The NSW government is pushing to close the gender gap in entrepreneurship, launching a $4 million pre-accelerator program designed to help more women turn their business ideas into viable startups.
The new Diversity Pre-Accelerator Program, announced today by the NSW government, will provide early-stage training, mentoring and support to women founders across the state, with the first round now open. It is designed to equip women with core busness skills across business modelling, communication and minimum viable product development before they reach investors.
The initiative targets one of the most persistent inequities in the innovation economy: women remain significantly underrepresented and receive just a fraction of venture capital funding, despite strong evidence that diverse teams outperform their peers.
The University of Newcastle and University of NSW have been appointed by the government to deliver tailored programs.
The University of Newcastle’s Integrated Innovation Network (I2N) will run a two-stage program supporting up to 188 women founders across NSW, while UNSW Founders will support at least 20 women and culturally diverse health innovators in Greater Western Sydney and regional areas.
More providers are expected to be announced, with a broader focus on inclusion, including First Nations founders, people with disability and culturally diverse entrepreneurs to come.
Minister for Innovation Anoulack Chanthivong pointed to stark disparities in investment for women founders.
“The Diversity Pre-Accelerator Program is about backing talent wherever it exists, breaking down barriers that prevent under-represented 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.
“This is exactly the kind of practical, on-the-ground delivery that will support more people across NSW to participate in innovation, create jobs and help build a better NSW.”
Minister for the Hunter Yasmin Catley said the program aims to ensure women, particularly those outside metropolitan hubs, can access the support they need without relocating.
“There is no shortage of brilliant ideas among the women of the Hunter—what’s been missing is the backing to turn them into businesses,” she said.
“Talent shouldn’t depend on postcode. You shouldn’t have to leave the Hunter to be taken seriously.”
Dina Titkova, Senior Manager (Entrepreneurship) at UNSW Founders, said their program will play a critical role in broadening participation in health innovation by supporting women and culturally diverse founders.
“We’re excited to partner with the NSW Government to help founders build strong foundations and clear pathways to scale,” she said.
University of Newcastle Vice-Chancellor, Professor Alex Zelinsky AO, said the I2N program is the number one startup accelerator in the country.
“The University of Newcastle is proud to partner with the NSW Government on this important program, which will strengthen pathways for more women to participate in innovation and entrepreneurship across the state,” Zelinsky said.
“This partnership means we can provide more support to women founders across the state and highlights the vital role universities play in collaborating with government to deliver practical outcomes – supporting founders, strengthening regions and driving long-term economic opportunity across NSW.”
The program forms part of the NSW Innovation Blueprint, which identified diversity as a critical driver of innovation outcomes while noting that women are structurally filtered out early.