Mark Warner | Joe Watson | Virginia | venture capital
Prioritizing Diversity
by
Chuck SalterMark Warner was running for governor of
Virginia when he met with a
group of African-American business leaders. He was looking for
their support. Warner gave a good accounting of all that he'd done
as a venture capitalist to generate more opportunities for
minorities in the state, including the creation of a high-tech
internship program for students at predominantly black colleges.
The one area where there hadn't been much progress, Warner said,
was in
venture capital. The problem was a familiar one: There
weren't enough blacks with the necessary background.
One of the leaders sitting in the audience that day was
Joe
Watson. After the speech, Watson told Warner, "You're wrong.
They're out there." And to prove the point, he set up a meeting
between Warner, some members of Watson's network of talented
minority business executives, and a group of VCs. Warner was
impressed - so impressed that, after he won the election, he made
Watson a part of his transition team. Working pro bono, Watson
orchestrated an extensive talent search that turned up women,
blacks, Hispanics, and Asian-Americans, among others, to fill the
Warner administration, particularly at the highest levels. The
result: In 7 of Virginia's 10 cabinet departments, either the
cabinet secretary or the deputy secretary is a minority. "It's
significantly more diverse than it was before," says Warner. "I
think it reflects the changing face of Virginia."
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