Statistics from CB Insights indicate that only about one percent of founders of venture capital-backed startups are black. When Latino or black women are analyzed, there are even fewer of these demographics in founders positions. Often, this occurs due to the difficulty for these individuals to access training programs or networks that can assist them with the steps that need to be taken to obtain startup funding.
Founder Gym Supports Underrepresented Demographics
With many jobs or careers, there is some type of training that a person is able to take so that they gain the knowledge that’s required to be able to perform their job. For example, if an individual wants to become a heart surgeon, they’ll go to medical school, and if they want to become a real estate attorney, they will attend law school. Unfortunately, this hasn’t been the case for people in the underrepresented demographic who would like to be venture startup founders who are capital backed, but that may be changing in the future due to a training program that is known as Founder Gym. The program is the first of its kind, which is creating a curriculum that is tailored towards meeting the needs of underrepresented founders.
Differences Are Strengths
The Founder Gym focuses on the uniqueness of the founders who are in the program. They are taught that their differences are actually strengths. Where they grew up and who they grew up with taught them how to handle certain situations. How they view the world and solve problems was developed all throughout their lives. The founders are taught that this gives them a competitive advantage. Individuals who are from affluent backgrounds don’t have the same life experiences as these founders, and they handle problems in a different way. Founders in this group are taught that this can be an advantage for them as it adds new insight and a different perspective into situations.
Online Network Building
The program is only accessible online, which some thought would make it difficult for networking to occur. Yet, this hasn’t been the case at all. In fact, a great deal of networking has already taken place in the program. By being in the same space and working with like-minded individuals who are also focusing on their dreams, it’s created a passionate community where members of the group support each other through peer training and affinity groups that are held on a regular basis.