The industry is experiencing the under-representation of women and people of color, as well as people with diverse socioeconomic, educational, age, sexual identity and orientation profiles. While the investment industry seems to be taking the lack of diversity very seriously, there is much left to do. Investors have articulated how increased diversity has positively contributed towards the workplace:

• More engaged workforces

• Stimulating innovations

• Better access to talent

• Increased possibility for partnerships/external collaborations

• Reduced downside risk

• Delivered improved shareholder returns

This multi-stakeholder value seems to be motivating investor engagement in diversity, resulting in increased diversity in investment firms and their portfolio companies. To actively tackle this challenge, a coalition of organizations committed to diversity and inclusion has come together around the objective of opening up a new pathway of action for introducing greater diversity across the industry.

In late 2019, Liftstream, Biogen, NEVCA, Third Rock Ventures, and BioDirector came together to host a conference on diversity, equity, and inclusion in the bioscience industry. The forum itself was aimed as a springboard for a sustained effort by the industry to tackle the diversity and inclusion in venture investing and among life sciences portfolio companies. This forum, along with the willingness of many active volunteers has formed the basis for the Bioscience & Investor Inclusion Group (BIIG): a program of engagement designed to bring forward practical solutions in crucial areas that are deemed of highest priority or where an opportunity for progress exists.