$10m to boost women-led start-ups

The fund was established as part of the government’s  2022-23 budget and was named the Carla Zampatti Fund after the pioneer NSW businesswoman and will invest specifically in early-stage women-led start-ups.

Women-led start-ups currently receive only about 5 per cent of venture capital funding in Australia, and the government said it hopes this fund will provide more women to finance their start-ups and take their businesses to the next level.

The fund will seek to partner with the private sector to boost the funding pool available to NSW women looking to grow their business. Minister for Women Bronnie Taylor said the funding will help more women realise their dreams of starting and growing their own businesses.

The fund will target opening applications by the end of 2023 with final design to be determined following consultation with industry.

Minister for Small Business Eleni Petinos said women currently make up about a third of small business owners in NSW.

“This venture capital fund will provide women with more opportunities and encourage them to run their own businesses,” Ms Petinos said.

“Small businesses are the lifeblood of our economy and communities, and the Carla Zampatti Fund will ensure women in our State are empowered to innovate for the future.”