Diversity is a prerequisite for competitiveness and our shared responsibility
The competitiveness of the future will not be built solely on technological breakthroughs or capital. It will be built on an environment in which everyone can act safely and to their full potential.
Diversity, equity and inclusion are not isolated values placed in the corners of strategy diagrams. They are the structures that determine which companies talent seeks out, which teams investors trust, and what kinds of solutions emerge when different perspectives are given space.
Diverse teams consistently make better decisions. They identify risks more broadly and understand markets more deeply. That is why DEI (diversity, equity and inclusion) work is not a soft addition to company culture; it is the core of strategic success.
Power, networks and unseen assumptions
Power often does not reside at formal tables, but in small circles, tight networks and fast-moving conversations. That is why lack of diversity can go unnoticed.
When people with similar backgrounds make decisions together, they also make mistakes together. Perspectives are missing – not out of ill intent, but because of structures. But structures can be changed, and that is our responsibility.
That is why it is crucial to consciously make room for different viewpoints and experiences.
How do we move forward?
The Finnish Venture Capital Association has decided to examine cognitive diversity through three indicators: gender, educational background and nationality. Fund managers will report the distribution of these aspects annually in new hires, promotions and staff turnover.
We want to promote an open and forward-looking dialogue aimed at better understanding the foundation on which the future of the private equity and venture capital industry will be built. Transparency helps identify development needs early and steer direction at the right time.
Change begins with how we meet each other
In ecosystems, decisions are often made in rooms to which not everyone yet has access. That is why DEI is not the responsibility of a single role, organization or event. It is the shared work of investors, founders, board members, mentors, advisors and communities.
Sometimes it comes down to small but decisive choices: who gets to speak, who is invited in, who is given the chance to be seen.
What can each of us do today?
1) Speak up for safety.
If something raises concern, say it calmly – but say it. It may mean more to someone than you realize.
2) Open your networks to those who don’t already have the same doors open.
Networks are the currency of this ecosystem. Sharing them is an act that can change someone’s direction.
3) Question your own assumptions.
We all have preconceptions. Recognizing them is part of professionalism, not a weakness.
4) Make space for quieter voices.
The most valuable insight is not always the one we hear first.
5) Ask more, assume less.
Safety is built when people are seen on their own terms.
6) Treat every encounter as an opportunity to increase inclusion.
One genuine interaction can be someone’s first experience of feeling they belong.
7) Share what you have received.
Pitch opportunities, visibility, mentoring – many careers have started with exactly these.
This writing is part of the work of the Ethics Committee established by the Startup Foundation, the Finnish Business Angels Network, the Finnish Startup Community, the Finnish Venture Capital Association, Slush and Aaltoes. The Committee’s role is to foster diversity, equality and inclusion in the Finnish startup ecosystem and to compile actionable recommendations for the entire industry.
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Additional information:
Anne Horttanainen
Managing Director, Finnish Venture Capital Association
anne.horttanainen@paaomasijoittajat.fi
+358 40 510 4907
