Tech Nation Champions Diversity Among UK Entrepreneurs

In 2023, the U.K. government-sponsored Rose Report revealed an astonishing statistic – 150,000 women had ventured into entrepreneurship in the preceding year, a figure that had doubled since 2018. This remarkable surge in female entrepreneurship has not gone unnoticed, with Tech Nation shining a spotlight on this data in the launch campaign for their newest initiative aimed at supporting under-represented founders in Britain. I had the pleasure of speaking with Chantelle Young, the mastermind behind Tech Nation’s Libra program, to delve deeper into the rationale behind the program and the crucial need for robust support for diverse founders in the U.K.

Tech Nation, initially established in 2014 as a government-funded entity with the mission to propel the growth of the U.K.’s tech-driven innovation economy, faced a temporary closure last year due to the discontinuation of funding by the government. However, the entrepreneurial community, Founders Forum, stepped in to revive and continue its operations. Young acknowledges the progress made in fostering a more diverse community of U.K. founders but underscores the necessity for further efforts to be made in this realm.

The cohort of founders participating in the six-month Libra program was carefully curated, with some individuals being recommended by advisers within the Tech Nation and Founders Forum circles. Young emphasizes the active outreach undertaken to engage with potential candidates, aiming to create a dynamic environment where founders can engage in constructive dialogue about the challenges they encounter, offering each other invaluable peer support.

During goal-setting sessions with the founders, the focus is on identifying their aspirations – whether it be securing funding, rebranding, or expanding internationally. This tailored approach not only serves as a compass for measuring the program’s success but also sets the stage for tracking broader metrics such as investment inflows, employment generation, and revenue growth across the cohort over time. Amale, one of the participants, revealed that the prospect of connecting with fellow founders was a driving force behind her decision to join the program, a sentiment that likely resonates with many entrepreneurs seeking to partake in mentoring or acceleration programs.

The allure of the Libra program extends beyond the immediate cohort, with participants also gaining access to a vast network comprising entrepreneurs, investors, and advisers affiliated with the broader Founders Forum ecosystem. This interconnected web of support and collaboration underscores the program’s commitment to nurturing a vibrant community of under-represented founders, fostering an environment where diverse voices can thrive and innovation can flourish.