DivInc help underestimated, disadvantaged young people launch startups

by Startacus Admin

Young people from underestimated, disadvantaged backgrounds are a reportedly 87% less likely to found their own startup business. DivInc are on a mission to change that stat and to help young people get a headstart on their entrepreneurial journey...

Starting a business is a difficult endeavour. It’s a near-constant uphill battle. Starting a business as someone who is part of group that isn’t already highly represented - i.e. if you’re not a white man, particularly with the ‘right’ accent and a ‘good’ background - can seem nearly impossible.

Young people from underestimated, disadvantaged backgrounds are 87% less likely to found their own startup; a huge statistic in a climate where starting a business is already still not something many people seriously consider.

Given how often we write in our own articles that any given problem is ‘once again up to startups to solve’, the world missing out on everything these people have to offer is as bad as them missing out on everything the startup world has to offer.

Jay Richards, founder of DivInc, was a part of that statistic and saw from the inside how much harder it can be for disadvantaged young people to struggle through starting a business. Like so many of the world’s most successful founders - like Steve Jobs, Elon Musk, or Jeff Bezos - Richards is the son of migrant parents.

In school, he was involved in robbery. At 28, he is the CEO of a social impact business and a Forbes 30 Under 30 social entrepreneur. The reason for this course correction, he says, is his school Business Studies teacher inspiring and guiding his sense of entrepreneurship.

It’s of little surprise, then, that Richards’ business is aimed at doing the same for others, to help young people get a headstart in their entrepreneurial journey, to help underestimated (women or those from low-income or ethnic minority backgrounds) 11 to 18 year old students launch their own startups by inspiring, equipping, and funding their ideas.

In 2019, DivInc is working with 7 schools across London, reaching about 6,500 students. Students with business ideas which have the potential to impress investors and funders are given an opportunity to work with mentors and gain connections which they otherwise might not have access to.

Online, they have a 3-month incubator with resources, talks, and lectures recorded with various entrepreneurs and creatives. Students can access this during their business idea formation phase, after which they prepare a video pitch for DivInc. The best ideas are then selected and given a chance to pitch for funding in front of investors at their demo day.

By September 2019, DivInc will be working with over 78,000 students across the UK. That’s 78,000 underestimated potential founders and entrepreneurs. That’s 78,000 more chances at groundbreaking, world-changing startups. We think that’s good for everyone. Everywhere.

 

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• #students
• #diversity

Published on: 26th May 2019