Asian entrepreneurs have an under-representation problem
When you think of an entrepreneur, who do you envision? Is it the people you see on the magazine covers? On transit ads? Celebrating their latest wins on LinkedIn? Or is it the folks you see working long hours at their family-run shops and restaurants? Even then, what do those people look like? And how often are they of Asian descent?
Forbes’ Finest List shows that 41% of individuals identified as Asian. Further to this, 42% of companies that have turned into publicly-traded companies in the last few years haven at least one Asian founder. The alarming statistic here though is that AAPIs account for one third of the United States population, but are only represented in single digits in the c-suite in the technology industry.
A Statistics Canada report from 2021 shares that over half of Metro Vancouver’s population identifies as a visible minority and that 46.5% of that group identify as Asian.
While there is yet to be research that provides a breakdown of the region’s entrepreneurs that identify as part of the Asian diaspora, it is hard to ignore the erasure or omission of Asian Canadian business stories in mainstream media and its downstream effects on understanding what entrepreneurship is and introducing that as a viable career path for Asian youth or folks looking for a career pivot more aligned with their values and goals.
“I was raised with a traditional upbringing where you had to fall into one of the main career paths. I chose engineering because of my interest in numbers and both of my parents are engineers,” shares Katty Wang, now co-chair of Vancouver Startup Week (VSW). “After a number of years, I realized that my passion was using similar problem solving skills, but to connect the dots where it matters, building a community by making connections within my network.”
This is the spirit that fuels the Beijing-born entrepreneur and community leader – as she and her co-chair of Vancouver Startup Week, Vivian Lago – embark on their sixth year at the helm of this week-long conference.
Lago remembers that prior to working in the entrepreneurship space at a startup accelerator, most people including her parents who emigrated from Hong Kong, didn’t know much about the community and resources available.
“We’ve built VSW in a way that it supports our team members and allows them to use it as a platform to try new skills and accelerate their own career path which is what I’m really proud of,” says Lago.
Vancouver Startup Week 2023 takes place from June 2nd to 9th, with a variety of events to attend and people to meet people who are entrepreneurs or excited about entrepreneurship and solving problems.
See also: Focusing on family: how Mom and Pop restaurants brave the pandemic
Vancouver Startup Week events featuring Asian Canadian entrepreneurs
Cold Tea Collective is proud to be a Gold sponsor of Vancouver Startup Week 2023. These are a few events we’re attending and who we’re looking forward to hearing from.
For more information and a complete schedule of events, visit Vancouver Startup Week’s website. Cold Tea Collective readers get 20% off with promo code VSWxColdTea20.
Breaking Barriers: Asian-Canadian Entrepreneurs’ Unique Paths to Startup Success
Wednesday June 7th: 3:30 pm – 5:00 pm
BCIT Tech Collider, BCIT Downtown Campus, 555 Seymour St, Vancouver
This panel features our founder and CEO Natasha Jung alongside other Asian Canadian entrepreneurs who have pivoted from their previous career paths to start something on their own. Panelists will share stories of their lived experiences in overcoming challenges, their unique superpowers and the experience of being Asian Canadian startup leaders.
Panelists:
- Natasha Jung, Founder, Executive Editor & Executive Producer, Cold Tea Collective
- Audrey Kwan, Founder and Host, Founder of AJK Consulting, Host of Small But Mighty Agency podcast
- Andy Song, Founder & CEO, Woof Concept Products Ltd.
- Donna Cheung, Founder and Executive Producer, Wakefield Agency
- Julie Wang, Founder & Digital Marketing Strategist, Tiny Planet Digital
- Audrey Wong, Founder, Zyre Brands
Panel organizer Julie Wang shares a similar experience as the VSW Co-Chairs: “Growing up, entrepreneurship was not encouraged in my family and culture, as stability was prioritized in career choices.”
Wang is the founder and lead digital strategist for Tiny Planet Digital. Her involvement in the Asian entrepreneur community in Vancouver is something she describes as inspiring, because she has seen change makers across generations uplift others through mentorship and other forms of support. “Together, we can break the mental barriers, challenge societal norms, and inspire the next generation to pursue their entrepreneurial dreams with confidence and support,” says Wang.
