00

Key Findings

01

Fast-Forwarding The Culture

1.1 A Foreword by Andy Davis

1.2 A Foreword by Anika Henry

02

The Founders

2.3 Race and Ethnicity

2.4 Sexual Identity

2.5 Ability Identity

2.7 The Emerging Ecosystem of Choice for Black Founders

2.8 Where's Home?

2.9 Educational Achievement

2.10 Higher Education: Home and Abroad

2.11 University

2.12 Academically On Par

2.13 One Third STEM

2.14 Overachievers

03

The Making of a Black Founder

3.1 Household Composition

3.2 Family Composition

3.3 Parent’s Academic Backgrounds

3.4 Class Identity and Its Impact on Opportunity

04

Black Founders Build Diverse Teams

4.1 Black Founders Are Serial Founders

4.3 Handling The Hustle and Mental Health

4.4 Founding Team Size

4.5 Gender and Founding Teams

4.6 Length of Co-founder Relationships

4.7 Founding Team Skillset

4.8 Black Founders Are Job Creators

4.9 Gender Diverse Teams

4.10 Representative Teams: Sexual Orientation

4.11 Ethnically Diverse Teams

05

Their Startups

5.1 Where Are Black Founders Based?

5.2 Business Maturity and Stage

5.3 Business Types

5.4 Industries Types

5.5 Early Business Support

06

Funding

6.1 How Much Have They Raised?

6.2 Self-Funding and The Friends and Family Round

6.3 Black Founders and Grants

6.4 Black Founders and University Grants

6.5 Black Founders and Angel Investors

6.6 Black Founders and Venture Capital

6.7 Black Founders and Startup Loans

6.8 Black Founders and Crowdfunding

6.9 Angel Syndicates, Banks and Family Offices

6.10 The Diversity of Investors Currently Investing in Black Founders in London

07

Contributors

7.1 Behind The Black Report

7.2 Acknowledgements

08

Resources

8.1 Black Organisations and Communities in the UK

8.2 Funds, Angel Networks and Accelerators Focused on Black Founders

8.3 Newsletters and Insights on Black Founders

8.4 Venture Funds in the UK

8.5 Black Venture Investors to Connect With

8.6 Black Super Connectors to Connect With

8.7 Lists of Organisations, Angel Investors and Accelerators in the UK

8.8 Live Fundraising Opportunities

8.9 Resources for Founders at Early Stage

09

Footnotes

10

Glossary