- Published:
- Thursday 22 October 2026
Labor is backing Victorian women to start ambitious businesses and boost the economy.
$10 million for the Alice Anderson Fund will help women get the capital they need to start, scale and succeed.
This latest funding adds to Labor’s $10 million investment to establish the Fund in 2021.
45 per cent of Victoria’s startups have at least one female founder, thanks to our pipeline of female entrepreneurs.
But Cut Through Ventures found all-women founding teams get two per cent of venture capital in Australia.
The Alice Anderson Fund steps in to help close this funding gap for women founders by providing capital backing.
It also gives them better access to networks and support to scale ambitious businesses and drive economic growth.
The Fund has invested in 46 companies founded by Victorian women, leveraging over $64 million in co-investment.
It invested in health tech startup Telecare, later acquired by New York Stock Exchange-listed company Teladoc.
SmileyScope, also backed by the Fund, uses VR technology to reduce pain and anxiety during medical procedures.
The Fund is named after Alice Anderson, who started Australia’s first all-women motor garage in Kew in 1919.
The economy is growing under Labor, but Jess Wilson’s Liberal-One Nation coalition will put it all at risk.
Quotes attributable to Minister for Economic Development Anthony Carbines
“We’re backing women in business to turn bold ideas into thriving start-ups.”
“By supporting ambitious Victorian businesswomen, we’re making Victoria a global innovation powerhouse.”
Quotes attributable to Innovation Victoria CEO Rod Bristow
“With this expansion of the Alice Anderson Fund, we look forward to backing the next generation of ambitious Victorian entrepreneurs who will carry forward Alice’s pioneering spirit and legacy of impact.”
Quotes attributable to Dr Evelyn Chan, President and Australian Chief Executive Officer, Smileyscope
“The early backing from the Alice Anderson Fund was instrumental in helping us take Smileyscope from a clinician-led innovation to a growing global healthcare company."