The Diversity Data Alliance: Pioneering Standardization in Demographic Data Collection

Seven venture capital organizations focused on diversifying the tech ecosystem have come together to form the Diversity Data Alliance. This groundbreaking alliance, consisting of Diversity VC, All Raise, 2Gether-International, BLCK VC, Somos VC, StartOut, and Vets in Tech, has released a whitepaper that establishes a standard for demographic data collection within the industry.

The motivation behind the formation of this alliance stems from the lack of diversity and representation in the venture capital and entrepreneurship communities. Historically marginalized individuals, including those of different races, genders, sexual orientations, educational backgrounds, and military affiliations, have been underrepresented in these sectors.

While various organizations have been collecting data and publishing reports on the inequities in capital allocation and resource access, there has been a lack of standardization and coordination in data collection efforts. The Diversity Data Alliance aims to address this issue by standardizing demographic data collection and creating a unified data format that will enable better analysis and tracking of trends over time.

Members of the alliance, such as Sarah Millar from Diversity VC and Paige Hendrix Buckner from All Raise, emphasize the importance of measuring diversity metrics to drive meaningful change in the venture capital landscape. Naima Warsame from BLCK VC highlights the significance of data integrity in tracking progress towards diversifying the ecosystem.

StartOut’s Irene Tang and 2Gether-International’s Diego Mariscal also express their excitement about the alliance’s potential to shed light on underrepresented communities, including LGBTQ+ entrepreneurs and founders with disabilities.

Overall, the Diversity Data Alliance represents a significant step towards creating a more inclusive and equitable venture capital and tech ecosystem. By standardizing data collection and promoting data sharing among organizations, the alliance aims to build a comprehensive database that will drive diversity and inclusion efforts in the industry.