Joey Gonzalez brings more than two decades of experience building Barry’s into a global phenomenon

August 27, 2026 – Joey Gonzalez first walked into Barry’s as a client, and went on to become CEO. During that time, he helped transform a small Los Angeles fitness business into one of the most recognizable brands in the world.

Now, he is bringing that experience to StartOut, the national nonprofit championing LGBTQ+ entrepreneurs, where he was elected to serve on its Board of Directors.

“Joey knows that community is essential to growing an idea into a global business,” said Brian Richardson, CEO of StartOut. “His experience will be invaluable as StartOut expands our own community and helps more LGBTQ+ founders build companies that change the world.”

Gonzalez joined Barry’s in 2004 and became CEO in 2015. During his tenure, the company grew to 92 locations across 16 countries and four continents, helping define the modern boutique fitness industry. In 2025, after a decade as CEO and co-CEO, he became Executive Chairman and continues to help guide Barry’s long-term vision and global expansion.

His path from customer to chief executive gives Gonzalez an unusually complete view of what makes a company successful. He has taught classes, cleaned studios, opened new markets, led teams, and built a brand known as much for its community as its signature Red Room workout.

“The best businesses are built around more than a great product or idea. They’re built around people, community, and a real sense of belonging,” said Gonzalez. “That’s something I strived to foster throughout my own career, and it’s exactly what StartOut creates for LGBTQ+ founders. I’m honored to join the board and help more founders gain the relationships, resources and confidence they need to build something extraordinary.”

Gonzalez has been part of the StartOut community for years. In 2022, StartOut presented him with its Leadership Award for his entrepreneurial success and commitment to the LGBTQ+ community.

The proud son of a Cuban refugee, an openly gay entrepreneur and parent, Joey has spoken honestly about how his identity shapes his approach to leadership. He made belonging a central part of the culture at Barry’s and has consistently used his platform to uplift LGBTQ+ people and other underrepresented communities.

“Joey has built an extraordinary career by combining ambition with authenticity,” said Genesis Garcia, Chair of the StartOut Board of Directors. “He understands that strong companies and strong communities are not competing priorities. They reinforce one another. We are thrilled to welcome his perspective, energy and leadership to the board.”

As a StartOut board member, Gonzalez will help guide the organization as it expands its support for LGBTQ+ and allied entrepreneurs across the full founder journey, including the upcoming launch of the StartOut Legacy Circle.

New executive cohort, presented by UBS, supports founders navigating scale, liquidity and life after entrepreneurial success

NEW YORK, NY — July 14, 2026 — StartOut today announced the launch of Legacy Circle, an invitation-only executive cohort for accomplished LGBTQ+ founders and senior leaders preparing for major liquidity events. Designed with and supported by UBS, the program completes StartOut’s strategic vision of supporting entrepreneurs from ideation through successful exit.

Nominations for Legacy Circle can be made here. 

“Three years ago, we committed to building a complete founder pipeline as part of our strategic plan,” said Brian Richardson, CEO of StartOut. “Legacy Circle fulfills that promise. Today, StartOut champions LGBTQ+ entrepreneurs for ideation to exit, empowering them to create not just economic opportunity for themselves, but for the generations of founders who follow.”

For nearly a decade, StartOut has accelerated the growth of mid-stage LGBTQ+ entrepreneurs through its flagship Growth Lab. That program has supported more than 120 founders who have collectively raised over $1 billion in capital and built companies that have created more than 5,000 jobs. Last year, StartOut expanded that pipeline upstream with Spark Lab, an incubator designed for founders at the earliest stages of company building. Spark Lab launched to exceptional founder satisfaction, earning a 9.5 Net Promoter Score, and graduates raising an average of $201,350 following their participation.

Legacy Circle completes that pipeline, bringing together a highly curated cohort of accomplished LGBTQ+ founders to navigate the unique opportunities and responsibilities that accompany entrepreneurial success.

The inaugural Legacy Circle cohort will convene October 27-28 in New York City, bringing together approximately 20 founders and senior leaders who have built and scaled exceptional companies. Through confidential peer discussions, expert facilitation and curated conversations with industry leaders, the cohort will explore topics including identity after a major liquidity event, wealth stewardship, board service and the transition from operator to what’s next.

