Tech Nation has selected 35 tech startups to participate in the second iteration of their Libra programme, aimed at supporting underrepresented tech founders. Libra 2.0 is dedicated to promoting diverse tech leaders in the UK by highlighting companies founded by Black, South Asian, East Asian, and Arab leaders in the industry.
Among the participating companies, 63% have at least one female founder, and 40% are located outside of London, operating across a total of 17 countries. The programme includes startups from various sectors such as finance, healthcare, clean technology, HR, and education.
The inaugural Libra programme successfully facilitated seed funding for two Black-owned companies, and six companies received the Black Fund Grant from Google for Startups.
In collaboration with Cooley, Libra 2.0 features innovative scaleups such as Tierra Foods, which transforms under-utilized Central American plants into carbon-negative superfoods; Hormonius Flo, which seeks to alleviate menstrual pain; and sustainable payment solution Fintellity.
Chenelle Ansah, an investor at Cornerstone Partners and a judge for Libra 2.0, remarked, “The Tech Nation Libra programme aims to level the playing field, but we have yet to achieve equality. Historically, diverse founders have not had the necessary space and capital to thrive. It’s encouraging to see so many impressive businesses led by diverse founders apply to the Libra programme. With the talent represented this year and the resources provided by Tech Nation, I am confident that these startups will scale successfully.”
Brianna Bao, an investor at Simsan Ventures and another judge for Libra 2.0, emphasized the importance of diversity in UK tech, stating, “It is crucial for catalyzing a new wave of breakthrough technologies that can transform economies and societies. I fully support Tech Nation’s Libra programme in attracting brilliant founders who promote inclusion and democratize services in overlooked markets.”
Chris Coulter, a partner at Cooley and member of the firm’s diversity committee, expressed enthusiasm for the second cohort, saying, “We were greatly impressed by the first group of businesses in Libra’s inaugural programme for underrepresented founders, and we are excited about the new startups starting this month. The quality of ideas and entrepreneurship we have witnessed highlights the significant contributions that the UK’s leading ethnic minority founders can make. We are proud to support these startups on their journeys and contribute to the ongoing mission of Libra.”