1、ReportUnderestimated start-up founders:The untapped opportunity This report is a collaborative effort by Vasanth Ganesan,Ramya Mahalingam,Anil Nathan,Audrey Ware,and Allen Weinberg,representing views from Leap by McKinsey.June 2023Unlocking more funding for underrepresented start-up founders present

2、s a profound opportunity for accelerating innovation and stimulating economic growth in the United States.Despite prevailing societal inequities in the US start-up ecosystem,there is tremendous potential to turn the tide.In 2022,only 1 percent,1.5 percent,and 1.9 percent of total venture-capital fun

3、ding went to Black,Latino,and Women founders respectively.This discrepancy persists throughout various stages of start-up growth.Undervalued and underestimated,these founderswhen given a level playing fielddemonstrate the capacity to outperform their peers.Our research suggests that achieving parity

4、 could yield trillions more dollars in revenue for Black-and Latino-owned businesses,creating jobs and stimulating the economy.Additionally,founders with diverse gender and ethnic backgrounds deliver 30 percent higher returns for investors upon exit than their peers.What is holding underrepresented

5、founders back?Our research indicates that there are four key challenges that disproportionately affect them(see sidebar“Methodology”):Systemic limited access to start-up networks,community support,and resources The need to overcome biases related to founder perception A limited established blueprint

6、 for success A greater need for mental health resilienceAddressing these hurdles is both a necessity for social equity and a valuable economic opportunity.All stakeholders,from individual investors to government entities,stand to gain from the outperformance of diverse portfolios and the untapped po