By Marcy Capron, Partner/CEO, & Annie Passanisi, Director of Marketing & Events, @ Polymathic
-------------------------------------------------------------------
Consulting firms, dev/fabrication shops, agencies – what are you doing to help underserved founders? In an age where technical sweat equity is dead, founders are turning to us to act as their CTOs/technical cofounders. This positive change for us negatively pushes some already-disadvantaged groups further away.
Women. Veterans. Minorities. The Disabled. Founders exists among them (lots of them!) but often come to the table with fewer funds and resources to build their products. This makes it much harder for them to bring their dreams to market - which, in turn, feeds the highly publicized idea that startups are a wealthy, lucky white men’s game.
The software and hardware communities can impact huge change thing this way. At Polymathic (a consulting firm), we’ve recently implemented multiple measures to be more active with the underserved so that the Product and Service Economy can become more diverse. Where does your company stand in making pro-diversity progress?
It’s time for all of us to put our money where our mouths are and to take bold stances toward evening out the ranks. We’ve all sat through dozens of meetings begrudging the lack of diversity in founder and tech culture - but are too rarely pressed to brainstorm and enact solutions, to be the change, to pave the way for new founders.
Here are five, relatively easy ways to start serving:
1. Mentor in less than usual places. Reach out to veterans’ associations, womens’ groups, and organizations like Asian Human Services or Paseo Boricua. Sign up to teach best business practices, programming skills, or introductions to the start-up scene. We at Polymathic make sure to publicize our open office hours within the Humboldt Park community (where our office is) and are going to continue to reach out to other West Side neighborhoods, as well as various women’s and veteran’s groups.
2. Be truly accessible. Make sure your office is both ADA compliant (your landlord should be open to this conversation!) and comfortable for guests with disabilities. Find a sign language interpreter, braille printer and disability liaison you trust - and keep their contact information handy. We are starting a monthly Taking The Leap workshop and will have anyone necessary on hand to make sure everyone can enjoy and learn more about becoming an entrepreneur.
3. Offer a credit or grant. At Polymathic, we’ve recently instituted the Stepladder Credit – a significant starting credit for minority, female, veteran and disabled founders. If you can afford to give actual grants not attached to your service offerings — which we look forward to doing as soon as we are able — even better! Help a veteran with state/federal incorporation fees, a woman get supplies or hosting necessary for her product, or a pay for the plane ticket an African American founder needs to attend a pitch event. There are so many ways that reasonable amounts can translate to highly-effective service.
4. Up your generosity’s diversity. Quite possibly the largest challenge we see affected founders face is the lack of direct funding (investment or crowdfunding contributions) for their projects. Looking to back a project or product? Consider seeking out brave, bold new ideas backed by atypical founding teams. Soon perhaps they won’t be so atypical! We backed an Iraq veteran’s amazing product on Kickstarter this month and we are SO excited to receive our locally-produced chair!
5. Expand your social circle. Extend your networking options and avenues beyond your comfort zone. Reach out to people with whom wouldn’t normally engage. Attend events that aren’t normally up your alley. Ask lots of questions and be open and encouraging - who knows what you might inspire! Chambers of Commerce/business districts already serving any of the groups at hand are a good place to start. And if you are looking to help women and you’re male... well, turn to one of us (the authors of this post are waving!) and we will help you figure something out.
We challenge all consultancies, shops, agencies etc. to think about how they can help the underserved get their products to market. Supporting these groups is a perpetual win-win-win-win scenario - aiding new founders, drumming up new business, stirring up the economy and creating jobs, and bringing fresh and engaging new products to market!
So, with all that in mind, we ask you again - what are YOU doing to help underserved founders? Feel free to share your ideas in the comments. (You may also attract the perfect minority, female, disabled, and/or veteran person that is looking for exactly what you’re offering!)
.jpg)
