A new startup training program providing Victorian women with the skills and insights they need to pursue their entrepreneurial dreams has welcomed its very first cohort.
Press Play, a free, 12-week course backed by LaunchVic and led by local startup experts, closed its inaugural application round on Wednesday.
That group of would-be founders will gain access to online training materials outlining everything from startup business models and financial strategies to go-to-market plans.
The initiative has the goal of empowering professional women with the insights they need to capitalise on their own big ideas.
“There’s a lot of talk about the funding hurdles female founders face, and we’ve decided to roll up our sleeves and be part of the solution,” it states.
Press Play arrives as a collaboration of Jumpstart Studio, NiceTo, Vox360, and Evander Strategy.
In July, LaunchVic announced Jumpstart Studio would share in $600,000 in funding designed to boost women-led startups, with Flying Fox Ventures, another recipient, launching its own female founders program.
The Press Play course, valued at $4,700, is accessible through a fully refundable $300 payment and does not require would-be founders to provide any equity in their nascent startup idea.
While the program will take a hands-off approach during the course, Press Play has also announced a $50,000 Founder Alumni Fund, designed to contribute matched funding to any successful investment secured by a PressPlay graduate.
That declaration comes after a torrent of contemporary research showing Australian women are far less likely to receive startup investment than their male counterparts.
To combat the bias towards male-founded startups, 13 venture capital firms recently pledged to reveal the gender make-up of the teams they invest in, to promote transparency and equity in the sector.
Press Play will run for 12 weeks, kicking off in February 2024.
While the application cut-off means some aspiring entrepreneurs may have missed out, Press Play itself has opened the possibility of further courses – including those catering to interstate professionals.
“We have noticed a surge in interest from participants residing outside of Victoria,” its website states.
“We encourage you to continue submitting your applications through our designated form.
“If we see a substantial number of applicants from other states, we are considering launching a separate cohort specifically for women located outside of Victoria. Stay tuned!”
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
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