I started writing an answer to this question, but I got so motivated I ended up turning it into a blog post. The full post can be found on my blog. Here’s a summary.
I'm a Hispanic female.
I’ve wondered about this a lot. I've thought about all the usual reasons people say there is such a lack of minority-owned startups, but none of these reasons made much sense to me. Then about a month ago, it finally dawned on me. It's the culture.
There are some cultures that are more entrepreneurial than others. For instance, as it has already been pointed out, Indians are considered a minority, yet they tend to be very entrepreneurial. Therefore, the general minority tag doesn't work. We need to separate each minority group and look at each independently.
Hispanics and African Americans tend to be less entrepreneurial than Whites. Probably because of the difference in cultures. The real issue comes from within the culture itself, and has little to do with external factors. Unfortunately, culture is intangible, which makes it very hard to point to specific notions within each culture that contribute to being one way or the other. The best I can think of is to look at what kind of behaviors are encouraged within each culture.
So my opinion is that this really isn’t a problem. It only becomes a problem when there is a big percentage of minorities that want to start a tech business, but can’t. However, a majority of people in certain groups just aren’t interested. And of the small percentage that are interested, their success rate seems to be in line with non-minorities.
In fact, the quote in your question backs this up:
The yield rate for these minority-owned firms was 19%, which for the fourth straight year is in line with market yield rates.
What can be done to increase the number of minority-owned start-ups?
Short of forcing people to do something they don’t enjoy, not much.
I don't think our society is doing anything to discourage minorities from starting their own business. In fact, there are plenty of programs in place to encourage the growth of minority owned businesses.
I believe we should do what we can to help those that want our help, regardless of race, color, religion, etc. Those that come from historically non-entrepreneurial cultures may need more help, and we should be willing to give them that extra bit of help.
I’m very interested in this topic, and I’d love to hear what you think (good and bad) about my thoughts.