“As LGBTQ+ founders achieve greater success, they face opportunities and decisions that are often difficult to navigate alone,” said Santi Miller, UBS. “UBS is proud to work with StartOut to launch Legacy Circle because entrepreneurship doesn’t end at liquidity. By bringing together accomplished founders to learn from one another and thoughtfully shape their next chapter, we’re investing not only in individual leaders but in the future strength of the entire entrepreneurial ecosystem.”

Chris Davidson, former Head of StartOut’s Growth Lab, will steward the Legacy Circle experience, weaving together each retreat, speaker and conversation into a cohesive journey for participants. As head of Growth Lab, Chris helped transform the program into one of the nation’s premier accelerators, mentoring more than 120 entrepreneurs who collectively raised over $1 billion in capital. Drawing on his experience as an executive coach and founder mentor, Chris will cultivate the trusted, peer-driven environment that defines Legacy Circle.

The inaugural cohort will include founders and c-suite executives from across industries nearing significant business growth, acquisitions, public offerings or other major liquidity events. In addition to peer learning, participants will become an integral part of StartOut’s long-term ecosystem, helping mentor emerging entrepreneurs and strengthen opportunities for future generations of LGBTQ+ founders.

Legacy Circle is an invitation-only cohort. StartOut welcomes nominations from founders, investors and ecosystem leaders who know exceptional LGBTQ+ entrepreneurs preparing for significant growth or liquidity events. Learn more or submit a nomination at startout.org/legacy-circle.

Maca Baigorria, a two-time founder whose first startup grew from $0 to $7 million after participating in StartOut’s Growth Lab, returns to lead the accelerator that helped launch her entrepreneurial journey.

NEW YORK, NY — StartOut, the nation’s leading nonprofit championing LGBTQ+ entrepreneurs, today announced the appointment of Maca Baigorria as Head of Growth Lab and Entrepreneur-in-Residence. A graduate of Growth Lab Cohort 8, Baigorria returns to lead the accelerator that helped shape her own success, succeeding longtime program leader Chris Davidson, who is departing to become Chief People Officer at inKind, a Growth Lab alumni company.

“Growth Lab has always been about more than helping founders build companies. It’s about building leaders who lift up the entrepreneurs who come after them,” said Brian Richardson, CEO of StartOut. “There is no better example of that than Maca. She embodies everything Growth Lab stands for: bold entrepreneurship, operational excellence and a deep commitment to community. We couldn’t be more excited to welcome her back to lead the program that helped launch her own journey.”

Baigorria is the founder of Avocademy, a career accelerator that grew from zero to more than $7 million in revenue while helping thousands of people transition into technology careers. She is currently building her second company, Jack, an AI-native hiring platform. Before becoming an entrepreneur, she worked as a mechanical engineer at Boeing and as a UX strategist at IBM and PwC. Born in Argentina and now based in Miami and New York, Baigorria is a proud queer Latina immigrant dedicated to helping the next generation of LGBTQ+ and allied founders succeed.

“So much of what worked at my first company came directly from what I learned in Growth Lab and from the community of world-class entrepreneurs I found there,” said Baigorria. “To carry that work forward, with Chris’s playbook in one hand and my own founder-operator experience in the other, is the dream version of a next chapter.”

The announcement also marks the conclusion of an extraordinary chapter under Davidson’s leadership. Over the past five years, he transformed Growth Lab into one of the country’s premier accelerators for LGBTQ+ founders, mentoring more than 100 entrepreneurs and helping cultivate a program whose 123 alumni have collectively raised more than $1 billion in capital and created more than 5,000 jobs.

“Watching Maca grow from a first-time founder into the leader she is today has been one of the great privileges of my time at StartOut,” said Davidson. “She combines empathy, ambition, operational excellence and innovation in a way that is incredibly rare. There is no one I trust more to lead the next chapter of Growth Lab. Our founders are in exceptional hands.”

Davidson will join inKind, a Growth Lab alumnus, as Chief People Officer, while continuing to support StartOut in an advisory capacity. In addition, he will transition to a new role within StartOut, to be announced in the coming weeks. 

Growth Lab’s next cohort begins on August 30, 2026, continuing StartOut’s mission of propelling LGBTQ+ entrepreneurs toward success through knowledge, capital and community.

