Creative Destruction Lab and Material Change Institute
Toronto, Ontario; San Francisco, California, March 09, 2022 (GLOBE NEWSWIRE) — TORONTO/SAN FRANCISCO, March 9, 2022 — Creative Destruction Lab, a non-profit mentorship program for massively-scalable science and tech startups, is partnering with Material Change Institute, a new non-profit building a capital ecosystem that provides diverse representation and equal access to broaden investments. The partnership matches Material Change Institute fellows with Creative Destruction Lab’s network of experienced mentors to drive impact.
Research shows that investments made by diverse teams have better financial outcomes. Companies with diverse investors tackle strategic decision-making and recruitment with more creativity and open-mindedness, leading to stronger returns. This is why Material Change Institute created a comprehensive executive program aimed at lowering the investment industry’s barriers to entry for underrepresented individuals. The organization identifies and supports diverse individuals in the investment community through a year-long program to prepare them for influential decision-making roles, offering virtual learning, mentorship, paid internships and incubator experience throughout the program.
Through this partnership, these professionals will also have the unique opportunity to learn from Creative Destruction Lab’s (CDL) global network of first-class entrepreneurs, operators, investors and executives, to observe and understand the challenges faced by inventors building early-stage companies at the cutting edge of science and technology.
“Having real, tactical support from colleagues and community can supercharge someone’s career,” says CDL mentor Karin Klein, founding partner at Bloomberg Beta. “For underrepresented investors who don’t always have that access and support, the Creative Destruction Lab and Material Change Institute are opening doors and offering meaningful steps that can lead to big opportunities.”
“They say that brilliance is evenly distributed, but opportunity is not. The CDL and Material Change partnership aims to provide a first-of-its-kind, immersive learning experience for investment professionals from a broad range of backgrounds,” says Sonia Sennik, executive director at CDL. “It is our hope that, by working with the exceptional CDL mentor community, the Material Change fellows develop an understanding of how to become effective investors within the tech ecosystem.”
Since its inception, CDL alumni graduates have generated $18 billion in equity value. Alumni include companies like Xanadu, Ada, Atomwise, Benchsci, Kheiron Medical, and Sheertex. CDL mentors, many of whom are industry-leading angel and fund investors, coach ventures throughout the nine-month, objectives-based program. This symbiotic partnership will allow Material Change fellows to work alongside CDL mentors, gaining further first-hand experience in assessing investment opportunities by shadowing as CDL mentors work with founders and supporting mentors in the early-stage investment process.
“We urgently need a capital ecosystem that enables diverse investors and lowers the barriers for underrepresented experts to enter the asset management industry,” stated Eve Blossom, founder and CEO of Material Change Institute. “This partnership aims to provide a first-of-its-kind, immersive learning experience for investment professionals from a broad range of backgrounds and provide them with easier onboarding into venture capital.”
“The value that minority investors bring to the table is immense. They understand opportunities through a global lens and can leverage their diverse backgrounds to spot global, scalable products better than anyone else,” says Eva Lau, founding partner at Two Small Fish Ventures, former Wattpad executive, and a mentor with the Material Change partnership. “Successful tech giants will need to be able to serve global markets, therefore, we must nurture global-minded VCs. This program will do just that.”
Learn more about how one of CDL’s 16 program streams could increase your venture’s probability of success. Or join Material Change on its mission to build an investment industry that’s different by design. Interested candidates can apply today for the next cohort, which will begin in late May 2022. Those interested in offering internship opportunities for Material Change Institute fellows, click here.
About Creative Destruction Lab
Creative Destruction Lab is a non-profit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded in 2012 at the University of Toronto’s Rotman School of Management, the program has expanded to 10 sites across four countries. Participating companies have created more than $18 billion (CAD) in equity value.
About Material Change Institute
Material Change Institute is a non-profit that enables underrepresented investors to reach influential decision-making positions within the asset management industry. The non-profit is on a mission to enable underrepresented individuals to excel as investors while equipping funds, investor groups and incubators to achieve higher returns. The fellowship is driven by a vision for the capital ecosystem of the future: one that provides diverse representation and equal access that broadens investments.