Frontier Collective, Asian Canadian Venture Collective and Vancouver Entrepreneurs Forum – What Great Leaders Look Like
Thursday, June 8th
5:00 PM – 8:00 PM
BCIT Tech Collider, BCIT Downtown Campus, 555 Seymour St, Vancouver
Hear from an inspiring panel of business leaders who have grown and scaled international businesses. They will also share about how their lived experiences as immigrants influence their leadership styles.
The session is moderated by Vivian Chan and Lindsay Chan, two stellar Asian Canadian women business leaders in the technology and arts industries.
- Pocket Sun – Co-Founder & Managing Partner at SoGal Ventures – A VC that funds BIPOC and women led ventures that has created over $7.8 billion in market value.
- Yaofei Feng – Founder of Fantuan – A food delivery app that supports “mom and pap” ethnic restaurants across North America and employs thousands of immigrants and new Canadians.
- Davis Yung – Co-Founder & Director Fresh Direct Produce – Davis has built an innovative produce company that has grown to become one of Canada’s Best Managed Platinum Companies. He is now an investor and mentor.
We asked session organizer Vivian Chan to share why she put together this panel: “We are normalized to think of certain people to be ‘leaders’, when in fact leaders come in different heights, shapes and ethnicities,” says Chan. Her goal is to address the challenges of entrepreneurship while also creating an ecosystem to support Asian Canadian startup leaders. “Establishing a community of support is not just essential, but critical if companies want to flourish, scale up and go global.”
You can’t be what you can’t see – reimagining what an entrepreneur looks like
When it comes to inspiring the next generation of entrepreneurs and drastically improving the statistics for representation in the business world, we have to showcase models for what great leaders look like.
Being a model for what is possible and redefining what it means to be an entrepreneurial leader is something that is not lost upon Vancouver Startup Week’s two co-chairs.
“Over the years, I have learned to take a step back and see that having Asian women leading a large team (of volunteers!!) and doing something at this scale is a big deal,” says VSW co-chair Vivian Lago.
Lago’s co-chair Katty Wang says they intentionally curated a schedule that prioritizes more space for underrepresented and underserved groups to share their experiences and perspectives.
Supporting and empowering the next generation of Asian Canadian entrepreneurs requires intentional and meaningful work over an extended period of time, not just from the Asian Canadian community, but beyond, if we want to see and be role models for the next generation of problem solvers.
How to support and foster the next generation of Asian Canadian entrepreneurs
While it is important to share the stories of the Asian-owned businesses and leaders in our communities, there is much more we can do to ensure the next generation has models to look to for inspiration.
Julie Wang shares her calls to action to support the next generation of Asian Canadian entrepreneurs:
1. Seek out and engage with Asian Canadian entrepreneurs: Actively discover and support Asian Canadian entrepreneurs in your community. Attend their events, follow their social media accounts, and engage with their products or services. Show your support by becoming a customer, providing feedback, and recommending them to others.
2. Collaborate and mentor: Offer your expertise and guidance to Asian Canadian entrepreneurs and early-stage startups. Share your knowledge, provide mentorship, or explore partnership opportunities. By collaborating and sharing resources, you can help them overcome challenges and accelerate their growth.
3. Invest and support financially: If you have the means, consider investing in Asian Canadian startups or supporting crowdfunding campaigns. Alternatively, support local initiatives that provide resources, grants, or funding opportunities for early-stage startups. Your financial support can make a significant impact in helping these entrepreneurs realize their visions.
4. Foster a supportive community: Actively participate in fostering a supportive community for Asian Canadian entrepreneurs. Attend networking events, join relevant organizations, and connect with like-minded individuals. By building a strong support system, we can create an environment that nurtures and uplifts Asian Canadian entrepreneurs.
Supporting Asian Canadian entrepreneurs and early-stage startups is not limited to one-time actions but rather an ongoing commitment. By actively engaging, collaborating, and advocating, we can collectively create a thriving ecosystem that empowers and celebrates their contributions.
Read more: Cold Tea Collective stories on business and entrepreneurship
