Diversity Economics Awarded Significant R&D Grant to Build Innovative DEI Data and Insights Platform for Enterprises

Innovate UK SMART grant will fund the new GenAI-powered, LLM-based technology platform

LONDON, UNITED KINGDOM, March 26, 2024 /EINPresswire.com/ — Key Insights:

• Diversity Economics Ltd has received a significant R&D grant from the UK government to develop DEAI, a novel DEI data and insights platform aimed at enhancing corporate DEI strategies.

• The platform utilizes a generative AI-led approach for dynamic, actionable DEI insights, aiming to bridge the critical gap in industry-specific DEI data.

• Founder Af Malhotra emphasizes the strategic advantage of DEI and the project’s role in transforming corporate DEI practices, highlighting the platform’s potential to significantly impact companies’ market share and profit through data-led decisions.

Diversity Economics (DE), a trailblazing startup at the forefront of Diversity, Equity, and Inclusion (DEI) data, is thrilled to announce it has received a substantial grant from the UK government to co-fund the venture and accelerate the path to a series A round. This funding is earmarked for the development of the Diversity Economics Insights Platform (DEAI), a first-of-its-kind DEI platform designed to empower enterprises with actionable, data-driven DEI insights.

In a world where nearly half of global companies have yet to fully integrate DEI into their business strategies, the need for comprehensive, industry-specific DEI data has never been more critical. DEAI promises to bridge this gap by offering dynamic insights that enable business leaders to make informed decisions, enhancing employee engagement and overall company performance.

A Data-Driven Approach to DEI

DE’s innovative platform leverages a generative AI-led approach, incorporating a proprietary holistic benchmarking and scoring methodology. This approach aligns DEI activities with key company performance indicators (KPIs), facilitating a more strategic integration of DEI into business operations.

“We are at a pivotal moment in how enterprises approach Diversity, Equity, and Inclusion. The generous grant from the UK government enables us to leap forward in creating a platform that not only aggregates DEI data but transforms it into actionable insights for businesses. At Diversity Economics, we believe that understanding and leveraging DEI is not just a moral imperative but a strategic advantage. This funding marks a significant milestone in our journey to redefine the landscape of corporate DEI practices,” said Af Malhotra, Founder of Diversity Economics.

Impact on the Market and Society

Research indicates that companies leading in DEI see a net increase in market share by 4% per year. By leveraging data-led DEI decisions, UK businesses could see up to an 8% increase in baseline profit. DE’s entry into the market signifies a significant step towards realizing these gains, contributing to a more inclusive and equitable corporate landscape.

A Testament to Innovation and Excellence

The Innovate UK Smart Grants represent one of the most competitive funding opportunities for UK-based innovators, with only 5% of applications typically successful in winning. Diversity Economics distinguished itself among thousands of applicants, securing this prestigious grant with an impressive score of 86%. “This achievement is a testament to the groundbreaking work we are doing at Diversity Economics,” remarked Malhotra. “And it speaks volumes about our team’s dedication to excellence and innovation.”

About Diversity Economics

Diversity Economics Ltd is a pioneer in DEI data, focused on transforming how businesses integrate DEI into their strategic planning. Through the use of advanced AI and data analytics, DE provides enterprises with the insights needed to foster a more inclusive, equitable, and productive workplace.

Denise Williams
Diversity Economics Ltd
[email protected]