Connections

The importance of diversity in the tech startup ecosystem remains the spotlight, and for good reason. Even as we’ve seen steps toward greater representation and progress with DEI initiatives and companies implementing C-suite positions devoted to equity, the disparities remain stark. Surveys show that founders from diverse backgrounds receive just a tiny fraction of venture capital funding. In the case of Black women founders, for example, it’s just one per cent. 

But as you’ll see in this issue of Disruption, there is no shortage of deserving entrepreneurs who come from these underrepresented groups. We wanted to focus on BIPOC (Black, Indigenous and other people of colour) founders and funders in this issue to help propel the conversation, push for greater progress in the ecosystem, and showcase the efforts from those who are typically excluded, looked over and remain drastically underrepresented in these spaces. 

As Konata Lake points out in his conversation with three women leaders in the space, we need to push for greater representation at all levels and encourage greater participation and entry into the pipeline. 

An internship is often one way students enter the pipeline, so we’re excited to feature the work Riipen is doing with its Level UP program, which is giving students, including those from diverse backgrounds and rural and remote communities, the opportunity to gain key work experience. 

We know that what gets measured gets managed, and that’s why the work being done at the Afro Caribbean Business Network to uncover the data on Black-owned businesses is so important. If support is going to be effective, it needs to be targeted, and we’re excited to see how their work continues as they celebrate their fifth anniversary. 

Our Women Making a Difference feature this month is Carol Anne Hilton, whose work on Indigenomics is putting a spotlight on the impact Indigenous perspectives can have on our economies and businesses, especially as we grapple with some of the big social, political and environmental challenges of today. 

At Women of Color Connecting (WOCCON), ensuring BIPOC women founders have the opportunity to develop and cultivate strong networks is key to their work. For those of us who consider ourselves allies and occupy a place of privilege, ask yourself how you can extend a hand to an underrepresented founder. We should all accept the challenge to open the door to a BIPOC founder. Support doesn't always have to come in the form of financial capital, though that is crucial. It is also advice, mentorship and other ways to support underrepresented founders in the space. 

That’s exactly what’s being done at the DMZ at Toronto Metropolitan University, where their equity streams are supporting Black and women-led companies with tailored resources and programming to help them not just survive in the ecosystem, but to thrive in it. They’re setting an example on the value and impact this support can have on diversity in the ecosystem. 

And increasing diversity is a good thing not just because it’s the right thing to do, but because studies show that companies founded and led by people from diverse backgrounds typically perform better. As Brittany Davis puts it in our Last Word, when we increase diversity, we can create additional value that benefits everyone.

We’re so proud to bring this issue to our readers, and we hope it leaves you feeling inspired. Reach out to diverse communities, support access to greater resources to encourage more BIPOC entry into the pipeline and use your voice to push for the progress we so desperately need. Let’s disrupt things together; our ecosystem will be so much better for it.