Affirmative action was designed to right historical systemic inequities, and the work to rectify these disparities is far from finished. The ramifications of the Supreme Court’s decision to overturn affirmative action this morning could extend beyond education, potentially reversing gains within America’s civic and economic domains.
In our sector, women and Black founders only received 1.9% and 1% of venture capital funding, respectively, and Latino-owned businesses face similar disparities. To address inequities like these we need to be able to acknowledge and specifically address the barriers that people of color and women disproportionately face. As we all know talent is evenly distributed but opportunity and access are not.
This ruling underscores the need for us to remain committed to our work, demonstrating the importance of investing in diverse entrepreneurs and working together towards an economy that truly works for all. These efforts are fundamental to the success of our economy, our communities, and the mission of ICA Fund, as we strive for a future where all entrepreneurs, irrespective of their race or background, have equal access to opportunities for success.