June 30, 2026 – StartOut today announced the appointment of Curtis Sakow as Director of Development. Curtis brings extensive experience in nonprofit fundraising, strategic partnerships and revenue growth, with a strong track record of helping mission-driven organizations expand their impact.

In this role, Curtis will lead StartOut’s fundraising strategy, partnering with sponsors, donors, foundations and community leaders to ensure greater opportunities and success for LGBTQ+ entrepreneurs.

“We’re excited to welcome Curtis to StartOut,” said Brian Richardson, CEO of StartOut. “Curtis knows how to build lasting partnerships that fuel real impact. As we grow our community of sponsors and donors, Curtis will help us accelerate opportunity for LGBTQ+ entrepreneurs nationwide.”

Before joining StartOut, Curtis served at the MATHCOUNTS Foundation, where they helped advance organizational growth and fundraising strategy. Previously, they spent four years at the LGBTQ+ Victory Fund, leading corporate and institutional giving initiatives that secured critical support for the organization’s mission. Originally from Florida and now based in Washington, D.C., Curtis brings both professional expertise and a deep commitment to advancing LGBTQ+ economic opportunity.

“True economic empowerment and representation in entrepreneurship are transformative for the LGBTQ+ community,” said Curtis. “I join StartOut with a deep passion and relentless drive to ensure our founders have the resources they need to reach their full potential. I’m excited to deepen StartOut’s impact.”

Curtis’s appointment reflects StartOut’s continued investment in expanding its network of supporters and advancing its vision of a world where every entrepreneur can thrive on a level playing field.

May 8, 2026 – StartOut, the national nonprofit championing LGBTQ+ and allied entrepreneurs, announced the election of four national leaders to its Board of Directors: Sean Livingston, Chris Luquetta-Fish, Fredo Silva and Meghan Stabler. Current board member and investor Jason Scott has also been elected Vice Chair. 

“These leaders bring the experience, networks, and commitment StartOut needs as we expand our support for LGBTQ+ entrepreneurs nationwide,” said Genesis Garcia, StartOut Board Chair. “Each has been a champion of our mission, and their leadership will help us deepen our impact across the entrepreneurial ecosystem.”

StartOut also announced new leadership roles supporting key strategic initiatives. Donnya “Zi” Piggot will lead community engagement, working directly with local Leadership Councils on programming in New York, San Francisco, Los Angeles, and other major metropolitan areas. Jugal Patel will serve as Chair for StartOut Con, the organization’s flagship gathering for LGBTQ+ entrepreneurs, taking place in San Francisco June 11-12. 

Bethany B. who has been with StartOut for two years, has been promoted to Senior Digital Marketing Associate.  In this role, they oversee StartOut’s social media channels, building an interactive online presence for the organization and its more than 59,000 followers. 

“StartOut’s strength is our community, made up of thousands of talented people who work together to support LGBTQ+ entrepreneurship,” said StartOut CEO Brian Richardson. “With the leadership of our board and the strength of our team, we will continue to create opportunity and drive success for LGBTQ+ entrepreneurs.”

New Board Members

Sean Livingston (he/him)
Sean is a Managing Director at UBS Private Wealth Management, where he advises ultra-high-net-worth individuals and families on sophisticated wealth management strategies. He also serves as Executive Sponsor of the UBS PRIDE & Allies Employee Resource Group and previously co-chaired the group while serving on the Diversity, Equity and Inclusion Council for UBS Americas.

Sean has been involved with StartOut for more than a decade and played a key role in securing UBS’ multiyear sponsorship of the organization. In addition to serving as a donor, he has consistently championed StartOut within the financial services industry.

Chris Luquetta-Fish (he/him)
Chris is a product leader and entrepreneur whose career spans product leadership roles at Toast, OpenTable, Slack, and Microsoft. He founded Napkin Labs, where he provides fractional product leadership to Vertical B2B startups  navigating the transition from MVP to scalable growth. He also served as an associate at FTW Ventures, where he supported early-stage startups and venture investment strategy.

Chris is an active member of the StartOut community and regularly drives marquee  events and fundraisers in San Francisco. He also serves on the board of The LGBT Asylum Project, which provides legal representation for LGBTQ+ asylum seekers. A former undocumented immigrant and self-taught professional, Chris is passionate about expanding access and opportunity for underrepresented communities.

