A new funding opportunity is pushing women in business to the front, with $10 million in venture capital (VC) dedicated to empower women to launch their own businesses. 

The funding will invest specifically in early stage women-led startups, conquering an invisible gap which was highlighted when women-led startups received only about five per cent of venture capital funding in 2021 despite making up more than 22% of all startups.

“The need to reduce the gender pay gap is well known. What’s less known is the gender investment gap,” said NSW Treasurer Matt Kean.  

“This fund will unleash a new wave of female entrepreneurs, providing women with more opportunities to finance their startups and take their businesses to the next level,” Mr Kean said. 

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. 

"Female-owned businesses have a proven track record of success, but the balance isn't right with female entrepreneurs far less likely to receive venture capital funding," Mrs Taylor said. 

Rebel Black, founder of The Rural Woman, at 'Tin Camp Studios', a unique performance venue and one of her various enterprises in Lightning Ridge.

In rural NSW, female-led startups have driven large parts of the local economy, including the Warren-based ‘Buy From the Bush’ campaign which kept businesses alive during years of drought, Lightning Ridge founded ‘The Rural Woman’, which encourages connection in isolated areas, and the ExtraOrdinary Outback Stories podcast, founded by Western Plains locals.

Founder of ‘The Rural Women’ Rebel Black said that government support was crucial to capitalise on to make progress in their co-operative. 

“There're some systemic and structural disadvantages that are still in place for women re-entering the workforce…I think there’s a confidence barrier that we’ve seen in a lot of the women I’ve been working with,” Ms Black said. 

Mrs Taylor said that putting women forward will benefit everyone. 

“This fund will help more women get their ideas off the ground, because we know that if women succeed, NSW succeeds,” Mrs Taylor said. 

The NSW Government funding ‘The Carla Zampatti Fund’ was named after the late NSW businesswoman, a renowned Australian fashion designer.