Why diverse voices are critical to the startup economy

Alexandra Bacchus, Nisolo

Why are women’s voices critical in today’s entrepreneurial economy?

Alexandra
Entrepreneurship could only go so far without women. The non-male voice is critical because it can redirect a company’s target customer and brand positioning by posing a simple question like, “Have we thought about X or Y?” When women (who make up over 50% of the US population!) are in the room to represent new solutions, it creates companies that have real, lasting market power.

What are some inspiring changes you’ve seen for women in the workplace that are paving the way for a more equitable future?

Alexandra
It seems like the workplace has been shifting constantly in recent years. Last year seemed especially monumental when the law was passed in California requiring at least 50% of a public company’s board (of 6-plus members) comprise women by 2021. Silicon Valley and San Francisco’s startup scene will hopefully look a lot different when that shift is fully implemented, which is a win for women and minority groups that are lacking representation in large, impactful, and emerging companies.

Data shows that VC money goes to only 8% of female founders, and in 2017, 2.2% went to all-female founding teams. Minority founders are further underrepresented, raising only 1% of VC. What are steps we can take as an ecosystem to remedy the imbalance?

Alexandra
This imbalance can hopefully be corrected through more diversity in venture capital and targeted VC funds that seek out under-represented founders. With more funds focused on both impact and inclusion, I think we’ll see a lot more founders feeling empowered to start companies, knowing that there is funding already there to meet them.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
36|86 Festival

36|86 Festival

36|86 brings together innovators, pioneers, investors & visionaries to shape the future of business.