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5 Top Tips for Diversifying Your Network

During Future Forward: Investing in Diversity last week we invited 4 leading lights; Rodney Appiah, Cornerstone Partners, Helen Oldham, NorthInvest, Dama Sathianathan, Bethnal Green Ventures and Patricia Silva, Green Angel Syndicate to share the practical actions and strategies that they have implemented within their organisations to help improve investment in diversity in our ecosystem.

Take a look at their top tips for anyone starting out on improving diversity:

1. Advocacy

Educate your colleagues on the challenges in the space. There is lots of valuable data and information available including the Investing in Women Code and the Alison Rose Review, which you can use to explain why diversity is important and get buy in from everyone. “All your existing Angel members have got the ability to spread the word about the change that’s required” says Helen Oldham.

2. Championing

Create a diversity champion within your team. A diversity champion takes action to ensure your inclusion and diversity objectives are achieved and is the catalyst for change. Choosing someone that people can relate to is important, as people are drawn to like-minded people.

3. Data Collection and Measurement

Seek permission-led, diversity data from first point of contact with founders or investors. Dama Sathianathen shared that many founders are willing to contribute more data to ensure that there is more accountability in the space. Use this data to help set data points and objectives along your journey. You could even use it to be transparent with your stakeholders. Find out how BGV are collecting this data.

4. Partnership

Engage and collaborate with other organisations that promote diversity. There are many angel groups, incubators and accelerators who are already seeking a more diverse and representative investment landscape. Rodney shared that as founders need support from different pools of capital, it is really important to collaborate to help raise the rounds together.

5. Follow best practice guidelines

Follow best practice guidelines from organisations like the UKBAA and BVCA. Diversity VC will also be launching a Diversity Toolkit soon – sign up for more details.

To view the recording of the panel discussion From funnel to funding – diversifying your approach from end-to-end from Future Forward: Investing in Diversity visit: www.ukbaa.org.uk/from-funnel-to-funding-diversifying-your-approach-from-end-to-end or you can view all the webinars from the day by logging into: futureforwardseries.ukbaa.org.uk

Gemma Lakin

By Gemma Lakin22 Jul 2021