As topics of D&I have gained societal momentum with the #BlackLivesMatter, #MeToo, and #TimesUp movements among others, companies are scrambling to evolve their workplaces to new standards of representation and inclusiveness. The failure to create diverse and inclusive work cultures has a massive economic impact in the form of lawsuits and employee turnover, and in missed opportunities for value creation. Employee turnover also costs companies significantly and recent research has found that unfairness turnover, or turnover due to discrimination and bias, costs companies $64 billion every year. Whereas companies that are more inclusive and diverse are ~43% more likely to have above average profits and diverse teams produce ~63% better results.

One primary reasons companies are struggling with D&I is due to the fact that the majority of U.S. leaders and their employees are unsure how to engage with issues of diversity and inclusion and current training solutions are aren’t effective...
As topics of D&I have gained societal momentum with the #BlackLivesMatter, #MeToo, and #TimesUp movements among others, companies are scrambling to evolve their workplaces to new standards of representation and inclusiveness. The failure to create diverse and inclusive work cultures has a massive economic impact in the form of lawsuits and employee turnover, and in missed opportunities for value creation. Employee turnover also costs companies significantly and recent research has found that unfairness turnover, or turnover due to discrimination and bias, costs companies $64 billion every year. Whereas companies that are more inclusive and diverse are ~43% more likely to have above average profits and diverse teams produce ~63% better results.

One primary reasons companies are struggling with D&I is due to the fact that the majority of U.S. leaders and their employees are unsure how to engage with issues of diversity and inclusion and current training solutions are aren’t effectively skilling-up on these topics. Companies know their trainings aren’t producing the outcomes they are looking for; U.S. companies are spending ~$8BN per year on D&I focused trainings, yet 63% of leaders believe their trainings are ineffective.

That’s where Praxis Labs comes in.

Leveraging research that shows that empathy and perspective taking are key drivers of diversity and inclusion training effectiveness, we’ve built a solution that is having a real impact. We use Virtual Reality for unconscious bias training. Specifically, we let users take the perspective of someone else, experience incidents of bias, and then practice responding to those incidents. We pair our VR with a Learning and Reflection platform that guides users through reflection and provides definitions for the patterns of bias the users experienced in VR. In both VR and the platform, we collect data to measure empathy growth and efficacy of our training. We’re able to do this at scale compared to in person trainings. Praxis Labs helps to increase empathy, reduce bias, and create sustained behavioral change.
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Investors

F6S  Alpha
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Multicultural Innovation Lab 2020
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Employees

Elise Smith
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Elise Smith CEO Lead vision & strategy. Experience in product, B2B sales, diversity &inclusion, & biz strategy. In pursuit of justice & equity. Chicago bred