A training program for women entrepreneurs has fast-tracked the growth and expansion of women-led startups, according to the City of Sydney. 

Non-for-profit organisation Springboard Enterprises Australia (SBE Australia)’s Accelerator program, sponsored by the City of Sydney’s annual grant of $35,000, seeks to turn women-led startups into globally competitive firms. 

“Less than 15 per cent of all venture capital investment is in companies led by women and statistics show that underfunded companies fail at much higher rates than those that are adequately funded,” Lord Mayor Clover Moore said.

“We’re supporting Springboard to help bridge this gap with masterclass programs for women entrepreneurs. The City has supported the organisation for five years as part of its long term economic development strategy to build the skills of business people and increase awareness of business opportunities,” she added. 

SBE Australia Chair Topaz Conway said more than 83 per cent of 36 accelerator program alumnae have raised over $173 million dollars and created hundreds of jobs over the past five years. 

The City of Sydney sponsorship grant supports SBE Australia’s early stage masterclass, which is an eight-week course involving up to 20 women.

The Lord Mayor said that this Sydney-based program will help prepare women for the Australia-wide bootcamp program that supports companies to become investor ready for global expansion.

“This initiative will support individual women and their companies, and in the long term it will help expand the city’s startup ecosystem and support the local economy,” the Lord Mayor said.

For more information about SBE Australia visit sb.co/Australia.