Providing a springboard for women-owned businesses

A FAST-TRACK program to support up-and-coming female entrepreneurs is being supported by the City of Sydney as part of its efforts to foster business and boost the local economy.

Springboard Enterprises Australia (SBE) has received $35,000 in City sponsorship for their 2016 Accelerator Program that includes an education and coaching course designed for women entrepreneurs in the early stages of their company’s development. 

Lord Mayor Clover Moore said it was important to support women entrepreneurs, who are underrepresented in areas like emerging and high-growth businesses.

“Too little investment in women-led, high-growth companies impedes our city’s economic growth. So it’s not only a women’s issue, it’s a broader economic issue,” said the Lord Mayor.

“There are plenty of outstanding female entrepreneurs in Australia who could use Springboard’s support to take their business to the next level.

“Our upcoming Tech Startups Action Plan identifies the need to increase the number of female entrepreneurs launching and scaling high-growth businesses as an economic priority.”

The sponsorship falls under the City’s 10-year economic development strategy that aims to enhance the skills of business people and increase their awareness of business opportunities.”

Each year, SBE runs a ‘bootcamp’ for up to 10 companies, designed to accelerate their growth by providing skills and knowledge, coaching, mentorships and connections to local and international venture capitalists, angel and corporate investors.  

Companies selected to take part must:

•    Have a woman in a senior position with a significant equity stake;
•    Demonstrate a qualified and profitable market opportunity;
•    Have a track record of milestone achievement;
•    Have a credible management team or ability to attract one; and
•    Be based in or have significant operations in Australia.

SBE Australia Chair, Topaz Conway, said the City’s shared commitment to entrepreneurs was a key alignment with Springboard Enterprises Australia’s efforts to deliver a world-class program for women. 

“Since 2013, Springboard has worked with 26 women entrepreneurs to scale their businesses. To date, 70 per cent of these companies have now received more than $68 million in investment capital and a third have expanded to US and UK markets.

“Our goal is to help women make high-value contributions to Australia’s economy through innovation and technology.” 

The City has supported the SBE Accelerator Program since its launch in Australia in 2012 as part of the Economic Development Strategy to encourage women entrepreneurs, help strengthen the Sydney economy and support business.

Entrepreneur and Switch Automation co-founder, Deb Noller, completed the SBE Inaugural Accelerator Program in 2013 and last year expanded her businesses to the United States. 

“The Springboard Enterprise Australia Induction Program was perhaps one of the most eye-opening experiences of my personal AND professional life. I will never forget the feedback I received—mostly in the form of learning how to present myself and my company in a confident, clear light,” said Noller.

“Those mentors were invaluable in helping shape our approach to global expansion. We now have more than 7,000 buildings on our platform around the world; 38 employees; and are raising our first big Series A round.

The continued coaching and support means that I can stand in front of any potential customer, my global team and any investor and present our solution to the buildings industry the way that it deserves to be presented.”

Switch Automation is a cloud-based software program that provides a remote energy-management and sustainability reporting for buildings to help business cut costs and run more efficiently. 

For more information, visit sb.co/australia 

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