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Capital alone does not guarantee competitive success. It relies on building an ecosystem that brings a variety of voices and ideas to the table. The innovation economy is making some progress to include entrepreneurs and investors with diverse backgrounds and experiences, but we must do more to put words into action if we are to make significant headway on diversity, equity and inclusion within our sector.
Erin Platts, Head of SVB UK & EMEA
How UK Scaleup Leaders are Driving Growth
Striving for diversity, and especially leadership diversity, is not only a question of social justice but also a vital growth decision for businesses.
According to a study by McKinsey that spans 15 countries and more than a thousand large companies, there is a strong relationship between diversity on executive teams and financial outperformance. In fact, the study showed that businesses with diverse leadership teams were likely to outperform their peers by up to 36%.
Another study by Harvard Business Review shows that teams with inclusive leaders are 17% more likely to report high performance, 20% more likely to make high-quality decisions, and 29% more likely to work collaboratively.
The case is clear – diversity increases profits.
There’s no shortage of statistics highlighting the D&I issue we have in the scaleup and investor communities, especially when it comes to senior leadership.
But just reporting on these dire statistics isn’t going to fix the problem – we need to start taking action to solve it, which is exactly what we cover in this exclusive report.
Why should we care and why now?
In this report, we’ll be focusing on:
- Why D&I should be seen as a growth enabler, not just a tick box exercise.
- The investors, VC’s and scaleup businesses who are driving real change in this area.
- The 3-point action plan and best practices that the scaleup community can learn from.
Read the full report here