Fredo Silva (he/him)

Fredo is a partner in the Emerging Companies + Venture Capital practice at Morrison Foerster. He has served as counsel to startups and investors in early- and late-stage financings, minority strategic investments, and impact investments in over a hundred private companies, including representation of SoftBank, Temasek, and Visa Ventures. He also works with startups to form Delaware public benefit corporations and structures for-profit/non-profit “hybrid” entities that can attract both philanthropic and traditional capital.

In addition, Fredo works extensively with nonprofit organizations, providing advice on fiduciary issues, entity formation, structuring, and other corporate matters. Mr. Silva currently chairs the audit committee of the board of directors of the Tony Award-winning Berkeley Repertory Theater and has previously advised and served on the boards of the Eat. Learn. Play. Foundation, founded by Steph and Ayesha Curry, and the San Francisco AIDS Foundation, which for over 40 years has been pursuing a future where health justice is achieved for all people living with or at risk for HIV.

Meghan Stabler (she/her) 

Ms. Stabler is an accomplished executive and board leader, currently serving as a member of the board of directors at Grindr (NYSE: GRND) since November 2022. She is the co-founder of Alentr, an AI-driven pricing intelligence platform, and serves as an advisor to a stealth AI company and its clients. Previously, Ms. Stabler held senior leadership roles, including Chief Marketing Officer at ThriveCart and Senior Vice President of Global Marketing at BigCommerce (Nasdaq: BIGC).

Her extensive board experience includes serving on the national boards of Planned Parenthood (C3 and C4), the Human Rights Campaign (C3 and C4), Lambda Legal, Kaleido Health Solutions, Democratic Majority for Israel, Athlete Ally, Segall Bryant & Hamill, National Center for Missing and Exploited Children, and AIDS Foundation Houston. Additionally, she has played significant roles with the Democratic National Committee, including as a superdelegate and appointee to the Platform Committee and was an active member and policy advisor on President Obama’s National LGBT Policy Committee.

Staffing Updates

Donnya “Zi” Piggott (she/her) – Consultant
Donnya is a tech entrepreneur, UX designer, product manager, and award-winning LGBTQ+ advocate whose work sits at the intersection of technology, queerness, and social justice.

In 2012, she co-founded B-GLAD (Barbados Gays, Lesbians and All-Sexualities Against Discrimination), the first LGBTQ+ advocacy organization in Barbados. Her work challenging discriminatory legislation and elevating the voices of queer Bajans earned her the Queen’s Young Leader Award from Queen Elizabeth II and recognition as a Gender Advocate by UN Women for the Caribbean region.

Donnya will support StartOut events organized by various Leadership Councils, formally Programming Boards, as the new Community Engagement & Project Manager and is a part of the 2026 Class of the World Economic Forum, Young Global Leaders and the co-founder of Goldeneggs.co.

Jugal Patel (he/him) – Consultant
Jugal is a two-time operational founder with deep experience building companies from the ground up. Born and raised in the San Francisco Bay Area, he brings a strong background in early-stage company building and operational leadership.

Jugal has also demonstrated deep commitment to community leadership through nonprofit work focused on housing access, supporting underrepresented founders, and addressing mental health and addiction. A longtime StartOut volunteer, he currently serves as Chief of Staff for StartOut Con, helping deliver the organization’s flagship conference.

Bethany B. “BB” (they/she) – Senior Digital Marketing Associate
StartOut also announced the promotion of Bethany “BB” to Senior Digital Marketing Associate. Based in Texas, BB brings expertise in digital communications and strategy, along with a passion for building connected and collaborative communities.

Through previous nonprofit work with organizations including ConnectUp! Institute, CloseKnit, and OutFront Minnesota, BB developed a creative and innovative approach to digital marketing that has helped strengthen StartOut’s communications and community engagement via social media. 

With the addition of new board leadership, expanded consulting expertise, and continued growth within its team, StartOut remains focused on supporting LGBTQ+ entrepreneurs and building a more inclusive economy.

MARCH 3, 2026, 9:00 AM ET: StartOut today announced the newest cohort of high-potential startups joining its Growth Lab Accelerator. Over the next five months, these founders will work closely with mentors, tap into targeted resources, and participate in hands-on programming designed to help them strengthen operations, refine strategy, and accelerate growth.

