at least 30 per cent women.
The Fund is named in honour of Alice Anderson, a pioneering Victorian mechanic and entrepreneur who founded Australia’s first all-women motor garage in Kew in 1919.
Investors can review the application guidelines and apply to the Fund by visiting launchvic.org/general/angel-
Follow The Indian Sun on Twitter | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
