Whether intentional or not, the tech startup landscape has been optimized for middle- and upper-class white males. According to one analysis, 77% of venture-backed founders are white and 90% of them are men.
Advice on Launching a Tech Startup When You’re Not a White Man
Five things to know.
October 08, 2019, Updated October 11, 2019
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Summary.
Just one percent of venture-backed founders are black, and women-funded startups receive only 9% of investments. If you are a nontraditional tech entrepreneur — meaning you’re black, brown, a woman, or all of those things—it’s important to understand the challenges you need to overcome to succeed in this field. When it comes to funding, focus on finding that first investor who gets you and your vision, and plan to be looking for at leasts 12 months. Early seed investors are a good option, and are easier to find than you might think. Also remember — your startup may be solving a problem that impacts your community, but there is a chance that the problem you care deeply about doesn’t impact the daily lives of your white, male investors. Present data points that highlight the size of the market they’re unfamiliar with, how much that market spends on the competition you’re going to crush, and how much they could be spending on your product.