Since its launch in 2017, the Growth Lab has graduated over 119 companies, supporting more than 4,536 jobs and raising over $933 million in funding.

The companies joining Cohort 17 include tech startups focused on industries from education to AI. 

The companies comprising Cohort 17 include:

• Avatar Buddy (Miami): a human‑centric AI Solutions company that turns each organization’s own policies, processes, and institutional knowledge into function‑specific AI “Buddies” that feel like trusted teammates, not tools. 
• Eddii, Inc. (New York): a multi-state endocrinology telehealth platform focused on diabetes, metabolic, and cardio-renal care. 
• Learningly AI (Chicago): an all-in-one AI study tool for college students that replaces the 5–10 scattered tools students juggle daily. 
• MOST AI (New York): a patent-pending decision engine that diagnoses non-obvious growth opportunities for consumer brands and prescribes the exact tests needed to unlock breakthrough growth — often within 90 days.
• PlumCheck (Brooklyn): an API-based service enables consumer platforms to display verified health badges without accessing or storing underlying medical records.
• ReviewTailor (Atlanta): helps professionals track, reflect on, and showcase their career growth with simple, actionable tools. 
• Revision Learning (New York): helps students and professionals turn meaningful experiences into cohesive, high-impact stories for college admissions, careers, and beyond. 

“Our Growth Lab companies come into the program with a clear sense of purpose,” said Brian Richardson, CEO of StartOut. “Cohort 17 brings new startups with real momentum. Through Growth Lab, they’ll gain the connections and community to grow faster—and StartOut is proud to support this group of founders in this stage of their entrepreneurial journey.”

Founders who are accepted into Growth Lab have the opportunity to access networking, educational resources, and mentorship. The program is sponsored by J.P. Morgan Commercial Banking. 

“We’re excited to welcome the latest cohort of founders to the Growth Lab. From AI to edtech to telehealth, these founders are driving meaningful innovation, and we’re proud to support their journeys by providing access to educational resources, networking, and opportunities to access capital,” said David Barbee, J.P. Morgan’s Head of Transaction Development for Global Banking and Head of LGBTQ+ Initiatives for Commercial Banking.

To learn more about the StartOut Growth Lab, including details on the application process for the next cohort, visit: startout.org/growth-lab.

About StartOut
Founded in 2009, StartOut, a national 501(c)(3) non-profit organization, is the largest national organization to expand economic opportunity for LGBTQ+ entrepreneurs with over 24K active community members nationwide. Its mission is to increase opportunity and success for LGBTQ+ entrepreneurs. StartOut helps aspiring entrepreneurs start new companies; supports current entrepreneurs as they grow and expand their existing businesses; and engages successful entrepreneurs as role models and mentors, on its online portal and through targeted events nationwide. For more information, please visit www.startout.org.

September 17, 2025 – StartOut, the national nonprofit championing LGBTQ+ entrepreneurs, announced today the addition of three new members to its Board of Directors— Alexander-Ali Dalipi, Sidd Gavirneni, and Traci Keen—as well as the appointment of Cori Coccia as the organization’s new Director of Operations.

“These leaders represent the very best of what StartOut stands for: innovation, resilience, and community,” said Genesis Garcia, StartOut Board Chair. “Sidd, Alexander-Ali, and Traci are all successful entrepreneurs who know firsthand the challenges of building companies. Their voices will strengthen our board as we guide StartOut’s next chapter of growth.”

Sidd and Traci are both alums of StartOut’s Growth Lab accelerator program who led their respective companies through successful acquisitions. Alexander-Ali has been a longtime StartOut volunteer and host committee member for the annual StartOut Awards, with his company serving as a sponsor for the last two years.  

In addition to the new board members, Cori Coccia joined the StartOut staff in the newly created role of Director of Operations, bringing extensive nonprofit management experience and a track record of leading organizations with strong operational foundations. Cori previously served as Executive Director of the nonprofit GirlVentures. 

“Cori’s leadership in nonprofit operations will be instrumental as StartOut grows to meet the needs of LGBTQ+ founders nationwide,” said Brian Richardson, StartOut CEO. “Her ability to align strategy with execution will ensure we can deliver greater impact.”

Each of the new leaders brings a unique background and proven record of impact. 

