About the Scholarships
The 2024 Lisa Ring and Family Scholarships, offer two scholarship programs to ambitious new founders looking to develop their knowledge and grow their new venture.
The scholarships are made possible by a generous donation from the Lisa Ring family who are passionate and committed to supporting new entrepreneurs and enabling their growth.
The Lisa Ring and Family Scholarships are designed to offer seed funding, sponsored co-working space, tailored coaching and support to new business founders in the very early stage of their business journey and help them advance to the next stage.
The benefits of the program
The scholarships include:
$10,000 AUD of seed funding for your business
12-months of StartSpace Loft membership for each scholar and one other teammate, and
Tailored mentoring and coaching program
Applications and eligibility
Applications for the 2024 scholarships are open until 11.59pm Sunday 12 November 2023.
All Victorian based early stage founders, age 18+, who are working on their new venture and able to commit to a scholarships program from January – December 2024 are eligible to apply for the scholarships.
Applications from Aboriginal and Torres Strait Islander people, people from culturally diverse backgrounds, LGBTIQ+ people, and people of all ages 18 and above and all abilities are welcomed.
To be eligible to apply for the 2024 scholarships you must be able to enter into a scholarship agreement no later than 2 December 2023, and commit to the scholarship program period of January to December 2024.
Applications will be assessed based on responses to the following criteria:
1. Market & problem (20%)
- What is your business idea / business model?
- How did you come up with it?
- Can you demonstrate a clear understanding of: target customers, the problem you are trying to solve and the addressable market for your business?
2. Solution & Innovation (20%)
- Demonstrate how your service or product solves this problem for customers or fills a demand in the market? (i.e. product market fit)
- What’s new and innovative in your solution?
3. Founder Strength & Fit (20%)
- Demonstrate how you (and Co-applicant if applicable) are particularly setup for success to deliver your solution
- Why are you best placed to deliver on this idea e.g. lived experience, skills, networks, knowledge.
4. Scholarship Impact (30%)
- Describe how this Lisa Ring & Family scholarship and its benefits will change the runway of your business?
- How much of a difference would this scholarship make to what you are trying to achieve?
5. Traction (10%)
- Demonstrate what you have achieved so far and what goals have been set to be undertaken in the next 12 months?
Other key information
The following individuals and/or organisations are ineligible to apply for the Lisa Ring and Family Scholarships for 2024:
Founders of established businesses or startups deemed too advanced and no-longer early stage.
The scholarships will be awarded to individuals (“Primary Applicant” in the application) – though there will be options provided to offer a co-founder or team member (one additional person) of the scholarship winners a 12-month membership of the StartSpace Loft coworking space.
Please note: StartSpace does not take any stake in the business in exchange for the seed funding; equity remains with the founder.