Life isn’t fair. As far as undeniable truths go, this is one of the least inspiring. It does sometimes come in useful, though. A neat little go-to when we are searching for a convenient answer to some of life’s otherwise unanswerable questions. But where do you draw the line between a pragmatic acceptance of the unjust and a weak excuse? What about the times when, rather than answers, we need action?
When it comes to investment into BAME-founded and run tech businesses, the latter is required as a matter of urgency. We delve into this issue and the statistics paint a stark picture. If you are a white company founder you have an instant head start when it comes to fundraising.
It doesn’t help that BAME founders and executives are underrepresented in the tech sector generally and real estate tech specifically. But the issues run deeper and are far more complex than there simply being fewer BAME founders to invest in. Put another way, the lack of BAME representation in tech should not be viewed as an explanation for the funding gap, but rather an element of the same problem and one that needs to be viewed just as seriously.
We spoke to founders and VC investors alike to find out where the root of the problems lie and, crucially, what action needs to be taken to tackle an issue that cannot simply be dismissed as one of life’s insurmountable injustices.
From funding gaps to fund raises, we speak to Appear Here’s Ross Bailey. He reveals that, despite Covid-19 bringing his entire business to a standstill the week after a $14m investment landed in the company bank account, he has never felt more positive about physical retail in the right format.
The future, he says, will be about reinstating elements of our lives that we were left longing for when they were taken away from us. Human connection, real-life interaction, offline shopping and experiences. These are the things, he says, that we didn’t know we would miss so much until they were temporarily shut down. Now Appear Here has grand plans to reach more people with its spaces for ideas as it sets it sights on fresh communities and cities, from Connecticut to Somerset and Stockholm to Berlin.
All of this and more in this section of the Halo Effect, where we bring you the best of EG’s tech and innovation content, including a full list of the winners and a round-up of our third annual (and first virtual) EG Tech Awards and an overview of Europe’s first Wiredscore-certified neighbourhood.
For all of EG’s latest tech news, trends and analysis, visit Halo
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