Tech giant Google has announced the second edition of its Black Founders Fund aimed at early-stage startups in Africa.
In 2021, the Google for Startups Black Founders Fund invested $3M into 50 Black led-startups in Africa. Since then, the selected startups have gone on to raise $73M+ in follow-on funding, hired more staff, and grown their revenues.
Through the Google for Startups Black Founders Fund Africa, Google is supporting early-stage startups on the continent that are founded by black-led or diverse teams or who are directly benefitting the black community. This non-dilutive $4 million fund is allocated across a pipeline of 60 investable black-founded startups in Africa. The fund is open to all startups that meet the criteria, with priority given to Google for Startups Accelerator & Partner program alumni.
This fund will be given along with mentorship support and Google platform credits to help the startups grow.
Who Should Apply
Early-stage startups with black founders or diverse founding teams operating and headquartered in Africa.
- 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
Applications to the fund are open until 31st May 2022
Find out more here.