Alexander-Ali Dalipi (he/him)
For more than 25 years, Alexander-Ali Dalipi has led in human resources and payroll, designing systems that enhance efficiency and support organizational growth. As founder and CEO of HR1Systems, he provides full client-side and vendor implementation and strategic services for small to midsize companies. Under his leadership, HR1Systems became a corporate sponsor of the StartOut Awards since 2023. He is currently pursuing a Doctorate of Education in Organizational Leadership, Development, and Change at Lehman College and holds a Master’s in Human Resources Development from Villanova University. With certifications in PHR, SHRM-CP, National Payroll Compliance, and Data Analytics, Alexander-Ali is also a frequent national speaker on HR and payroll innovation.

Sidd Gavirneni (he/him)
Sidd Gavirneni is a cybersecurity entrepreneur, executive, and LGBTQ+ advocate who has lived and led across India, Spain, and the United States. He founded Zeguro, one of the first startups to integrate cybersecurity and cyber insurance for SMBs, which was later acquired by HSB, a Munich Re company. Today, Sidd leads cyber products at HSB while serving on DEI committees at both HSB and Munich Re. A StartOut Growth Lab alum and recipient of the 2019 StartOut Next Generation Award, Sidd remains deeply connected to the StartOut community as a mentor and Growth Lab selection committee member. He continues to champion purpose-driven leadership, believing true success is measured in how many people you empower along the way.

Traci Keen (she/her)
Traci Keen is an accomplished Founder, CEO, strategic advisor and CFO with a track record of leading mission-driven companies through rapid growth, operational transformation, and successful exit. A recognized fertility innovator, she has pioneered the use of digital tools, AI-driven clinical support, and scalable infrastructure to expand access to care and empower generalist providers. Over the course of her career, Traci has raised more than $25M in venture capital and debt, led complex M&A transactions, and advised startups and growth-stage companies on strategic finance, fundraising, and operational clarity. She is known for her ability to navigate complexity with both empathy and precision, bringing a rare blend of vision, execution, and emotional intelligence to every table she sits at.

Cori Coccia – Director of Operations (she/they)
StartOut also welcomed Cori Coccia as its new Director of Operations. Cori has worked in the nonprofit sector since 1999, dedicating their early career to expanding equitable access to the outdoors for LGBTQ+, BIPOC, and low-income communities. At StartOut, Cori brings deep expertise in nonprofit operations, organizational leadership, team development, and financial management systems. They are passionate about strengthening systems that support sustainable work culture and lasting impact. 

• Evolve (New Delhi): An AI mental health platform focused on the needs of the LGBTQ+ and neurodivergent community, with more than 1.5 million users globally.
• Round (Chicago): Simplifies payment acceptance for beauty and wellness micro-merchants, helping small businesses save on fees and grow.
• Silly Pickles (Chicago): Runs adult recreational sports leagues with unique formats for skill-based matching and socializing.
• TrackStar AI (Phoenix): A fintech platform using machine learning to detect credit report errors in real time.
• Feather (New York): A self-serve bookings and management platform for businesses like yoga, pilates, and spin.
• UniteVerse (London): Provides businesses with a real-time, data-backed platform to meet shifting consumer expectations.
• Sleep Spark, Inc. (Columbus): A HealthTech company focused on improving sleep health and reducing stress through a digital platform.
• Everywhere Is Queer (Portland): A global directory and free app connecting people to over 19,000 queer-owned businesses.
• PlanPerfect (Miami): An AI-powered platform helping nonprofits build and execute strategic plans with ease.

“Our Growth Lab founders are builders, risk-takers and visionaries,” said StartOut CEO Brian Richardson. “This group has the talent and drive to transform industries—and Growth Lab gives them the knowledge, resources and network to transform together. StartOut is here for LGBTQ+ entrepreneurs at every step of their journey.”

“Hailing from Ohio to London – the breadth of backgrounds, markets and industries that comprise Cohort 16 is truly noteworthy. I look forward to seeing the ideas and strategies these founders glean from the program, as well as from one another over the course of the next several months,” said David Barbee, Managing Director, Head of Transaction Development for Global Banking at J.P. Morgan. “We’re proud to support Cohort 16 in their business pursuits.”

