Google announced that the 2023 edition of the Google for Startups Black Founders Fund is now accepting applications from Black founders across Africa.
Started in 2020, the Startups Black Founders Fund was introduced to help Black founders overcome these unique challenges and secure the crucial capital necessary for their success. Eligible startups should have a technology-based product or service in the early stage or growth phase and demonstrate the potential to scale. Applicants must have a Black founder who plays an active leadership role in the company and be based in one of the eligible countries.
Founders will receive up to $150k in an equity free cash award, up to a further $200k in Cloud Credits and access to the best of Google – people, product and best practices.
Last year, Google announced the second cohort of recipients for the Black Founders Fund in Africa, with a total of 110 startups benefiting from the program. Nigerian startups dominated the list of recipients of 2022 Google for Startups Black Founders Fund in Africa. These startups have raised over $107 million in follow-on funding, hired 824 staff members, and expanded their revenue growth.
The Google for Startups Black Founders Fund in Africa is one of the four broad initiatives to support the continent’s digital transformation announced by Google and Alphabet CEO Sundar Pichai in a Google Africa event in 2021. Google announced that it was going to invest $1 billion in Africa to improve connectivity across the continent and invest in startups over the next five years.
Globally, the program has provided more than $30 million to support Black-led startups in Africa, Brazil, Europe, and the United States, and Latino-led startups in the United States. It has supported 400+ founders who have gone on to raise $400M+ in follow-on venture capital.
To apply, visit the program page to learn more about the eligibility criteria and how to apply. Applications are open now and will close on March 26.
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