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Interview
November 7, 2024
56:04

009 Kenya Burrell-VanWormer & Katherine Winston

What's the Real Cost of Excluding Diverse Founders

In this conversation, Ahmad Ashrafi speaks with Kenya Burrell-VanWormer and Katherine Winston, the founders of Equity Angels, about their journey in the startup space, the importance of diversity and equity in funding, and the creation of their accelerator program aimed at supporting underrepresented founders.

KEY INSIGHTS

Exclusion is a multi-trillion-dollar blind spot. McKinsey data shows funding parity for Black and Latino-owned businesses could add trillions in revenue, and diverse founding teams deliver 30% higher returns to investors at exit.

It's not who you know, it's who knows you. Money can be syndicated and knowledge can be hired, but access to the rooms where the best deals circulate is the real barrier for underrepresented founders.

Soft capital comes before capital. Equity Angels' accelerator focuses on coachability, pitch readiness, and mental wellness office hours, because investors back the founder first and the business second.

Only 2% of VC money goes to women, partly because they don't ask. Perfectionism keeps many female founders from applying until every box is checked; progress over perfection is the mindset shift that changes the numbers.

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