Yes We Code chat 24: Do Minority Led Startups Always Have To Save The World?
Sunday July 26th 2015
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More and more companies are creating products and services for social good. From well known shoe companies like TOMS to local businesses promoting giving back to the community, the idea is a good one that can only continue to better the world we live in.
But what happens when creating a social good business is assumed, especially for minority entrepreneurs? I recently attended a dinner for minority entrepreneurs where got to talking about the assumption that minority founders are supposed to create startups focused on “social good.” During the conversation, we agreed that this expectation is not only a problem, but creates mixed messages for minority led startups. On the one hand, we’re supposed to be focused on making money and have an investment worthy business model. On the other hand, we’re supposed to do “social good” and create something that gives back to the community.
I have no problem with creating businesses for social good. I’d love to see more companies working to improve the world. The challenge I find with this notion is that this seems to be the companies that not only get funded, but this message is encouraged over and over again.
Funding sites like Kapor Capital focus on social good and that’s a positive, necessary thing, but how can we create companies that are profitable and may – or may not be – focused on social good? We’ll discuss this and more during the next yes we code chat.
Some questions to think about:
- What does “social good” startups mean to you?
- Do you feel a responsibility to “give back” via your company?
- Have you run up against funding obstacles because you’re not a “social good” startup?
- What do you think of startups like Tom’s shoes, who position themselves as social good?
- Do minority led startups always have to save the world?
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