Nurturing a new investor community that’s truly diverse
When I launched Ethical Equity, I wanted it to be the start of a positive movement. Yes, it was a place for underserved founders to find funding, but I also wanted a new community to grow from it – one that celebrated diversity within investment.
I’ve attended investor events for years and always felt frustrated looking around and noticing that, yet again, I’m the only person there from a minority background.
I know there are plenty of investors out there from minority groups, but the world of investment events is dominated by privileged, middle-aged white men. So why aren’t underserved investors part of the usual groups?
It could be that they're neglected, they’ve not been given the chance to join the space or they feel like they don’t fit in. Whatever the reason, I’m on a mission to balance things out.
We hosted our first event last week, bringing together a truly inclusive community of impact investors and startups to help them get to know each other and share experiences.
The objective? For anyone to be able to turn up and see other people like them; to feel included.
The message? To say, “you people do exist, you just need to be aware of one another”. And looking around last week, I think we achieved both.
It’s been a long time coming, but I’m proud to say that we have held an investor event that is truly diverse and inclusive.
The goals for our new community
The event was a great opportunity to celebrate the launch of Ethical Equity and the successes we have had so far. But more than that, it was designed to test the waters among attendees.
I went into the event hoping there would be an appetite to grow a community like this. The responses were nothing but positive. A number of investors and investees told me that people often talk about putting on an event like this – they were pleased we’d actually done it.
My hope is that it will be the first of many meetups, and the start of a positive movement that:
Lowers the barriers for overlooked communities
Unlocks the underserved investor community and gives them a platform to connect and share experiences
Gives ethically compliant start-ups the hope that they can raise capital
Shows there are underrepresented investors who understand their struggles and are willing to support them
Nurtures a new wave of investors who want to support ethically compliant startups
How will we break down the barriers?
As the founder of Ethical Equity, I know the frustrations and invisible barriers when trying to access funding as an underrepresented start-up founder. I’m on that journey myself and I understand how hard it is.
Not long ago, we were getting quotes from tech agencies to build a digital platform. “We can build it for you but it will be £200k to get it off the ground,” they said. Of course, I didn't have that kind of money.
Stuart Harrison, our chairman, suggested we apply for the SuperTech West Midlands programme for building minimum viable products (MVPs). My first reaction? Why bother – people like me don't win. I will just be setting myself up for failure.
Despite my reticence, we submitted an application at the last minute, and ended up getting through and winning.
I’m thrilled that it gave us the cash to get our first product off the ground. But sadly, that story points out the huge barriers that are still out there. Even if funding programmes are prepared to invest in minority founders, many aren’t applying in the belief that the barriers to their success are too ingrained and impenetrable for them to succeed.
Ethical Equity is all about breaking down these barriers for underserved and ethically compliant start-ups and scale-ups.
What else is on the agenda at Ethical Equity?
Alongside the investment platform and the community we’re building, there are lots of exciting developments in the pipeline:
Investor readiness bootcamp
We’re running this event to help founders become investor ready. It will include workshops on creating pitch decks and affordable fundraising videos that resonate with investors.
New marketplace widening access to services
In the early days, the success of a start-up often depends on using your contacts to find the services you need.
But we know that overlooked founders struggle to access suitable services to get their idea off the ground. This can be a major barrier to growing the business. This marketplace will empower them to access relevant and trusted services that don’t cost a fortune.
Angel Investment Simulator
This is our new beta platform to encourage high-net-worth individuals from underserved communities to consider investing in likeminded founders.
We know there are lots of potential investors like this in different communities who haven’t ever considered the possibility of investing. Our programme will introduce them to the idea and educate them on how it works, getting them prepared to invest.
Let’s make an impact together
I want to thank everyone who came to the event and made it such a success.
There are simply too many people to mention everybody, but our heartfelt thanks goes out to everyone that attended, including Daniella Genas at She's The Boss, Vernon Hogg at Birmingham Solihull LEP, Nicola Mapp at SWIG Finance, Barbara Hollyhead at Department for International Trade, Sarah Finny and Julia Streets from Streets Consulting, Paul Jones from British Business Bank and Amy Newton at Inclusive Angels.
Every single person brings a new perspective and different insights, and it’s my hope that the group will grow each time it meets.
So if you're looking to make an impact and open up the world of start-up funding to a wider audience, come on the journey with us and let’s make a difference together.
If you’re interested in attending the next meeting, connect with me on LinkedIn now.
