Idealog features OnBoard 2023 program
In an effort to address the pressing issue of diversity and representation in the tech industry, OnBoard has launched another Cohort. This one-year initiative is specifically designed to support top tech start-ups in New Zealand, while also fostering a pipeline of future directors.
By placing individuals as board observers on the boards of companies like Tracksuit, CoGo, Cirrus Materials, and more, OnBoard aims to increase diversity, tap into a wider pool of talent, and pave the way for a more inclusive governance system in the accelerating start-up ecosystem.
Building a Strong Foundation for Future Directors
The OnBoard accelerator program selects and places 20 individuals in board observer roles, where they learn the fundamentals of governance. By offering hands-on experience and exposure to boardroom dynamics, this initiative provides a unique opportunity for aspiring directors to develop the necessary skills and knowledge to lead effectively in the future.
OnBoard's Impact and Recognition
Founder of OnBoard, Cassie McAdams, shares her enthusiasm for the program's success, stating,
"Over 70 percent of our alumni have secured subsequent governance roles following the program. This validates the win-win nature of our program, benefiting both start-up boards and aspiring directors."
The accelerator has also made significant strides in promoting diversity, with 82 percent of all cohort groups comprised of underrepresented individuals in the technology sector, including women, non-binary individuals, and underrepresented ethnicities.
Tackling the Global Issue of Representation
McAdams recognizes the global issue of underrepresentation, as only 20 percent of board roles worldwide are occupied by women. By focusing on increasing diversity and representation within the New Zealand tech start-up scene, OnBoard aims to create equal opportunities and level the playing field. Programme Director Sophie McLernon points out,
"Start-up directors in New Zealand often rely on their own network for independent directors, limiting diversity. We want to change that and contribute to stronger Kiwi businesses."
Collaboration and Support from Venture Funds
OnBoard's accelerator program is backed by several local venture funds, including Movac, Blackbird, Punakaiki, Nuance Capital, GD1, Matu Fund, BrideWest Ventures, WNT Ventures, Pacific Channel, and Motion Capital. These collaborations allow for a more robust ecosystem, enabling OnBoard to take the New Zealand tech start-up sector to new heights.
Read an article published in Idealog about this years Cohort announcement.
