An initiative to promote equality and inclusivity within St. Louis’ startup and entrepreneurial sector has ended operations, with a new effort underway to advance its efforts around fostering diversity.
The St. Louis Equity in Entrepreneurship Collective (STLEEC), an initiative of local innovation hub BioSTL, has “sunset” operations, it said. With that decision, its leadership has decided to “integrate STLEEC’s activities with the broader network and strategy of TechSTL,” effective Jan. 1, 2023.
With its absorption of STLEEC, technology booster group TechSTL said it has partnered with nonprofit organization Forward Through Ferguson to create a new initiative that will be a successor to STLEEC, with a mission to ”grow equity in the regional business and corporate workplace.” Forward Through Ferguson formed out of the Ferguson Commission that was established after the 2014 unrest following the killing of 18-year-old Michael Brown Jr. by a Ferguson police officer. Forward Through Ferguson in 2015 issued a report detailing recommendations for how the region can improve social and economic conditions in the St. Louis region.
STLEEC launched in 2016 seeking to take a regional approach to diversity, equity and inclusion (DEI) in St. Louis’ entrepreneurial economy, bringing together a collection of entrepreneur support groups, startup investors and economic development groups to lead its effort. BioSTL launched STLEEC with help from a $420,000 grant from the Ewing Marion Kauffman Foundation.
“The Equity Collective presented an opportunity to support the regional efforts to advance race and gender equity at a time when immediate investment was absolutely critical. While we still have a long way to go, STLEEC, and its dedicated board and partners, helped build commitment and capacity among regional entrepreneur support organizations to move the ecosystem forward in a more just and equitable way,” said Ben Johnson, founding member of STLEEC and senior vice president of programs at BioSTL. “TechSTL and the many, expanding programs offered through partners of STLEEC and beyond are well-positioned to foster a deeper, more equitable impact for entrepreneurs and for the region.”
TechSTL Executive Director Emily Hemingway said in an interview it is working with Forward Through Ferguson and other partners on a new initiative that will seek to advance DEI in St. Louis’ broader workforce and business community. She said the partnership will seek not just to foster conversation around DEI, but to spur tangible actions around the topic that shape business culture and policies. While previous efforts have sought to raise awareness and acknowledgement of the importance of the issue, she said it’s now time for "broad implementation” of initiatives that can bring systematic change.
Hemingway said remaining funds from the STLEEC are being rolled over from BioSTL to TechSTL, which is currently fundraising to support its partnership with Forward Through Ferguson. TechSTL previously set a five-year goal of boosting diversity of the technology workforce, specifically by having 50% of local technology workers come from groups that have historically been underrepresented in the industry.
TechSTL and Forward Through Ferguson said their partnership is considering expansion of Forward Through Ferguson’s Racial Equity Roundtables program to focus on small business, entrepreneurship, and corporate allyship. With the new partnership, TechSTL said it plans to continue the work of the E3 St. Louis Leadership Institute, a diversity-focused program launched by STLEEC with Durham, North Carolina-based diversity consulting firm Forward Cities.
“The Equity Collective was proud to launch the E3 St. Louis Leadership Institute in 2021, which brought together key ecosystem leaders in the fields of investment, academia, and entrepreneur support, to critically examine how their own organizations can establish systems and structures that promote racial and gender equity. The STLEEC Board is excited to watch the evolution of the efforts and support TechSTL as they move these projects forward,” said Elise Miller Hoffman, who was co-chair of STLEEC's board and is general partner at St. Louis venture capital firm Cultivation Capital.
TechSTL and Forward Through Ferguson said they are working with a collection of partner organizations to map out plans for the new DEI initiative. Partner organizations include the Small Business Empowerment Center, Wepower, St. Louis Development Corporation, Greater St. Louis, Inc., Harris-Stowe State University, Rung for Women, St. Louis Mosaic Project, Venture for America, BioSTL and Inclusive Small Business Ecosystem. Hemingway said more partners are being sought to join the effort. There are plans this fall to host a meeting with local organizations to “discuss the next wave of barriers existing in business and the workplace,” TechSTL said.
Hemingway said the partnership with Forward Through Ferguson fits with other diversity-focused initiatives undertaken by TechSTL. It has launched the TechSTL Foundation, which seeks to provide capital to entrepreneurship who historically have lacked access to capital; started a project to collect data regarding the participation of minority entrepreneurs in the technology, startup and innovation economies; and plans to create an online portal to connect the business community with access to "upward mobility resources.”
