On November 19, 2024, BCLA hosted its 2nd annual Celebrating Diversity in STEM event, titled 'Intersectionality in Entrepreneurship,' at Boyer Hall, UCLA, bringing together diverse voices from the STEM and entrepreneurial communities. This evening gathering focused on the ways in which gender, race, and other identities influence the paths of founders, especially those from underrepresented backgrounds. The event highlighted the importance of support networks and how organizations can build inclusive spaces that drive success in entrepreneurship, featuring a keynote on DEI progress in science and an engaging panel discussion, offering attendees valuable insights and practical advice.
Opening the evening was Dr. Denise Bronner, CEO and Founder of Empactful Ventures, a consulting firm dedicated to integrating empathy and profitability by making health equity a tangible reality through technology, community engagement, and clinical expertise. Dr. Bronner’s keynote address offered a candid reflection on her transformative career, spanning academia, industry, and entrepreneurship. She began by recounting her experience as a graduate student, where pursuing opportunities outside of the academic "ivory tower" was often viewed as taboo. Despite these challenges, Dr. Bronner was fortunate to have a supportive advisor who encouraged her to explore diverse career options, a privilege that shaped the trajectory of her professional life.
As Dr. Bronner transitioned from academia to industry, she faced new challenges, particularly regarding biases about PhD holders in the corporate world. She discussed how these misconceptions about communication skills, adaptability, and pressure handling drove her to redefine her career. This led her to impactful roles in consulting and the pharmaceutical industry, but ultimately, she found traditional corporate structures limiting. Inspired to make a broader impact, Dr. Bronner founded Empactful Ventures, which is focused on merging empathy with business strategy to drive change in the healthcare and health tech spaces.
Dr. Bronner’s presentation also addressed critical issues surrounding diversity, equity, and inclusion in entrepreneurship. She highlighted the systemic funding disparities that underrepresented groups, particularly women-led startups, face in securing venture capital despite greater revenue outputs. Dr. Bronner urged the audience to challenge these inequities and embrace alternative funding models such as crowdfunding and non-dilutive capital. Drawing from her research on successful unicorn founders, she debunked the myths about entrepreneurship, emphasizing the diverse backgrounds of many successful founders, including first- and second-generation immigrants. Concluding her talk, Dr. Bronner urged the audience to challenge biases, support diverse entrepreneurs, and embrace inclusivity as essential drivers of innovation and sustainable success in the healthcare and tech sectors.
Following swiftly was the panel discussion, “Driving Diversity, Equity, and Inclusion in Founding the Future,” moderated by Ogonna Nwajiobi, Founder of BridgeScholarship and Senior Scientist at Amgen. The panel featured Shu Li, CEO and Co-Founder of Petribio; Leticia Toledo-Sherman, Senior VP at MyCRx and Founder of Toledo-Sherman Consulting; AJ Addae, Founder and Formulation Chemist at SULA Labs; and Denice Wharton, CEO and Founder of Suma Solutions. The discussion highlighted the critical role of diversity in entrepreneurship, with each panelist sharing their unique experiences and perspectives on fostering inclusive innovation in STEM.
Li emphasized the importance of diversifying one’s mindset, skills, and communication in order to grow professionally. She explained how constant self-reflection and adapting to various environments can help pave the way for success, even when already considered diverse. Additionally, she raised concerns about whether venture capitalists are truly risk-tolerant when it comes to investing in diverse founders but suggested that founders should seek investors who share similar values around diversity and inclusion.
Addae shared her experiences in the cosmetic science industry, highlighting the barriers she faced as an entrepreneur, particularly in an industry that often overlooks products for women with diverse hair and skin types. She also advocated for exploring alternative funding routes, such as grants and angel investors, which she views as more flexible and supportive of diverse entrepreneurs, like herself, who are balancing a PhD with running a business.
Wharton spoke about the necessity of internal validation before seeking external approval. She underscored the importance of understanding one’s own credibility to build a solid foundation for a successful venture, particularly in the healthcare and health tech sectors. In doing so, she expanded on the power of leveraging diverse experiences to create innovative solutions.
Toledo-Sherman highlighted the value of diverse perspectives in biotech, noting that incorporating different viewpoints often leads to more innovative and effective solutions. She also expressed excitement about organizations like Black in Neuro that are actively increasing diversity in STEM fields. She optimistically concluded that while venture capitalists are often primarily motivated by profitability, they are increasingly open to ideas from a broader range of expertise and experience.
With a shared vision of creating inclusive spaces that empower diverse voices, the event reinforced the importance of mentorship, alternative funding models, and a collaborative approach to overcoming systemic barriers. As participants continued their conversations beyond the session, the hope was that the insights shared would spark lasting change and inspire future generations of entrepreneurs to break barriers and redefine the future of STEM.
We would like to extend our thanks to our speakers, attendees, and our event sponsor - City of Hope.
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