23. The Changing Landscape of the Tech Industry: Diversity

Chris Castle continues his conversation with Claire Lee, the head of the early stage group at Silicon Valley Bank. In this half, Claire begins by providing hard data that indicates companies which are founded by individuals from diverse backgrounds are wildly profitable. She goes on to say that conversely, the members in the top VCs firms are of a disproportionate make-up. She concludes that in order for more funds and ancillary services to be available to start-up founders, the individuals distributing the capital also needs to change, in order to give everyone a fair shot at success.

Claire goes on to point out that in addition to money, mentorship is a valuable (and limited) resource in Silicon Valley. A good partnership with a VC includes them granting access to advisors, potential board members, and potential customers. Her passion extends beyond just funding good ideas; it's about making connections between people and helping them to grow.

The episode concludes with advice and encouragement for anyone interested in founding a start-up. If you feel that you can solve a problem in ways that no one else has before, that passion will manifest itself into an opportunity in one way or another, whether that's within a start-up accelerator or in a digital community. Surround yourself with people who believe in you.

Links from this episode

Several resources for founders just getting started with their idea were mentioned on this episode:

• Startup Grind
• Tech Stars
• Endeavor Global

For legal assistance, the following firms were offered:

• Cooley
• WilmerHale

For staffing, Atrium was one option which Claire named.