The limited diversity of talent in the tech world is frequently identified as an issue that can hamper the performance and growth of innovative start-ups and scale-ups, and as such is a concern for the European Innovation Council. In particular, high diversity in terms of gender and ethnicity has been correlated with higher financial performance of private ventures, while diversity at executive level (also including e.g. in socioeconomic status and disability) has been shown to be important for effective decision-making.
In order to improve the availability of all talent, and particularly female talent, to the EIC portfolio of projects and companies and the EU innovation eco-system, and following the recommendations of the ScaleUp Europe report, the EIC seeks the development of an innovation gender and diversity index, providing consistent information to the EIC, other investors and funding bodies, market actors and policy makers across Europe. Such information includes gender and diversity data for innovative start-ups and scale-ups as well as for investors and funds investing in such companies and should cover and be comparable across at least all Member States and Associated Countries. Such information is currently missing or fragmented or collected according to different methodologies and definitions. The expected impacts arising from the development of such an index are:
Building on existing efforts to measure diversity within EU companies and consistently with the objectives of the EU’s sustainable finance strategy, this action will support a multidisciplinary consortium to: