Updating Our Commitments
In July 2020, Techstars committed to seven initiatives intended to make us a more diverse, equitable, and inclusive company. Follow here for updates on our progress.
Techstars Employee Diversity
In September 2020, we looked at race and ethnicity among our 228 US-based employees (because tracking this information is not always legally feasible outside of the US). At that time, 15.3% of these employees identified as being racially or ethnically diverse.
As of the end of 2023, we can report significant progress. 33% of our 263 US-based employees identify as being racially or ethnically diverse (excludes anyone who selected "prefer not to disclose").
Of our 24 US-based Managing Directors, 42% identify as racially or ethnically diverse as such compared to 17% in 2020 (excludes anyone who selected "prefer not to disclose").
We are able to track gender diversity globally so we wanted to share that as well. At the end of 2023, 52% of Techstars employees worldwide self-identified as women and 47% as men.
Here is a look at the ethnic and racial diversity of our US employees:
2020
2023
79% White
2% Black or African American
5% Asian
5% Latinx/Hispanic
3% Two or more
6% Prefer not to disclose
62% White
8% Black or African American
10% Asian
10% Latinx/Hispanic
5% Two or more
5% Prefer not to disclose
Note: At present, this report only reflects data on our 263 US employees due to the varied restrictions and regulations about collecting personal data in the many non-US markets in which we operate. Therefore, it excludes 65 employees in other locations.
2020 Commitments
2022 Commitments
Our 2022 Commitments remain the same but have been updated with data from the end of 2023.
1. We will publish our diversity
statistics.
In order to measure our efforts we will collect more data and report our progress bi-annually.
1. We will publish our diversity statistics annually.
Our diversity statistics on this page as well as our main Diversity Equity and Inclusion page have been updated with Year End 2023 information as of March 4, 2024.
2. We will invest in 1,000 CEOs from underrepresented groups.
Accelerator programs give startups access to education, network, and capital. We will invest in at least 1,000 CEOs from underrepresented groups through our accelerators by 2026.
2. We will invest in 1,000 CEOs from underrepresented groups.
From 2021 through the end of 2023, we have invested in more than 1,150 CEOs from underrepresented groups through our accelerator programs.
Techstars currently defines “underrepresented in entrepreneurship or technology” as individuals meeting any one of the following
In the US:
Over 40 years old, Woman, Non-Binary or Gender-Nonconforming, A person identifying as part of the LGBTQ+ community, A military veteran, A person living with a disability, An immigrant, A refugee, A person identifying with any of the following racial or ethnic categories, in the US:
American Indian or Alaska Native
South or Southeast Asian
Black or African American
Hispanic or Latinx
Native Hawaiian or Pacific Islander
Two or more of the above categories
Outside of the US:
Over 40 years old, Woman, Non-Binary or Gender-Nonconforming, a person identifying as part of the LGBTQ+ community, a person outside of the US identifying as being part of a minority race or ethnicity in their home country, a person living with a disability, an immigrant, a refugee, a person from a country in Africa, a person from a country on the United Nations' list of least developed countries
3. We are committed to having our highest level of leadership represent the diversity of the communities we serve.
To this end, we will fill our current open board seat with a person of color.
3. We are committed to having our highest level of leadership represent the diversity of the communities we serve.
In 2020, our board of directors was 20% people of color and 20% women. In 2022, our board of directors was 30% people of color and 40% women.
As of the end of 2023, our board of directors includes 43% women. While we currently do not have a person of color on our board, when we have an opening we are committed to recruiting candidates who represent the diversity of the founders and the markets we operate in.
4. We will commit to
a more diverse leadership
and management team.
We are committed to having our leadership and management teams represent the diversity of the communities we serve.
4. We will commit to a leadership and management team that reflects the diversity we see in the world.
Over the past several years, Techstars has had numerous appointments to its executive leadership team. In 2020, the ELT was 42% women and did not include any people of color.
We are proud of the fact that as of December 2023, the ELT is comprised of 63% women and 25% people of color. Representation starts from the top and this executive leadership team is unified in its commitment to creating an inclusive environment with a diverse team that represents the portfolio companies and the entrepreneurs we serve.
5. We will create an employee donation matching fund for causes that combat racial injustices and support diversity.
5. We will create an employee donation matching fund for causes that combat racial injustices and support diversity.
We established this fund in 2020 and continue to match our employees who wish to support these important causes. We have already expanded the fund, based on employee preference, and will continue to encourage employees to engage in giving and volunteering in the future.
6. We will support
our employees.
We will create an internal program that allows Techstars to match employee donations to causes that combat racial injustices and support diversity. and continue to invest in DEI training, have an external organization audit equitable pay practices, and help us clearly define what success.
6. We will improve employee policies and practices.
At Techstars we are committed to fostering an inclusive culture and work environment that values diversity in every form. Diversity, equity and inclusion is embedded in our operating mechanisms and human capital processes. As seen in the employee data at the top of this page, we have made good progress in our inclusive recruiting practices since 2020. We require diverse candidate slates for every open position and access diverse candidate pools through partnerships with a number of external organizations that focus on underrepresented groups (including HBCUvc, HBCU universities and other associated groups).
To ensure that we are increasing representation at every level including the leadership pipeline, we are very focused on, and measure diversity in our annual promotion process. Also in 2023, we partnered with Paradigm, a global leader in DEI training and expertise, to deliver inclusive culture and leader training for all of our employees and leaders globally.
7. We will continue to invest in Black entrepreneurs through the Techstars Foundation.
The Techstars Foundation has invested more than $1 million and helped 30 nonprofits deliver scalable impact for entrepreneurs from underrepresented communities. This work will continue.
7. We will continue to invest in Black entrepreneurs through the Techstars Foundation.
Since 2015, and as of the end of 2023, the Techstars Foundation has donated more than $2.6 million to more than 70 nonprofits delivering scalable impact for entrepreneurs from underrepresented communities. It’s an incredible group of organizations, the majority of which are helmed by black and/or brown leaders.
