Women running businesses in the agrifood technology sector could benefit from an initiative aimed at addressing a gender disparity.
Just 15 per cent of science, technology, engineering and maths jobs in Australia are held by women, while venture capital funding for female-led startups plunged to just 2.1 per cent in 2022.
Female entrepreneurs are often overlooked by predominantly male investors, TEKWOMEN QLD and Farmers2Founders co-founder Skye Raward said.
“Female founders deliver 35 per cent greater returns on investment than their male counterparts and it’s time to back them,” she told AAP.
“Our program is designed to give women the confidence, connections, and skills to launch and lead successful agrifood-tech businesses.”
Starting with agrifood founders in Queensland, Ms Raward hopes to eventually expand the programs to other states.
“This isn’t just about closing the gap, it’s about rewriting the narrative,” Ms Raward said.
“We’re unlocking the potential of female-led innovation and ensuring women have a seat at the table in shaping the future of agrifood-tech.”
Samantha Pritchard founded People in Paddocks which is dedicated to enhancing farming human resources and work health and safety practices with an aim to stop farm deaths.
She undertook a Farmers2Founders program when she wanted to scale up her business as she was gaining traction with a waitlist of clients.
“They opened doors I never even knew existed,” she said.
“I now feel extremely confident and excited about the next stage of my business, and as a bonus my network of founders, funders, mentors and new friends has grown.”
By the end of the program, Ms Pritchard had increased her business’s annual revenue to $180,000, up from $50,000.
Initiatives include a 48-hour incubator to help female founders refine and validate business ideas and a 15-month incubator with hands-on mentorship and industry exposure.
There are also options to accelerate careers of young women aged 18 to 25 looking to enter the agrifood sector and a career pivot program for mid-to-late career women looking to transition to tech leadership roles.
“We’re actively looking to bring in new talent in the industry,” Ms Raward said.
“We’ve had huge interest already from female founders which shows there is a real need for it.”
Applications for the 2025 programs are now open on the TEKWOMEN QLD website.