We wanted to explore the initial phase of the founding journey. How do founders finance their companies? Who do they raise those initial funds from? How much do they raise? How do they decide where to build their companies? What personal and business considerations influence their decisions?
The State Of European Tech Survey
The need for funds focused on diversity is as important as the need for insights and related to diverse founders - and there is zero data on black founders in the UK. This is why I started interviewing black founders and creating a database with their permission. It is important to shine a light on the differences, especially as black founders have become synonymous with a seemingly perpetually fixed 0.2% funded statistic or the fact that 67% of those I surveyed mentioned that they were struggling to meet their needs before starting a company, compared to 19% of the respondents surveyed by Atomico. It’s time that black founders have realistic insights and perspectives as to what it takes to be a black founder and know that there are others in their ecosystem like them. This will hopefully create a clearer path for future black founders and the investors who back them.