Tech Nation has selected 35 tech startups to join their second Libra programme for underrepresented tech founders. Libra 2.0 is focused on promoting diverse tech leaders in the UK by choosing companies founded by Black, South Asian, East Asian, and Arab leaders in the industry.
63% of the companies joining have one female founder and 40% of the companies are not based in London. The scaleups operate across 17 different countries overall.
The Libra programme encompasses startups from multiple sectors, including finance, healthcare, clean technology, HR, and education.
The first iteration of the Libra programme successfully raised seed funding for two black-owned companies and six companies were awarded the Black Fund Grant by Google for Startups.
Working again with Cooley, Libra 2.0 showcases scaleups such as Tierra Foods, which converts under-used Central American plants into carbon-negative superfoods, Hormonius Flo which aims to reduce period pain during the menstrual cycle, and sustainable payment solution Fintellity.
Chenelle Ansah, investor at Cornerstone Partners and Libra 2.0 judge, commented: “The Tech Nation Libra programme exists to level the playing field, but we are not yet at the point of equality, and diverse founders historically haven’t been given the space and capital required to succeed. It has been great to see so many amazing businesses led by Diverse founders apply to the Libra programme. With the talent in this year’s Libra programme and the resources available through Tech Nation, I’m confident these startups will scale and succeed.”
Brianna Bao, investor at Simsan Ventures and Libra 2.0 judge, added: “Ensuring diversity in UK tech is key to catalyse a new wave of breakthrough technologies and transform UK economies, societies and our lives. Tech Nation's Libra programme will have my continuing support to attract those brilliant founders who not only help implement inclusion to create an enabling ecosystem but also democratise services and resources in those overlooked markets.”
Chris Coulter, Cooley partner and member of the firm’s diversity committee, stated: “We were hugely impressed by the first cohort of businesses in Libra’s inaugural programme for underrepresented founders, and we are excited by the second group about to start this month. The quality of ideas and level of entrepreneurship we have seen are testament to the huge contribution to be made by the UK’s leading ethnic minority founders. We are proud to play a part in these startups’ journeys and to support the ongoing mission of Libra.”