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CHANGING THE FACE OF STARTUPS: 'Fostering diversity will drive technology innovation, creativity and productivity and create inclusive economic growth'

ONETECH believes changing the face of startups is a mission that should belong to everyone, so it's developing a new standard to promote, improve and track diversity within accelerators, investors and other tech stakeholders.

The initiative has some ambitious targets for the next two years. These include: supporting 200 female or BAME-led startups or founders, having 50 startups progress to investment or accelerator support, and £15 million in investment raised.

Ultimately, OneTech plans to double the number of female or BAME-led startups raising investment through Capital Enterprise programmes.

Led by London’s startup experts, Capital Enterprise, with support from the JPMorgan Chase Foundation, OneTech works with aspiring founders and startups to connect them with mentors, accelerators and investment readiness opportunities.

Emma Obanye head of delivery from Capital Enterprise said: “The technology sector is critical to London’s economy and at OneTech we will tackle the geographical mismatch between communities that live in east London and the tech world on their doorstep. We want our world-class tech ecosystem to work for all Londoners. Fostering diversity will drive technology innovation, creativity and productivity and create inclusive economic growth.”

Oliver Gregson, head of the United Kingdom and Ireland, J.P. Morgan Private Bank, said: “London’s Silicon Roundabout and the technology sector are at the epicenter of London’s growing economy however the lack of diversity is holding back potential growth. With diversity comes innovation and creativity so fostering diversity is paramount to this sector continuing to thrive in our city. Through our investment and the OneTech programme, minority and female founders will get the help they need to make the best start possible and create successful businesses over the long-term.”

To bring together these communities and London’s startup world, Capital Enterprise has partnered with Tech Nation, Diversity VC, Your Startup, Your Story (YSYS), The Accelerator Network and a number of other actors from the startup scene.

“At OneTech, Your Startup; Your Story are leading on two aspects: First outreach and recruitment to diversify the tech talent pipeline to ensure that under represented founders across East London have access to practical help and support they need to start or scale a tech business. Secondly, we're providing diversity consulting to London's technology accelerators, to foster a more inclusive culture; where diverse founders well welcome,” said Deborah Okenla, founder of YSYS said.

She added: “Diversity drives innovation and through this initiative we can begin to make London's tech ecosystem a truer reflection of its population."

For more information or to apply for support from OneTech, visit www.weareonetech.org.

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