Paradigm shift: Aussie startup scene embraces new SheEO investment platform for female founders

Stephanie Palmer-Derrien - SmartCompany - 24 July 2018

Part-crowdfunding, part-community support platform SheEO has launched in Australia, to much celebration from members of the local startup scene — males and females alike.

Launched in Toronto three years ago by founder Vicki Saunders, SheEO is designed to create a whole new playing field for female entrepreneurs, rather than merely levelling the one we already have.

In each cohort, 500 female backers, or activators, contribute $1100 each — $1000 to the fund, plus a $100 program fee. The $500,000 is pooled and loaned out with 0% interest to five female-led ventures focused on solving a social issue.

Ventures repay the loan over five years, while additional annual fundraising rounds allow for more investment into new businesses. Eventually, the idea is to create a ‘perpetual fund’ supporting female-led ventures.

To date, the global program has signed up 3000 activators, funded 32 ventures and loaned out around $US3 million ($4.04 million).

The launch of the program in Australia was announced in May, with Julie Trell, head of Telstra’s startup accelerator muru-D leading the charge as SheEO Australia country lead. It opened to activators on Thursday and announced its first backers at the weekend. Read more