What is at stake?
We defined the concepts of diversity and inclusion in the document
Why is this important ?
It is well established that a diverse team will perform better. As highlighted in the McKinsey report (2020), organizations that demonstrate inclusion enjoy better financial performance and are more capable of attracting and retaining top talent. For example, some funds have recently committed to implementing a diversity and inclusion clause in their agreements under the impetus of Tech Your Place (see the article on this subject).
Thus, neglecting diversity and inclusion in startups poses multiple risks and affects all aspects of the company: business performance, team engagement, and more. It is never too early to start addressing these issues.
3 actions to implement right now
1️⃣ Educate the team about biases
Raising awareness about biases is an ongoing effort, as initiated in the document
2️⃣ Rédiger un premier document qui structure la stratégie de Diversité et Inclusion
- At the beginning of the document, clearly explain why it is necessary for the company to implement a D&I strategy. Who is initiating this action? Is it a reactive (in response to an event) or proactive strategy?
- Identify opportunities related to this strategy within the team and select from this list the priority elements. These elements will demonstrate the value created by such a strategy. Examples: increasing team engagement, better understanding customer/consumer needs, etc.
- Plan the frequency of document review.
- Conclude by writing a D&I Statement
A D&I statement (Diversity and Inclusion statement) is a public declaration that an organization makes to express its commitment to diversity and inclusion.
At this stage, it is not necessary to have a definitive D&I statement; on the contrary, like the mission, the D&I Statement is iterative: the most important thing is to start by drafting a rough outline and iterate gradually on this subject.
“Diversity makes for innovative teams. LabGenius is an equal opportunity employer and we do not discriminate based on gender, race, color, religion or belief, national origin, age, sexual orientation, marital status, disability, or any other protected class.” (LabGenius)
3️⃣ Set measurable goals
📚 To go further
📖 Diversity & Inclusion in Tech : A Practical Guidebook for Entrepreneurs
📖 Galion Gender Agreement : 45 guidelines for diversity in tech
📖 Diversity Wins : How Inclusion Matters (McKinsey, 2020)
📖 Diversity, Equity and Inclusion Lighthouses 2023 (McKinsey, 2023)
📖 Inclusion Framework (Journal of Management, 2011)
This framework defines inclusion as a combination of a sense of belonging and respect for individuality.
📖 Les startups, la diversité et l’inclusion (2022)
Study conducted by Diversidays in collaboration with PwC France and Maghreb and Occurrence for the Tech Your Place movement.
⚡ Le projet (UN)BIAS par SISTA
The (UN)BIAS project combines an artistic installation, awareness campaign, and scientific experience in collaboration with the CNRS (National Center for Scientific Research). The objective of the (UN)BIAS project is to highlight the cognitive biases that underlie systemic discrimination in our society.
The study of biases is an integral part of the work of SISTA and SISTAFUND. On June 13, 2023, SISTA unveiled its new traveling project, (UN)BIAS, aimed at raising public awareness of cognitive biases and stereotypes, in partnership with CNRS and artist Yena Yung. The project was then presented at Vivatech and will continue its journey at various events in France.
Natacha Brami, VC Associate @ SISTAFUND
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