The Black Founders Podcast: Introduction
Sup readers. This is your introduction to the new upcoming series of 'The Black Founders Podcast', where we listen to inspiring entrepreneurs who have crafted incredible startups and represent cultural diversity speak about their journeys.
Throughout this season of episodes, we'll be hearing from a range of topics which include; fashion, tech, music, sustainability, horticulture, beauty and more.
What's so unique about the structure of this podcast
Well, a set of fun challenges for our guests must be completed throughout each episode from presenting skills, quick-fire questions to multi-tasking. At the end of each of these episodes, a score will be given based on how they performed in the gaming segments. They'll then be placed on a leaderboard alongside other guests on this show.
More importantly, we hope to learn about their successes, struggles, aspirations and goals to their experiences working in startups as black individuals. We'll be discussing how allies can become more aware of the problems that persist in industry and how we collectively can close the alarming disproportionate gap of funding & support for black founders.
Ethnic teams received an average of just 1.7% of the venture capital investments made at seed, early and late-stage over this decade.
The alarming stats
The report, by the not-for-profit community interest company Extend Ventures, looked at how VC has been invested in the U.K. between 2009 and 2019 — providing data on 3,784 entrepreneurs who started 2,002 companies over this period. It found that all-ethnic teams received an average of just 1.7% of the venture capital investments made at seed, early and late-stage over this decade. Whilst only a total of 10 female entrepreneurs of Black appearance received venture capital investment (0.02% of the total amount invested) across the 10-year period, with none so far receiving late-stage funding,” the report notes. The U.K.’s Black and multi-ethnic communities, meanwhile, now comprise 14% of the U.K. population.
Change needs to happen. And fast.
What you may expect to hear in this podcast are the immersive sound effects, musical pieces and 3D audio experiences produced right here on HOKH.