Resources Reports Explore various reports on barriers that entrepreneurs face, different types of financing structures, determining which financial option is right for you, and more. Explore the Reports Facebook Linkedin Twitter READ MORE > Access to Capital for Entrepreneurs: Removing Barriers (2023 Update) By the Kauffman Foundation The Kauffman Foundation continues to recognize, with urgency, the significance of the role new and existing businesses play in local, regional, and the national economy. This report continues our series of sharing the state of capital access for entrepreneurs highlighting the need for innovative products and models to improve capital delivery systems. READ MORE > Access to Capital for Entrepreneurs: Removing Barriers (2021 Update) By the Kauffman Foundation The need for access to opportunity, funding, knowledge, and support is greater than ever before to ensure that historically underserved entrepreneurs are able to access the capital required to survive and thrive. This report explores the work we have embarked on to generate more innovative and effective ways to support entrepreneurs in accessing capital. DOWNLOAD [PDF] > Access to Capital for Entrepreneurs: Removing Barriers (2019) By the Kauffman Foundation Lack of access to capital is often cited as one of the primary barriers entrepreneurs face in starting or growing a business. This report surveys the current knowledge landscape regarding access to capital with an eye towards innovative concepts for improvement to capital access systems. DOWNLOAD [PDF] > Deconstructing the Pipeline Myth and the Case for More Diverse Fund Managers By Marlon Nichols, MaC Venture CapitalCollin West, Kauffman FellowsGopinath Sundaramurthy, Kauffman Fellows In a novel approach to studying ethnicity in startups, we leveraged software to analyze the faces of startup executives to gather empirical answers. More specifically, the Kauffman Fellows Research Center analyzed the profile images of 260,000+ startup founders and executives in the United States using publicly available demographic models created by Clairifai. LEARN MORE > Emergence of New Capital Providers – Exploring Alternatives to Traditional Expectations and Structures By Impact Terms Through our analysis, we learned that funds investing in underserved entrepreneurs through alternative investment structures are often nimble investment vehicles that operate in the very early stages of the portfolio companies’ development, really enabling these companies to raise the first essential capital to fuel their growth. SIGN UP TO RECEIVE THE PLAYBOOK > Finding the Right Financing for Your Capital Needs By Lighter Capital Learn about the startup fundraising options available today, and how to compare each option based on your company’s stage. DOWNLOAD [PDF] > Guidelines for Equitable Employee Ownership Transitions By Jessica Rose, The Democracy CollaborativeHilary Irby, Soros Fund ManagementMarjorie Kelly, The Democracy CollaborativeRobin Varghese, Open Society Foundations A collaborative project of practitioners and thought leaders in the fields of investment management, employee ownership, and socially responsible business who believe deeply in the promise of shared enterprise ownership to build a more just and inclusive economy. DOWNLOAD [PDF] > Race influences professional investors’ financial judgments By Sarah Lyons-Padillaa, Stanford UniversityHazel Rose Markus, Stanford UniversityAshby Monk, Stanford UniversitySid Radhakrishnac, Illumen CapitalRadhika Shahc, Illumen CapitalDaryn Dodson IV, Illumen CapitalJennifer Eberhardta, Stanford University Of the $69.1 trillion global financial assets under management across mutual funds, hedge funds, real estate, and private equity, fewer than 1.3% are managed by women and people of color. Why is this powerful, elite industry so racially homogenous? DOWNLOAD THE E-BOOK [PDF] > The Equity Capital Gap for Entrepreneurs of Color in Chicago By Charisse Conanan Johnson, Next StreetJoan Spirytus, Next StreetCristina Yoder, Next StreetSpencer Lau, Next Street History tells us that entrepreneurs of color are disproportionally affected by recession and times of economic hardship. And while it’s important that small business owners have access to a range of debt and equity financing options and data show that entrepreneurs of color face more barriers to accessing capital across this full financing continuum than do their White counterparts, this report focused on the particular challenge associated with equity and equity-like capital. SIGN UP TO DOWNLOAD [PDF] > The New Face of a Founder By Lauren Washington, Black Women Talk TechBrittany Kendrick, Black Women Talk TechDulari Gandhi, Michael & Susan Dell Foundation Black women are building valuable products and businesses with scalable market opportunities. SIGN UP TO RECEIVE THE E-BOOK > The Rise of Revenue-Based Financing By Lighter Capital Discover why startups are increasingly turning to alternative financing options like revenue-based financing.