In March, The Commons QV members The Creative Co-Operative released a report that revealed that less than 0.03 percent of venture capital funding in Australia went to early stage Black, Indigenous and Women of Colour (BIWOC) founders.
The first of its kind, the report highlighted the barriers faced by Women of Colour (WOC) in the start-up ecosystem, citing racial discrimination, gender bias, lack of mentorship and information about funding sources as the main factors at play.
Combined, these barriers contribute to painting a larger picture which is a serious lack of cultural diversity in the workplace. In particular, the leadership space, of which the report notes is made up of only 3 percent of chief executives and 5.1 percent of senior corporate leaders from a non-European or Indigenous background.
Released just shy of the two year anniversary of the death of George Floyd in May 2020 – and the following global rise of the Black Lives Matter movement which saw brands and corporations publicly decry racism – the report’s findings beg the question:
just how far have we come in putting an end to discrimination in the workplace? And how can businesses and employees be better allies?
Priyanka Ashraf, founder and director of The Creative Co-Operative, said that while she knew racism, inequality and systemic barriers have long existed in the Australian start-up space, the report’s findings felt “validating”.
“The level of inequity we experience (and amongst Bla(c)k Women and WOC we do not experience inequity the same) is not recognised collectively in society.”
“Anecdotal evidence isn’t as meaningful in the West, though it should be. At least now we have the data which is in the language of decision makers and can directly inform decision making.”
Ashraf says her drive to support the start-up community – which she herself has worked in since 2016 – was inspired by her own parent’s experiences.
“My family (from my Baba’s/father’s side) hails from very humble beginnings in Chilmari, Rangpur.”
“We have come out of the intergenerational trauma of war and my parents dedicated their lives to supporting the community and to giving my siblings and I a better future, which we enjoy today.”
But it wasn’t until George Floyd’s murder that Ashraf decided to channel her experience and voice for corporate change, founding #ShareThePlatform – Australia’s first anti-racism campaign targeting the start-up space.
Ashraf says the campaign “finally started a conversation in the space”, adding that prior to #ShareThePlatform, the ecosystem was “blissfully unaware of the fact that it had a race problem.”
However, she quickly learned that if she wanted to create real, on-the-ground change, she needed to shift the conversation into action.
“I established The Creative Co-Operative with an audacious but specific goal – to move $700 million in the next 10 years into the pockets of our communities as a way to reverse the intergenerational financial inequity that is disproportionately experienced by them.”
Australia’s first 100% WOC owned, led and operated start-up agency, The Creative Co-Operative exists to “challenge systemic racism by driving better economic and social outcomes for WOC through the creation of paid work and capacity building”.
“Initially, we primarily worked with creatives,” says Ashraf. “Within one year, with $0 to start with, we generated over 200 financial transactions and opportunities for the community, and were recognised as Community Hero of The Year 2021 in SmartCompany’s Smart50 Awards.
However, prior to the release of the report, Ashraf says that getting a “buy-in” from decision makers was “extremely difficult”, but that there’s since been progress in the space.
“Now? There is movement. So I am optimistic,” she says. “However at the same time, the issue is being deprioritised.”
“We’ve had some sponsors decline to continue to sponsor some of our initiatives as they’ve prioritised supporting organisations fighting climate change instead.”
“It’s quite difficult as a WOC to be on the receiving end of such news from a sponsor because the message is clear ‘racial justice can wait because it is not a priority issue for us to get behind’. Neither issue can wait because there is no climate justice without racial justice.”
When asked how businesses and employees can better support WOC in the workplace, Ashraf says the first step is education.
“Without understanding the space, using your voice can be counterproductive,” she says. “There are plenty of great educators around and anti-racism training. Centre the voice of Bla(c)k Women and WOC whilst also remembering we are not a monolith and do not experience oppression the same way.”
“And when we talk about driving equity, it means giving something of value up so somebody who doesn’t have access can have access. Before engaging in the space, consider – are you willing to give something up? Whether or not anyone else is watching?”
As for people in leadership roles, Ashraf says putting financial support behind building a diverse and inclusive business is essential.
“Bla(c)k Women and WOC are experiencing representation burnout [the feeling of exhaustion and isolation that comes from being the only person of a particular identity in an environment] and they need support from their employers.”
“My advice would be for decision-makers to set a budget to address this deep-seated issue and recognise this is work and it needs to be paid for.”
“It’s not in the job description of your staff who are Bla(c)k Women and WOC to perform this work unpaid, on top of their existing job. Requiring them to do so directly contributes to the widening of the pay gap of peoples historically exploited due to colonisation.”
“And for a final specific tip, if you’re a speaker, don’t say yes to panels that don’t have Bla(c)k Women or WOC speakers on them (and are paid to speak). If you’re a guest at an event, let the organiser know you won’t attend unless they have Bla(c)k Women of WOC (paid) speakers.”
You can find Priyanka Ashraf and The Creative Co-Operative at The Commons QV. To learn more about the work that the team does, check out their website.
Alternatively, if you’re looking for specific ways to show your support, The CCO are running the first program in the history of Australia that is 100% by and for Bla(c)k Women and Women of Colour to support their access to the start-up ecosystem. They’re looking for:
- Video: Co-Conspirators to help them pro bono with 2×2 minute videos
- Writing: Co-Conspirators to interview our founders participating in the program to share their stories with the world
- Sponsorships: The CCO are launching Cohort 2 of their program in Sydney on June 23rd, 2022, and are asking for contributions to their gift bags as a contra-sponsorship or donation
You can get in touch with Priyanka at priyanka@thecco.com.au