Disruption, which is an ingredient of a successful startup, also is needed within the venture capital world to be more inclusive of women and people of color, according to a panel discussion at the Forward Technology Conference held Monday at the Memorial Union as part of Forward Festival.

“The current rules (of fundraising) are based on a legacy,” Valor Ventures Founding Partner Lisa Calhoun said. “We need to question the bars that exist: What would the right standards look like?”

The panelists all described venture firms as predominantly run by Caucasian males, which can make it difficult for entrepreneurs who are not Caucasian or male to raise money.

“Fundraising as a person of color or as a woman is horrible,”  BlocPower Founder and CEO Donnel Baird said.

Sahay Consulting President Archna Sahay agreed, adding: “The infrastructure of success in any major industry (including venture capital) is set up for a particular demographic.”

For minority and female entrepreneurs, they must figure out the archetype that VCs are seeking and “figure out how to disrupt that,” Baird said.

For VCs, they “must be present in the community” and “fill in the (funding) gaps” with women and people of color, Calhoun said.

Lastly, the inclusionary values between VCs and startups should match, Sahay said.

Forward Festival continues through Thursday.