Google has opened the floor for black founders to get rewarded massively. This time it announced its applications for the third cohort of the Black Founders Fund for Startups in Africa and Europe.
According to the Google, the sum of $4 million has been reserved to support eligible black-founded startups.
Eligibility For Google’s Black Founders Fund
Startups operating and headquartered in Africa are eligible and can now start sending in their applications for the Black Founders Fund.
Another criteria for startups that wish to apply is that the business(es) should be benefitting the black community or that the early startups have black founders or diverse founding teams.
They should also be building for Africa and the global market, have the growth potential to raise more funding, create jobs, and generally be making the measurable impact.
If selected, the lucky startups will receive up to $150,000 equity-free cash awards and up to $200,000 per startup in Google Cloud credits.
They will also support in form of training, and access to a network of mentors to assist in tackling the challenges unique to each startup.
Note that the applications for the third cohort the will close on the 26th of March, 2023.
Speaking regarding the program, Head of Startup Ecosystem, Google sub Saharan Africa, Folarin Aiyegbusi, said;
“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. We encourage all eligible startups to apply.”
Google is promoting job creation and wealth generation by funding Black founders.
The Black Founders program for startups will not only provide funding, but it will also provide hands-on support, connections and resources to help founders build solutions that are relevant for the African economy.
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