This LinkedIn member survey, conducted this fall, found that diversity among teams is of little concern to most venture capitalists and founders, despite fairly conclusive evidence that diverse teams are more successful. (More on that here and here.). The lack of emphasis on diversity is reflected in the abysmally low number of women and people of color who receive venture capital: 7% of VC funds to women founders, 2% to Black founders.
Now, most women owned businesses in Phoenix don’t rely on venture capital. So does this matter to us? Resoundingly, absolutely yes! Because the LinkedIn survey also showed a lack of initiatives to intentionally increase diversity, yet respondents felt that founder diversity would increase dramatically in the near future. In other words, they didn’t think they need to do anything about inclusion. This mindset probably extends to many of the people we work with everyday. How could we work to address this in our local community?
Empowered PhXX is 100% community-owned and self-organized. Our movement is empowered through action. This research summary is empowered by: Susan Halverson, Manager of Community Entrepreneurship, Entrepreneurship & Innovation Arizona State University.