Plug and Play has established a dedicated diversity, equity, and inclusion initiative called DRIVE (Diversity, Respect, Inclusion, Visibility, and Equity), designed to develop, assist, and provide better access to funding for diverse founders, and educate our broader ecosystem on the importance of DE&I and how it fuels innovation.
The success of this initiative will be achieved through a community-centric approach bringing together all stakeholders needed to build a thriving ecosystem for diverse founders and communities nationwide. This framework allows innovation to work as a great equalizer.
Only 2% of all venture capital is deployed to diverse founders – we're on a mission to change that via this community-centered approach.
• Build Community
• DE&I Tech Solutions
DRIVE supports founders coming from the following backgrounds:
- Black/African American
- Middle Eastern
- Native Hawaiian/Other Pacific Islander
- Persons with Disabilities
Addressing funding dedicated to diverse founders
"A small slice - 2.6% of venture dollars went to minorities and 2.2% went to women - that’s $4.2bn out of a $87.3bn pie. According to Project Diane, as of January 2021, only 93 Black and 58 Latinx women have ever raised over $1M." - Forbes
Whether its difficulty securing funding, accessing mentors, finding customers or a lack of social capital, diverse founders often face more obstacles and higher barriers to entry on their path to success.
Through our experience running accelerator programs worldwide and speaking to thousands of entrepreneurs every year, Plug and Play has a front-row seat to witness the challenges faced by founders and we're on a mission to change that via this community-centered approach.