The Victorian Authorities-backed Alice Anderson Fund for women-led startups is celebrating one-year serving to native entreprenuers unlocking tens of millions in capital.
Minister for Innovation, Medical Analysis and the Digital Financial system Jaala Pulford joined LaunchVic and the recipients of the Alice Anderson Fund in a single day to rejoice its achievements up to now and drive ahead its purpose of backing 60 women-led startups by 2024.
Since launching in July 2021, the Fund has supported 11 women-led startups unlock greater than $12.5 million of capital, delivered near $2.5 million in direct investments and helped to draw an extra $10 million from non-public buyers.
Named after the founding father of Australia’s first all-women motor storage within the Twenties, LaunchVic’s $10 million Alice Anderson Fund co-invests between $50,000 and $300,000 in early-stage startups based and led by Victorian ladies.
Victoria’s startup business is rising quickly, greater than doubling in worth prior to now 12 months to $23.6 billion. Supporting Victorian startups by growing competitiveness and attracting nationwide and worldwide buyers is a strategic precedence.
Minister Pulford, stated, “This Fund is about empowering ladies as they construct their very own enterprise communities – so that they don’t must really feel like they must battle for their very own place within the start-up business.”
“The legacy of Alice Anderson lives on by these 11 formidable founders, as we mark this particular milestone.”
Dr Kate Cornick (pictured), CEO of LaunchVic, added, “Victoria is going through an estimated $100 million annual shortfall in early-stage funding, and this stat disproportionately impacts ladies. We’re proud that within the first 12 months of the Alice Anderson fund, we’ve supported 11 women-led startups and unlocked greater than $12.5 million of capital. We’re on a mission to shut the gender funding hole even additional between now and 2024, with a purpose to again in shut to a different 50 women-led startups at their earliest levels, so that they have each alternative to succeed.”
Startups from the Alice Anderson Fund have created greater than 120 jobs prior to now 12 months.
For extra details about the Alice Anderson Fund, go to launchvic.org/alice-anderson-fund.