Friday, June 9, 2023

Google Announces $4m Funds For Startups In Africa, Europe

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Google has announced applications for the third cohort of its Black Founders Fund for startups in Africa and Europe.

This was made known in a statement by the Head of Startup Ecosystem, Google, sub-Saharan Africa, Folarin Aiyegbusi, on Tuesday in Lagos.

He disclosed the technology company would designate four million dollars to support eligible black-founded startups this year.

Aiyegbusi said the programme was in line with its commitment to digital transformation and support to black-founded startups.

He revealed the startups operating and Headquartered in Africa or having a legal presence on the continent were eligible to apply for the BFF.

He said that startups that wish to apply should be benefiting the black community or early-stage startups with black founders or diverse founding teams.

Aiyegbusi said that startups should be building for Africa and the global market, have the growth potential to raise more funding and create jobs.

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According to him, selected startups will receive between $150,000 and $200,000 equity-free cash awards and per startup in Google Cloud credits, support in the form of training and access to a network of mentors to assist in tackling the challenges unique to each startup.

“Startups are a critical driver of innovation, economic growth and social progress especially in Africa and the support that the selected startups will receive will go a long way to unlock the potential and promote growth in the African tech ecosystem and the next generation of African tech entrepreneurs.

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‘’We encourage all eligible startups to apply following the successful completion of two cohorts of the BFF, the programme has supported a total of 110 black-owned startups across Africa,’’ he said.

He said that 60 growth-stage startups were selected and supported through the programme last year in Africa.

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Photo Credit: Getty

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