“Google for Startups” is now accepting applications for the Black Founders Fund for Africa’s second cohort. This time, 60 “investable” black-founded startups in Africa will receive funding, and Google notes they must be “founded by black-led or diverse teams or who are directly benefiting the black community.”
Head of Startup Ecosystem, SSA, Folarin Aiyegbusi, stated, “The Black Founders Fund Africa demonstrates our commitment to supporting innovation in underserved areas. Black-led tech startups face an unfair venture capital funding environment. That is why we are committed to helping to ensure their success, growth, and the economic prosperity of our region.”
“The fund will provide cash awards and hands-on support to 60 Black-led startups in Africa, which we hope will aid in developing affordable solutions to fundamental challenges affecting those at the base of the socio-economic pyramid in Africa,” Aiyegbusi said.
In 2021, Google chose 50 innovative startups from nine African nations, including Nigeria, Kenya, South Africa, Ghana, Ethiopia, Cameroon, Rwanda, Zambia, and Côte d’Ivoire, last year. “Since then, the selected startups have gone on to raise $73M+ in follow-on funding, hired more staff, and grown their revenues,” Google stated.
Nigeria topped the list of African startups chosen for the Google for Startups Black Founders Fund, which is part of a $175 million long-term commitment to promoting economic opportunity for Black business owners.
Who can apply?
Early-stage startups with black founders or diverse founding teams, startups that are benefiting the black community, operating and headquartered in Africa, startups with a diverse founding team that includes at least one black founding member; those having a legal presence on the continent and developing technology solutions for Africa and the global market; and those with the growth potential to raise more capital and create jobs.
Benefits
- Non-dilutive (equity-free) cash awards of up to $100,000 per startup
- Up to $200k in Google Cloud credits
- Access to a network of mentors to help tackle each startup’s unique challenges
- Access to the best of Google – people, products, and best practices
The non-dilutive $4 million fund will be distributed across a pipeline of 60 investable African startups founded by black CEOs. Google noted that alumni of the Google for Startups Accelerator & Partner program will be given precedence.
The application period is already open and will close on May 31st, 2022. Here is where you may submit your application.
