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Startups run by women of color need money from investors, not empty platitudes - Business Insider

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'What we don't need is another white person saying 'Yes, Black Lives Matter' or 'our company rejects racism.' What we do need is more investors willing to ask: what can I do to change the way things are actually run?' - Stephanie Lee businessinsider

on fundraising for women-led startups bears this out. The survey highlights the bias women founders experience, which ironically starts with their pitch decks.

Despite these biases, women were the leading force driving the 2008 recession recovery. A 2017 American Express survey found ain the rate of Black woman-owned business creation from 2007. The Kauffman Foundation also found that between 2014 and 2019, the number of women-owned businesses grew by 21%, while the number of women of color firms doubled that rate at 43%.

Those stats smack you in the face when you are a BIWOC trying to raise capital for a brand that is being built with the very intention of serving your peers. The rejections cut especially deep for us and for our mission to expand mental health education for Gen-Z women and women of color — a— while making the critical connection between beauty and emotional health sciences.

 

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businessinsider Agree, and change things in many ways. Diversity of thought is desperately needed, which comes from people with different backgrounds and expertise. Anti-racism will be a long journey for many people.

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