Ithaca Impact, with an office in Toowong, has launched an innovative program called ‘Get Set for Impact’ aimed at empowering purpose-driven female founders across Queensland.
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The initiative comes at a critical time. Recent data reveals a stark imbalance in Australia’s startup ecosystem: of the $3.5 billion invested in startups last year, a mere 4 percent was allocated to all-female led businesses. This underwhelming figure stands in sharp contrast to the superior economic, social, and environmental outcomes these ventures typically achieve.
Dr Elizabeth Armstrong, Managing Director of Ithaca Impact and a female founder herself, emphasises the urgency of the situation. “To help innovation thrive, we need to shift the needle on backing for female founders,” she stated.
The ‘Get Set for Impact’ program is designed to do just that, offering a suite of resources to help women entrepreneurs capture, showcase, and leverage their social and environmental impact to attract investment.
Inside ‘Get Set for Impact’: Tailored Support for Purpose-Driven Ventures
Supported by Advance Queensland, a Queensland government initiative, the program provides participants with customised impact tools, personalised one-on-one support, and access to a high-profile showcase event. These resources are tailored to help female founders articulate their impact story in clear, visually compelling ways that resonate with impact investors.
The program’s structure is both intensive and intimate. Small cohorts of six entrepreneurs will work closely with the Ithaca Impact team to develop a Theory of Change, implement evidence collection strategies, and create bespoke online impact dashboards. This hands-on approach ensures that each participant receives the attention and guidance needed to maximise their potential.
‘Get Set for Impact’ is part of the broader Accelerating Female Founders Program, an initiative that has allocated over $2 million in funding from Advance Queensland to support female entrepreneurs across the state. Ithaca Impact is one of 11 agencies awarded funding in Round 2 of this program, with their focus on Impact Measurement and Management.
By providing the tools, support, and visibility needed to succeed in a competitive landscape, ‘Get Set for Impact’ is poised to not only boost individual businesses but also contribute to a more balanced and impactful startup ecosystem in Australia.
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For female founders in Queensland with a vision for positive change, this Toowong-based initiative offers a golden opportunity to turn their impact aspirations into measurable, investable realities. As the program gains momentum, all eyes will be on these emerging leaders and the transformative effects their ventures promise to deliver.
Published 6-September-2024