• Selected start-ups to win up to $150,000 in equity, $200,000 in Cloud credit
Google has opened applications for the third group of Black Founders Fund for Startups in Africa and Europe, in line with its commitment to digital transformation and support for black-founded startups. This year, Google has committed $4 million to support deserving black-founded startups.
Startups operating and headquartered in Africa or having a legal presence on the continent are eligible to apply for the Black Founders Fund. Other eligibility criteria for startups that want to apply are that the business must benefit the black community or that the early-stage startup has a black founder or a diverse founding team.
Startups must be built for Africa and the global market, have growth potential to raise more funding, create jobs and generally make a measurable impact.
Once selected, startups will receive a free cash prize of $150,000 and up to $200,000 per startup in Google Cloud credits, support in the form of training, and access to a network of mentors to help overcome challenges unique to each startup. . Applications for the third cohort will close on March 26, 2023.
Google’s Head of Startup Ecosystem, Sub-Saharan Africa, Folarin Aiyegbusi, said: “Startups are critical drivers of innovation, economic growth and social progress, especially in Africa and the support that the selected startups will receive will unlock the potential and promote growth in Africa.”
technology ecosystem and the next generation of African technology entrepreneurs.
We invite all eligible startups to apply. After successfully completing two Black Founders Fund cohorts, the program has supported a total of 110 black-owned startups in Africa. 60 growth stage startups were selected and supported through the program last year in Africa.
Africa has a growing population with one in three Africans estimated to be under 35 by 2050. The continent offers great opportunities for startups to provide innovative solutions to a growing market. It is also estimated that by 2025, Africa’s Internet economy will have the potential to add up to $180 billion to Africa’s GDP.
By funding Black founders, Google is promoting job creation and generating wealth on the continent. The Black Founders Fund program for startups provides not only funding, but also support, connections and resources to help founders build solutions that are relevant to the African economy.