"UK technology funding remains inequitable, favoring predominantly male founders, with women-centric ventures receiving a mere 2% of venture capital funding as of 2023."
"The exclusion of diverse innovators in tech reflects deeper systemic biases, revealing a need for transformative action to achieve equitable investment and growth."
"With 19% of tech professionals hailing from working-class backgrounds, it's essential to challenge the current exclusionary practices in tech funding and career opportunities."
"Emerging sectors, particularly AI, showcase stark disparities, with female-led startups garnering only 0.3% of total investments between 2012 and 2022."
The UK technology sector, despite being a major hub for innovation, grapples with significant challenges in investment access for underrepresented groups. Female entrepreneurs and those from diverse backgrounds, particularly in high-growth areas like AI, struggle to secure necessary funding. In 2023, all-female teams received only 2% of UK venture capital, while mixed-gender teams managed a mere 12%. The industry, largely network-driven, remains biased against 'non-traditional' founders, reflecting a systemic issue in funding allocations. Addressing these inequities is vital for fostering true innovation and inclusivity within the tech landscape.
Read at ComputerWeekly.com
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