Top London Startups Led by Ethnic Minority Founders
Several years, people from the BAME community have been avoided and shunned when it came to entrepreneurship. After much struggle and movements conducted by the BAME community, the world has developed an appetite to accept and support them. This blog describes everything—what is BAME, what is the BAME community, and what BAME stand for—to understand the importance of BAME founders in London.
Top London Startups Led by Ethnic Minority Founders
Today’s world is the most refined and civilised as many people and governments worldwide are standing up for the entire humanity today and for years to come. This was not the case back in the late nineteenth century when Whites and other majority races, such as Italians, Germans, and Scandinavians, dominated almost any type of business regardless of size and location. Even places with a significant population of black people, Asians, and other minorities were hegemonised by mostly White and European businessmen.
There is a new term for an upward trend in entrepreneurship, and it is about creating a whole new world of opportunities for everyone across the globe. Is it diversity in the workplace? No. Is it a genderless approach toward leadership and entrepreneurship? No. You might not have heard about it yet as it is still inchoate and needs more prominence, which is, of course, clearly imminent. This blog explains and sheds some light on ethnic minority (used to be BAME but not anymore) entrepreneurs in the UK and some of the revolutionary startups in London to watch for in 2022.
First Things First: Why Do We Say “Ethnic Minorities” instead of BAME?
First off, what is BAME? BAME is an acronym that stands for Black, Asian, and minority ethnic and is predominantly used to refer to members of non-white communities in the UK. But, “in March 2021, the Commission on Race and Ethnic Disparities recommended that the government stop using the term “BAME” and instead suggested using “ethnic minorities”. This decision’s primary reason is that they emphasise certain ethnic minority groups (Asian and black) and exclude others.
London-based startups led by Ethnic Minority Entrepreneurs in the UK
Entrepreneurs in the UK who are from ethnic minority groups have come through an arduous journey—from setting up a new business to attracting new investors and customers to their businesses. Although the number of ethnic minority founders in London is comparatively small, the value and contribution of their products and services are unquestionably formidable. Here are the top five startups led and found by ethnic minority groups in London:
Impact X Capital
Type | Private Ownership, LLP |
Industry | Venture capital |
Founded | 2018 |
Founder | Eric D. Collins |
Headquarters | London, the United Kingdom |
Impact X Capital is a double bottom line venture capital firm founded by Eric D Collins to support underrepresented entrepreneurs, especially those who are from the ethnic minority backgrounds in the UK and across Europe. One of the reasons there are only a few or a handful of ethnic minority entrepreneurs in the UK is that most investors are mostly White or other major racial groups.
Moreover, the unavailability of loans and financial aid to the underrepresented people accounts for a considerable amount of the unbanked and underbanked population in the UK.
Bulb
Type | Private Ownership, LLP |
Industry | Energy |
Founded | 2014 |
Founder | Amit Gudka, Hayden Wood |
Headquarters | London, United Kingdom |
Amit Gudka, one of the prominent ethnic minority founders in London, founded Bulb, a renewable energy startup headquartered in London. In 2017, Bulb was the winner of The Start-Up Loans Start-up of the Year 2017 and the only UK supplier to be an accredited B Corp. This means Bulb is compliant with every law and regulation regarding social and environmental performance, accountability, and transparency. Moreover, this startup is worth mentioning because it claims to be the fastest-growing energy supplier in the UK, with more than 450,000 customers.
Tropic Skincare
Type | Private Ownership, LLP |
Industry | Cosmetics and Skincare |
Founded | 2011 |
Founder | Susie Ma |
Headquarters | London, United Kingdom |
Inspired by tropical plants and their significance in the world of cosmetics and skincare, Susie Ma founded Tropic Skincare, a natural, vegan, and cruelty-free skincare company headquartered in London. This startup acts as a social selling platform that gives people, especially people from ethnic minority groups who want to start their own beauty business, to embark on an entrepreneurial journey.
CityMaaS
Type | Private Ownership, LLP |
Industry | Information Technology |
Founded | 2018 |
Founder | Andrew Perkins, Rene Perkins |
Headquarters | London, United Kingdom |
Born out of the idea of enhancing the mobility of disabled people in the UK, CityMaas is one of the startups that are found to plug disabled people into the world of inclusivity. With a mission to personalise and simplify the way disabled people travel and commute, CityMaas is a trailblazer that takes AI and Machine Learning as the catalysts for a great change that makes inclusivity a reality.
Ethnic Minority Entrepreneurship: Equality that Makes Inclusivity Complete
A couple of decades ago, starting a business needed more than money, ideas, vision, and dreams. It is 2022, and equality is getting the deserved recognition and seems to be finally accepted as an integral part of humanity. A minority is a mere mindset in today’s world of business where entrepreneurs from all walks of life are shining brighter and growing bigger, owing to sheer skill and true talent. A community no longer dictates authority, it is the attributes of an individual that drive success, and it holds good for the ethnic minority groups in all aspects of entrepreneurship.
The lack of diversity in British entrepreneurship has its roots in decades. If you are interested in learning the history of the struggle minority groups face, we have an article on black British entrepreneurship that inspired so many great ethnic minority founders.
