This Fund Will Invest In Startups That Aren’t Run By White Men In Big Cities
Story excerpt provided by Fast Company.
Written by Esha Chhabra.
Between 2011 and 2013, companies with a female CEO got only 3% of the total venture capital dollars available. That’s $1.5 billion out of the total $50.8 billion invested in that two year period—a tiny slice of the pie. This year’s Crunchies, the Oscars for the tech community, had a new award category: the Diversity Include Award. Silicon Valley is as guilty as Hollywood for its lack of diversity.
“This economic engine has been defined by white males, and mostly privileged white males.”
Jean Case, CEO of the Case Foundation, is keen to change that dynamic. That’s why she’s backing a new $10 million fund, the Focus Fund, for women and minority entrepreneurs, led by JumpStart Inc., an Ohio-based nonprofit that helps tech entrepreneurs find capital and resources to grow their businesses.
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Originally published April 20, 2016.
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