Diversity Beyond Gender
Quantitative Research Report
November 2020
2019 was a record year for UK venture capital, with more than $13.2 billion invested in startups across the nation. Historically, funding for Black and Multi-Ethnic founders has paled in comparison to that for founders from majority groups. This report analyses the extent of the UK funding gap to understand if bias beyond gender exists in the UK venture capital market and what opportunities lie ahead to make access to innovation and entrepreneurship more equitable.
It is widely acknowledged that the coronavirus pandemic presents an opportunity to build back better. At Extend Ventures, we see this as an opportunity to ensure that the UK has the information to begin to put right some of the historical actions that have created the levels of inequality we see throughout venture capital and indeed society today. Removing inadvertently placed barriers to accessing capital for untapped entrepreneurs has the potential to yield significant returns for the entrepreneurs themselves, their disproportionately affected communities and the wider UK economy.
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Special thanks to: Tech Nation, Impact X Capital, Diversity VC, Goodman Derrick and Colour in Tech.
Impact of Covid-19 on Black and Ethnic Minority-led businesses
Survey Results
May 2020
The Covid-19 crisis has had a devastating impact not only on people’s lives but also on many parts of the UK economy. As the government has raced to deliver life support to businesses, the needs of one group of business owners have largely been overlooked: diverse founders and Black and ethnic minority entrepreneurs. Covid-19 is already having a disproportionate impact on ethnic minorities, who are over-represented in the death toll. While there is ongoing research into the reasons for this health discrepancy, we also need a better understanding of the implications of the pandemic for minority-led businesses.
Extend Ventures and Your Startup Your Story (YSYS), in collaboration with the community organisations CGV, 10x10, Kwanda, BYP, Colorintech and BGV, surveyed Black and ethnic minority founders to understand how they are surviving in this economic climate and whether the current government support meets their needs.
Respondents to this survey shared details about the stages of their companies, estimated runway, their eligibility for government support, where they need the most help right now, and more.
Please submit your details below to access the full report and join our mailing list.
Special thanks to The Equal Group, 3 Colours Rule, Lewis-Reid Ltd. and Jamii.