Driving change in business strategies and access to funding to create an inclusive, diverse and equitable STEM industry

The vision of 2030STEM is to address systemic barriers in institutional structures and funding mechanisms required to achieve full inclusion in Science, Technology, Engineering, and Mathematics (STEM) and accelerate leadership pathways for individuals from underrepresented populations across STEM sectors. Research consistently shows that diversity and inclusion in STEM leadership improves innovation, decision-making, and organizational performance (Page, 2007; Hunt et al., 2018; AlShebli et al., 2018). 2030STEM takes a systems-level approach to create a community of practice to test, learn, and promote programs and policies that affirm and value cultural identities in STEM (National Academies of Sciences, Engineering, and Medicine [NASEM], 2020).Increasing access to capital for underrepresented groups in STEM professions is critical to accelerating full inclusion and pathways to leadership. Innovative models of financial investment in both corporate and academic environments, in addition to public-private partnerships, are already driving meaningful change (Etzkowitz & Leydesdorff, 2000; National Science Foundation [NSF], 2021). This white paper provides a summary of cross-sector priorities to create economic equity and how funding and investment must change to accelerate leadership and inclusion efforts at scale.This is the fourth in a series of white papers based on 2030STEM Salons that bring together innovative thinkers invested in creating a more equitable and inclusive STEM world for all. This salon was held virtually on February 27th, 2023 under the title: “Good Business: How full inclusion and leadership in STEM by underrepresented groups will energize all STEM industry sectors”. Our first salon and subsequent white paper focused on the power of social media campaigns to accelerate change towards inclusion and leadership by underrepresented communities in STEM. Read #Change: How Social Media is Accelerating STEM Inclusion. Our second salon and white paper explored the various cultural shifts required across the mentoring ecosystem to support underrepresented groups in STEM along with an overview of several evidence-based mentorship techniques that provide a pathway to better overall experiences for the mentor and mentee. Read Accelerating and Scaling Mentoring Strategies to Build Infrastructure that Supports Underrepresented Groups in STEM. Our third white paper and salon shared innovative new practices, new funding strategies, and the structural changes required throughout various STEM professions to propel pathways to leadership for underrepresented groups. Read Accelerating pathways to leadership for underrepresented groups in STEM.