Brisbane-based Advanced Robotics for Manufacturing Hub (ARM Hub) is one of 11 leading education and industry agencies funded through the Advance Queensland Accelerating Female Founders program to support Queensland women entrepreneurs.
ARM Hub Founder and CEO Dr Cori Stewart said the hub was thrilled to be named as a successful recipient of Round 1 of the Accelerating Female Founders Program.
“We will help these female founders through our inaugural Business and Technology Roadmap Development Program, providing business owners with access to world-class experts to develop strategies to identify and overcome product and technology gaps and become investment ready,” Dr Stewart said.
“The accelerator goes beyond refining your business objectives. We help you identify and plan the Industry 5.0 technologies you need to scale your business.
“These roadmaps are fit-for-purpose, designed with the help of leading Australian experts in the field of robotics, artificial intelligence, automation, and design-led manufacturing.
“This is a great opportunity for Queensland small-to-medium businesses and micro-businesses to tap into a wealth of knowledge and experience.
“Roadmaps are essential for growing your business and becoming more attractive to investors.”
Female founders that are looking to scale-up, interested in applying enabling technology, servicing any sector, based in South East Queensland and regional Queensland can apply for the Business and Technology Roadmap Development Program here. Applications are open until 15 August.
Dr Stewart said the Accelerating Female Founders Program was important because “we know women grow great businesses yet are so under-represented in the manufacturing and technology sectors”.
She said the Queensland Government is forward thinking in building the capability of its female entrepreneurs.
The ARM Hub is a not-for-profit company with a mission to accelerate industry’s uptake of advanced manufacturing technologies.
Since its inception in 2020, the hub has raised $254 million, created 187 jobs, worked with over 5000 people to build their capabilities, and delivered projects with 68 companies.
The Accelerating Female Founders Program is part of the Advance Queensland’s Backing Female Founders Program, which first launched in 2019. The program aims to address the under-representation of women entrepreneurs in the innovation economy.
Sharing in almost $1 million in Advance Queensland funding, the 11 agencies will provide practical business development programs, from incubator and pre-accelerator for early-stage start-up founders building their product or service to accelerators for more mature start-ups and scaleups.
According to Deloitte’s 2022 Accelerating female founders: The untapped investment opportunity report, although start-ups are a key component of a vibrant economy, only 22 per cent of Australian start-ups were founded by women.
The Deloitte report found that 94 per cent of women founders who participated in targeted incubator, pre-accelerator and accelerator programs reported improved confidence and self-esteem.
A 2016 Kaufman Fellows Report found that privately held tech companies led by women are more capital-efficient, achieve a 35 per cent higher return on investment, and when they do receive venture capital, bring in 12 per cent more revenue than male-owned tech companies.
We caught up with Dr Stewart. Watch the video below.
