Initial Stats from our Summer Special campaign
Minority founders rule – this is the main takeaway from our July campaign.
To recap – we offered free investability ratings and assessments to 500 UK-based startups through accelerators and startup support organizations, and the outcomes are fascinating.
First, we achieved our goal of ensuring a good spread of founder participants from under-represented demographics, highlighting the difference between entrepreneurial aspiration and the worrying reality of the national investment statistics.
39% of participating companies have a BAME/BIPOC founder
33% have a female founder
58% are based outside London
National investment averages show that only 10-15% of funding goes to businesses with BAME or female founders, and only about 25% to businesses based outside London.
Getting more even representation was already good news. But the best news is that all three of these under-represented groups outperfomed.
BAME is Best: the average rating for a company with a BAME founder was 5% higher than the overall average
Female Founders are Fab: the average rating for a company with a female founder was 0.5% higher than the overall average
The Regions Rock: the majority of regions outperformed London. The average rating for participants from the South West, Wales, North West, East of England, Scotland and East Midlands was higher than the London average.
Food for thought for VCs and angel investors as they look at their portfolios and dealflow pipelines, while we work on more granular analysis to explain the huge difference between average investability ratings and overall national investment statistics.
For now let’s celebrate the success of the under-represented founder in our Summer Special.
We now move on to the next phase – helping scores of businesses with high investability ratings to connect with the best investors to help them thrive and scale.
Our investability rating and assessment gives founders clear and actionable feedback on their investor proposition from an unbiased perspective, all in a comprehensive 24-page report. For a limited time, you can get your assessment and rating for a discounted price of £100. Join the hundreds of startups we have helped to improve their fundraising prospects by onboarding HERE.