This week, Peter speaks with Dr. Paul Campbell, Co-founder of Brown Venture Group, and Danielle Steer, Managing Director of Lunar Startups. In 2018, Forbes reported that less than 1% of American venture capital-backed founders are black. Black women receive an even smaller percentage of that figure, all the while they are starting businesses at a higher rate than any other group.
With Brown Ventures’ investment in Black and Brown businesses, and Lunar Startups’ innovative accelerator for BIPOC, women and LGBTQ+ founders, both work to establish a more equitable entrepreneurship ecosystem where everyone has a chance to succeed. Paul and Danielle discuss the progress made by their organizations. They also explain what other leaders can do to transform our region’s startup ecosystem and unleash the true economic potential of the Greater MSP.
Reports referenced:
- McKinsey & Company - Diversity Matters: https://www.mckinsey.com/~/media/mckinsey/business%20functions/organization/our%20insights/why%20diversity%20matters/diversity%20matters.ashx
- Kauffman Fellows - Deconstructing the Pipeline Myth: https://www.greatermsp.org/clientuploads/Resources/Kauffman_Deconstructing_the_Pipeline_Myth_and_the_Case_for_More_Diverse_Fund_Managers.pdf
- Citi Group - Closing the Racial Inequality Gaps: https://www.greatermsp.org/clientuploads/Resources/CLOSING_THE_RACIAL_INEQUALITY_GAPS-The_Economic_Cost_of_Black_Inequality_in_the_U.S.pdf