Data transparency remains a pressing issue within venture for people looking to better track where and to whom money is allocated. The Diversity Data Alliance aims to simplify this by creating a framework for standardized data collection to track and understand funding trends.
The Alliance intends to increase capital allocation to marginalized founders by using the collected data. It plans to release a report with centralized data and focus on enhancing privacy measures and fundraising for a secure database.
Sarah Millar, a founding member of the Alliance, emphasized the need for standardized data collection to enhance community support. The standardized intake form will ensure consistency across all firms.
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