AWARD YEAR
2023
CATEGORY
Work
GOALS
Decent Work & Economic Growth, Reduced Inequality
KEYWORDS
entrepreneurship, funding
COUNTRY
United Kingdom
DESIGNED BY
Foundervine
WEBSITE
https://www.foundervine.com/
Foundervine
Foundervine help ambitious leaders create, test and sustain entrepreneurial ventures
How does it work?
Our programs help early- and revenue-stage founders significantly grow investor networks, expand business operations and absorb cutting-edge knowledge.
We partner with mission-driven organisations to deliver acceleration programs designed to help diverse start-ups and scale-ups solve real world problems.
nterprise skills are a force for good in all individuals - whether in school, startups or in the workplace. We have delivered training for organisations like University of London and PwC UK.
Why is it needed?
Our vision is a world where ambitious leaders, creators and innovators have the tools to build the organisations of tomorrow. This means that we work to remove the social and economic barriers to innovation, disrupting the status quo in everything we do.
How does it improve life?
At Foundervine, we focus on building a world with no social or economic barriers to innovation. Funding remains extremely elusive for diverse and underrepresented founders. According to an Extend Ventures report that reviewed funding data over a 10 year period from 2009-2019, funding disparity is rampant:
- All-ethnic teams received an average of just 1.7% of venture capital funding.
- All-female teams received just 2.87% of funding compared to 68.33% for all male teams.
- Despite Black and multi-ethnic communities making up 14% population, black founders have received just 0.24% of total investment.
- Black female founders have an even tougher time, receiving just .02% of funding.
It is clear that funding is the biggest barrier to creating inclusive, sustainable new economies. One of our main goals in the coming years is to provide our community with access to funding.