Silicon Valley’s ‘500 Startups’, a seed and accelerator programme that has already backed up to 50 new enterprises in the UK, has set up in London with the Launch of ‘Distro Dojo’, a new three-month programme for ‘post-seed’ startups.
The programme will focus aggressively on growth, in a bid to help bridge the gap between seed funding, of which there are already a number of providers, and the so-called Series A ‘crunch’.
Distro Dojo will accept around 20 startups in the first year and, as part of the programme, will make investments in the £100,000 to £200,000 range, although the size of equity taken will vary and be on a deal-by-deal basis. However, this is likely to be around three to seven per cent, depending on each startup’s valuation.
Meanwhile, although Silicon Valley is acknowledged to be the ‘super centre’ for startups the world over, new research has found that startups in the UK are more diverse than their US counterparts.
According to a new report, women hold almost one third of senior startup roles in the UK, which is five times as many as in the States. In addition, the report found that a third of startup leaders in the UK were born abroad and are 10 times more likely to be non-white and non-Asian than in Silicon Valley.
Moreover, it appears that British entrepreneurs recognise the value of diversity to a business, with 78.9 per cent saying it had helped them compete, 75 per cent saying it helped them overcome challenges and 71.5 per cent that it had helped them find new markets.