Google is on a mission to support digital transformation and innovation among black-owned startups in Africa and Europe with its Google for Startups Black Founders Fund 2023.
This fund is a unique opportunity for black tech entrepreneurs to access capital and resources that can help them scale their businesses and create positive impact in their communities.
The fund, which was launched in 2020, has already deployed $20 million (R367M) in funding to founders across the US, Europe, Africa and Brazil1.
In 2023, Google has committed $4 million (R73M) to support eligible black-founded startups that are operating and headquartered in Africa or have a legal presence on the continent.
The fund is open to startups that are benefiting the black community or that have black founders or diverse founding teams.
The startups should also be building for Africa and the global market, have the growth potential to raise more funding, create jobs and make measurable impact4.
The selected 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 benefit from training, mentorship and networking opportunities from Google experts and partners who can help them tackle the challenges unique to their startup. They will also join a community of like-minded entrepreneurs who share their vision and values.
To apply for this fund, you need to fill out an online form with some basic information about your startup, such as your product or service description, your target market, your traction and revenue, your team composition and diversity, your impact on the black community and your goals for 2023.
You also need to provide a pitch deck that showcases your value proposition, market opportunity, competitive advantage and financial projections.
The deadline for applying is 26 March 2023, so hurry up and don’t miss this chance to take your startup to the next level. The selected startups will be announced in June 2023 and will start receiving their awards shortly after.
As Folarin Aiyegbusi, Head of Startup Ecosystem at Google Sub Saharan Africa 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”.
So what are you waiting for? Apply now for the Google for Startups Black Founders Fund 2023 and make your mark on the world!
