London tech companies warn lack of diversity will “damage” world class tech sector

The vast majority of London tech companies still have little female or BIPOC representation at board level, according to new research released today by Tech London Advocates.

London’s tech companies have warned that lack of diversity will threaten the city’s tech reputation, with over half (51 per cent) of the surveyed industry leaders voicing concern that the lack of diversity in the industry could cost the UK tech sector its world-leading position.

Tech London Advocates, the independent network of 13,000 tech leaders, experts and investors in the UK, has published the research within its Tech for Diversity 2022 report. The report indicates that diversity continues to be a challenge for the tech industry, with gender diversity figures remaining largely unchanged over the past six years.

Figures showed that nearly two thirds (62 per cent) of respondents indicated that women in senior leadership teams remain in a minority, whilst three quarters of London’s tech companies have almost no BIPOC representation on their senior leadership teams.

In fact, only 7 per cent of London’s tech companies reported having an all-female senior leadership team. Nearly half (45 per cent) of the survey respondents cited Brexit and the Covid pandemic as key factors that have impacted the failure to improve the state of diversity in the industry.

There are, however, some positive signs and a sentiment the industry is steadily improving. Over half (58 per cent) of respondents believe the industry has become more inclusive in the past five years, and 42 per cent are confident we will establish truly diverse tech companies within the next ten years.

Russ Shaw CBE, Founder of Tech London Advocates and Global Tech Advocates commented: “The tech sector is still sorely lacking in diversity & inclusion, and that is simply wrong. The data shows that after many years, the UK tech sector is still struggling to shift the needle when it comes to making this flourishing industry inclusive to all.

“Fundamentally, technology should be inclusive and open to everyone. If we seize the opportunity now with practical steps and effective strategies, we can set the foundations for a future-facing sector that can keep growing and maturing, strengthened by the diversity of the talent which supports it.”

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