California is working on passing SB 54, the nation’s first legislation to increase diversity in venture capital. In California, venture capital investments do not reflect the state’s diversity, according to the bill. It states that companies founded or co-founded by women receive far less investment funds than companies founded by men. Additionally, companies founded or co-founded by people of color receive far fewer investment funds than companies founded or co-founded by white people. Black founders have long faced challenges securing funding for their businesses, with VC funding dropping by 36%
The Migrant Accelerator (TMA), a Germany-based, early-stage startup accelerator for founders with a migration background, including Black, Indigenous, and people of color (BIPOC), has just announced its first cohort of 10 startups. TMA aims to create a softer landing and sense of belonging for BIPOC founders who encounter discrimination on a structural and individual basis. “Migrant founders in Germany are overlooked and underfunded,” said Laila Zohaib, Stuttgart-based startup coach and investor relations manager. “Since the 1960s, migrant led-businesses have served as the backbone of the local German economy and are