May 21, 2025 – StartOut, in collaboration with the Eidos LGBTQ+ Health Initiative at the University of Pennsylvania, is proud to announce the release of a pivotal new report Diminished Diversity in Entrepreneurial Pipelines. This report highlights barriers faced by LGBTQ+ entrepreneurs, with a special focus on underrepresented racial and gender groups within the LGBTQ+ community.

“This research marks a significant milestone in our efforts to study and understand the existence of the ‘leaky pipeline’, a phenomenon where underrepresented groups are disproportionately lost at various stages of entrepreneurial journeys,” said Irene Tang, co-author of the report and Director of Data and Insights at StartOut.

Key Insights from the Report:

• Although representation at the initial exposure phase is very diverse, StartOut observed sharp declines in representation at the accelerator acceptance phase, a vital stage of the entrepreneurial pipeline.
• African American / Black founders comprised of 16.6% of initial participants but make up only 4.9% of the accelerator stage
• Female founders comprised of 41.3% of initial participants but make up only 27.2% of the accelerator stage
• Non-binary founders comprised of 9.7% of registered founders but make up only 2.5% of the accelerator stage

“As a longtime researcher of diversity in entrepreneurship, I find the StartOut and Eidos research results discouraging. If StartOut, with its dedicated diversity programs, experiences this leakage, it’s likely much worse for LGBTQ and racially diverse founders in less attentive organizations. This highlights the need for data collection to identify systemic bias and track our progress, holding us accountable,” said Waverly Deutsch, startup mentor and retired entrepreneurship professor at The University of Chicago Booth School of Business. “Diversity isn’t just a buzzword; it’s vital for innovation and economic success.”

The report also provides targeted recommendations to improve diversity within accelerator programs:

• Enhanced Outreach & Recruitment
  • Focus on especially underrepresented founders like women, gender non-conforming, and racial/ethnic minorities in marketing, recruitment, and tailored programming, such as having leaders and influencers in their respective groups to advertise programs and events.
• Tailored Support Programs
  • Offer customized workshops and mentorship programs that address the unique needs of minority founders, such as specialized training to overcome systemic barriers
• Equitable Funding Opportunities
  • Create funding initiatives targeting underrepresented groups, such as scholarships and pitch events that target minority founders.
• Intersectional Data Collection
  • Expand data collection to capture race, gender, sexual orientation, and other factors to understand how these influence entrepreneurial journeys.
  • Ensure staff has representation and competency training to prevent bias.
  • Hold focus groups with underrepresented members to understand barriers and how to overcome them.

“While analyzing the impact of our programs, we observed a concerning decline in the participation of especially underrepresented founders as they progressed through our programs and services. This led to a collaboration between StartOut departments to analyze new strategies and approaches to enhance our commitment to diversity, equity, inclusion, and belonging for all our founder members,” said Tarik Perkins, co-author of the report and Chief Programs Officer at StartOut. 

“LGBTQ+ entrepreneurs are essential in shaping the future of our communities, building the businesses and services that foster long-term wellbeing. However, many face significant barriers, particularly those who belong to racial, gender, and sexual minority groups. Our collaboration with StartOut underscores the critical need for equitable support for all LGBTQ+ entrepreneurs and highlights the importance of supporting StartOut’s commitment to addressing the leaky pipeline for LGBTQ+ entrepreneurs. By identifying and addressing these gaps, StartOut can ensure their programs are both inclusive and evidence-based, paving the way for every entrepreneur to thrive,” said Eidos in a statement on the significance of this research. 

Explore the Findings & Sponsorship
To download the report summary or to explore the full report, “Diminished Diversity in Entrepreneurial Pipelines” visit startout.org/insights.

StartOut’s research was sponsored by Tawani Foundation. For further questions, or to contribute as a sponsor, contact info@startout.org.

About Eidos
The Eidos LGBTQ+ Health Initiative at the University of Pennsylvania engages leaders from community, academic, civic, and business spheres to co-create innovative solutions that ensure impact for LGBTQ+ communities. We take an action-oriented, world-class evidence-based approach to further the sustained well-being of the LGBTQ+ community. 

April 2, 2025 – StartOut, the national nonprofit championing LGBTQ+ entrepreneurs, announces its new slate of officers on the Board of Directors, signaling a continuance of strong governance and continued growth for the organization.