Silicon Valley Bank Introduces “Access to Innovation” to Increase Opportunities for Underrepresented People in the Innovation Economy
Company news | October 1, 2019
SVB and Pathstream launch Community College Certificate in Business & Data Analytics
SANTA CLARA, CA – October 1, 2019 - Silicon Valley Bank (SVB Financial Group, NASDAQ: SIVB), the bank of the world’s most innovative companies and their investors, today announced its Access to Innovation program, which is designed to increase opportunities for underrepresented individuals in the innovation economy. SVB seeks to provide educational and workforce opportunities for emerging talent, increase the connections and funding available for female- and minority-founded startups, and encourage gender parity and diversity in leadership in the innovation economy.
“We believe everyone should have equal access to great careers and business success,” said Greg Becker, CEO of Silicon Valley Bank. “The innovation economy, the ecosystem we help fuel, is full of opportunities. Through a range of programs, partnerships, volunteering and financing, we have a companywide goal to increase access to innovation for everyone. This work furthers our mission to increase the probability of our clients’ success by developing a larger, more diverse talent pool and investor community.”
SVB’s clients inspired the company to build on the work it had been doing for years to support the growth and success of the innovation ecosystem. According to SVB’s annual Startup Outlook survey of more than 1,000 startup founders and executives, 82% of startups are hiring yet 91% find it challenging to hire the talent needed to grow their business. At the same time, 12 million jobs requiring post-secondary education will go unfilled in the next decade (Year Up), less than half of U.S. startups have women in executive roles (SVB Startup Outlook), 89% of U.S. VCs are male (All Raise) and 83% of tech executives are white (EEOC).
SVB’s Access to Innovation program has distinct goals and partnerships in three core areas to increase diverse representation at all levels in the innovation economy:
Educational Opportunities: Training emerging talent and creating workforce opportunities for individuals without four-year degrees.
Connections and Funding: Developing networks, partnerships and events to bring founders and investors together to increase funding for female and minority entrepreneurs.
Representation in Leadership: Increasing representation of female and minority founders, investors, and board members.
Launching Business Analytics Curriculum and Certificate
With the goal of increasing the talent pool for SVB’s innovative clients, this year SVB identified one of the most needed entry-level positions among its clients and has introduced a business and data analytics certificate. The certificate teaches high-demand skills such as SQL, Tableau and Python and was developed in partnership with Pathstream, an education technology startup, and SVB client, which is bridging the digital skills gap by bringing cutting-edge tech education programs to colleges across the country. The four-course certificate program is running now in California at Cañada College and Foothill College and is scheduled to be available in additional U.S. cities in 2020.
“As the financial hub for the innovation economy, SVB is also uniquely positioned to grow the skills and career opportunities within the community it serves – and continues to do so with a focus on increasing equity and access,” said Eleanor Cooper, co-founder and CEO of Pathstream. “SVB’s smart, holistic approach benefits employers, job seekers, and the entire innovation ecosystem.”
For more information on SVB’s Access to Innovation program and to get involved, please visit svb.com/living-our-values/access-to-innovation/
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
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