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The NSW government has opened applications for a $4 million program aimed at helping more women founders launch startups, months after the funding was first announced.
The Diversity Pre-Accelerator Program will provide early-stage training, mentoring and support, with a focus on building core skills in areas such as business modelling, communication, and minimum viable product development.
The program forms part of NSW’s Innovation Blueprint 2035, which identifies diversity as a key driver of innovation but notes that many groups remain underrepresented in the startup ecosystem. The blueprint itself was delayed and has faced scrutiny over the level of detail and funding commitments.
The rollout also comes as the government continues to review parts of its innovation framework, including the role of the NSW Innovation and Productivity Council, which currently has no appointed members.
It also follows the announcement of a $20 million emerging technologies commercialisation fund in March.
The initiative will be delivered in partnership with universities, including the University of Newcastle’s Integrated Innovation Network (I2N), which will support up to 188 founders, and UNSW Founders, which will focus on women and culturally diverse health innovators in Greater Western Sydney and regional areas.
The launch follows confirmation in Senate estimates back in February that $4 million had been allocated over four years to support female founders and entrepreneurs from culturally and linguistically diverse backgrounds.
The funding also follows the winding up of the NSW government’s partnership with Techstars, as the state shifts toward locally delivered pre-accelerator programs.
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A procurement process to identify delivery partners had been underway earlier this year, with contracts now finalised and the first programs open to participants.
The government has framed the initiative as part of a broader effort to reduce barriers to entry and build a more diverse pipeline of founders progressing into accelerator programs and investment.
Minister for Innovation Anoulack Chanthivong said the program is designed to address long-standing gaps in the startup ecosystem.
“The Diversity Pre-Accelerator Program is about backing talent wherever it exists, breaking down barriers that prevent underrepresented founders from turning ideas into viable businesses,” he said.
“This first round will equip women-owned startups — who receive as little as seven per cent of venture capital — with the foundational skills they need for market entry and growth.”
Additional providers are expected to be announced, with future rounds set to expand the program’s reach to other underrepresented groups, including First Nations founders, people with disabilities, and culturally diverse entrepreneurs.
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