When it comes to representation and funding for minorities in the startup world, the numbers are sobering. Less than 3% of venture capital goes to female led startups, while just .02% (you read that right) goes to startups led by women of color. And there are so few Hispanics given the opportunity to lead a company or acquire capital, there aren’t even statistics for them.
That’s why the work of organizations like Project UK (United Knowledge) are so critical. In the latest edition of Series A – The Podcast, we travel to Kansas City to visit with Quest Moffat, founder of what he dubs a startup studio.
It’s far more than just an accelerator. Moffat outlines how Project UK is working to provide resources to founders struggling to validate their business ideas, by providing capital and counsel to aspiring entrepreneurs, especially those of color.
In a frank discussion with Microsoft technical evangelist Jordan Svencara and producer/correspondent Josh Kerns, Moffat details the radical approach and breakthrough successes Project UK has fostered by bringing capital and knowledge to those who otherwise be shut out. And he outlines why huge advances in breaking down barriers are happening in the Silicon Heartland, not the Valley.
“Looking at the deals, our deals in Kansas City were holding the same percentage of investments into women and people of color as Silicon Valley, Boston and New York. And so we took it upon ourselves to say ‘what can we do to solve it’,” Moffat says.
Listen now for thought provoking insightsinto into the challenges facing minority founders, and the innovative solutions fostered by pioneers like Quest Moffat at Project UK in Kansas City in the latest edition of Series A – The Podcast