The Google for Startups Black Founders Fund Africa 2021 (Win Up to $100,000)
Between 2020 and 2021, more African companies completed more funding rounds than in any prior year, with transactions rising by almost 50%. While remarkable, this achievement is not translating to the same level of success for Black founders on the continent. Research shows that African founded startups find it difficult to secure financial support, and are faced with insufficient starting capital, a lack of angel investors and more.
Last year Google announced the Google for Startups Black Founders Fund as part of a series of racial equity commitments to close the funding gap and empower Black entrepreneurs in the US, Brazil and Europe. Given the proven success of the Black Founders Fund around the world, they are expanding the program with the first $3M Black Founders Fund in Africa.
Google for Startups is a startup program launched by Google in 2011, consisting of over 50 co-working spaces and accelerators in 125 countries, offering hands-on lessons for aspiring entrepreneurs.
Google for Startups Black Founders Fund Africa
Through the Google for Startups Black Founders Fund Africa, the tech giant is supporting early-stage Black-founded startups and startups that are benefitting the Black community on the continent.
Google wants to bridge the existing fundraising gap for Black startup founders in Africa’s fast-growing technology landscape. This non-dilutive $3 million fund is allocated across a pipeline of 50 investable startups in Africa. The fund is open to all startups that meet the criteria, with priority given to Google for Startups Accelerator and Partner program alumni. This fund will be given along with mentorship support and Google platform credits to help the startups grow.
The program is eligible for early-stage startups with black founders or diverse founding teams operating and headquartered in Africa.
- This $3M non-dilutive fund will be allocated across a pipeline of 50 investable startups in Africa, with each firm receiving up to $100,000 in cash awards.
- Each selected company will also receive $220,000 in Google Cloud Credits and Ad Grants, as well as mentoring, technical and scaling assistance from the best of Google.
How to Apply
Interested applicants for the Google for Startups Black Founders Fund Africa are encouraged to follow the link below;
Deadline: 7th July 2021