Abstract:
Under-represented founders are over-mentored and under-funded. At the same time many angels and VCs are struggling to build a stronger pipeline of diverse founders in diverse markets.
Informed by the BBB report 'Alone, together’ we believe one way to help both founders and funders is to focus on market insight and business development. We believe that confidence for founders and investors is found by working more effectively in their markets.
Those business owners most behind the curve on business development - Black, Asian, Minority Ethnic and Female founders - face the greatest barriers in accessing finance. And those funders with the weakest pipeline are those with least knowledge of the markets that under-represented founders are focused on. These factors combine to create a structural barrier to confidence, relationships and funding.
Sapphire & Steel are seeking a research partner to further explore this hypothesis by speaking with founders, investors, grant funders and the networks that support both. This research will work to validate the scale of the problems faced by under-represented founders ; to understand more on the expectations of investors and the ambition of under-represented founders; to uncover the precise barriers both face; and to begin the process of co-creating an element of the solution with them.
If you’re a research institution or other organisation with an interest in partnering with Sapphire & Steel on this project, please get in touch.