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Nov 10, 2017

11/10/2017: How to get venture capital into the hands of minority startups

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It’s no secret that the tech industry has a diversity problem. According to data from the Project Diane data initiative, less than 1 percent of venture funding goes to companies founded by African-American women, for example. Marketplace’s Amy Scott talks with Michael Seibel, the first African-American to become a partner at the tech accelerator Y Combinator, about making it a priority to fund companies run by women and people of color.

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The role of accelerators in upping diversity in tech

Nov 10, 2017
Michael Seibel, Y Combinator's first African-American partner, makes the case for talented minorities founding startups instead of working for someone else.
“What's amazing about YC is ... you don't have to know anyone, so there isn't some type of old boys' club," says Michael Seibel, a Y Combinator partner.
Photo by Steve Jennings/Getty Images for TechCrunch

It’s no secret that the tech industry has a diversity problem. According to data from the Project Diane data initiative, less than 1 percent of venture funding goes to companies founded by African-American women, for example. Marketplace’s Amy Scott talks with Michael Seibel, the first African-American to become a partner at the tech accelerator Y Combinator, about making it a priority to fund companies run by women and people of color.

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