GiveFirst is a core value for all of us at Techstars - a way for us to continually improve the world around us.
We want to ensure that the cycle of giving continues indefinitely and we believe that we, as the tech industry, through a cultural evolution, can fundamentally shift corporate and individual philanthropy. It’s why we’ve partnered with Pledge 1% and created the Techstars Foundation.
The world of startups and entrepreneurship is largely lacking in diversity, yet from our decades of experience, we know that diversity improves outcomes and increases innovation. The Techstars Foundation’s mission is to foster diversity and inclusion throughout the entrepreneurial ecosystem by breaking down barriers to entrepreneurship worldwide. The foundation collaborates with nonprofit organizations, corporations, and individuals throughout the world by providing grants, educational resources, and increasing engagement with the Techstars Network in order to increase diversity in entrepreneurship.
Through our network of thousands of companies and startup programs worldwide, we have a massive opportunity to alter the trajectory of entrepreneurship on a global basis. We believe that it is vital to promote diversity and inclusion early in the life of a startup as the company culture is being cultivated and to weave it into the fabric of company identity. We encourage each founder to be a leader who actively seeks to include people without regard to race, ethnicity, gender, gender identity, sexual orientation, or ability.
A study of 500 U.S. businesses found that companies with diverse teams outperform their less diverse competitors—generating higher sales revenue, more customers, greater market share, and greater profits. Another study found that companies in the top quartile for gender diversity are 15% more likely to perform above the mean in their industry and those in the top quartile for race/ethnic diversity are 35% more likely to outperform others in their industry.
That’s why Techstars is working to improve opportunities for women and underrepresented minorities throughout the global ecosystem and to be a leader in inclusive entrepreneurship. We know that diversity not only brings diverse perspectives and a wealth of innovative ideas but the potential to outperform less diverse companies.
We are committed to actively breaking down barriers to entrepreneurship. After all, if you’re not part of the solution, you’re part of the problem. #GiveFirst #GivingTuesday
Originally posted: November 27, 2018
