Diversity UK Honours Lord Gadhia with a Diversity Champion Award
Lord Gadhia was recognized by equality charity Diversity UK with their Diversity Champion Award for his unwavering support of their Asians in Tech initiative, which celebrated a decade of success at an event held at the House of Lords on Tuesday, 27 February 2024.
Lord Gadhia, who hosted the event, spoke thoughtfully about the significant growth of the UK's tech sector. The event also saw the launch of the Asians in Tech Impact Report, which included findings from the Cambridge Venture Project team commissioned by the charity to independently verify the social outcomes of the initiative.
Lord Gadhia said upon launching the report: "I've been delighted to support Asians in Tech since its inception, having been a judge, speaker, and panellist at their showcase events over the years. The turnover of UK tech businesses has increased from $195 billion in 2015 to over $1 trillion last year. The level of venture capital funding underpinning that growth has risen from $6.9 billion to $21.3 billion during the period. However, this growth hasn't been evenly distributed: we know that female founders received less than 2% of VC funding last year, and ethnic minorities are often overlooked. This is why initiatives like Asians in Tech are so crucial; they showcase, inspire, and connect founders and funders here in the UK and globally. I congratulate Diversity UK for reaching this 10-year milestone despite the global pandemic, economic uncertainties, and funding challenges. Their work is vital in maintaining the momentum that's been created."
Presenting the award to Lord Gadhia, Diversity UK Chair, Lopa Patel MBE, said in her citation:
"We would like to present a special award to an individual who has guided, mentored, and supported Diversity UK with the Asians in Tech initiative.
- Judging, advising, and being the gentlest dragon of them all at the Asians in Tech Showcase
- Connecting founders to partners
- Directing investment funds to areas of growth
- Quietly finding jobs for talented individuals of all ethnicities
- Genuinely encouraging global cooperation
On behalf of the Trustees of Diversity UK, we would like to present the Diversity Champions Award to Lord Gadhia, who embodies all the qualities that the award celebrates."
Accepting the award, Lord Gadhia thanked the Trustees of Diversity UK and acknowledged their humility in allowing an independent team to scrutinise the initiative and learn from the experience, which he described as "rare and far sighted." He concluded by saying, "The Asians in Tech initiative is special. I am delighted to have championed it and will continue to do so for the next stage of its journey. Thank you."
About Asians in Tech
The Asians in Tech initiative was established in 2015 with Lord Vaizey, then the Minister for the Digital Economy launching the first Top 100 Asian Stars in UK Tech list. Successes of the Asians in Tech initiative over the past decade include:
★ 9 Top 100 Asian Stars in UK Tech lists published;
★ 6 Tech Showcases hosted (Cambridge, London, Manchester);
★ 5 Chairman's Awards presented;
★ 121 Asian Tech Pioneers recognised;
★ 3 Investing in Women Founders panel debates held;
★ A Queen's Award for Enterprise in Innovation Masterclass delivered,
★ Asian Tech Pioneers video launched offering expert advice to startup founders
★ AI Inclusion Podcast to explore bias in AI
Diversity UK is proud that the aim of showcasing Asian talent in the tech sector has been realised with founders achieving their investment targets, receiving grant funding, forming new partnerships and recognition in scaling their ventures. The Top 100 Asian Stars in UK Tech list and Asian Tech Pioneers Awards are celebrated in the summer of each year and published online at https://asiansintech.com/
