Google has announced the third batch of its Black Founders Fund for Startups in Africa and Europe as it has committed $4 million to this initiative. In order to support qualifying black-founded firms, the fund’s objectives include helping black-owned enterprises all throughout the continent and advancing digital transformation.
The tech titan has allocated $4 million, or N1.84 billion, to support qualified black-owned enterprises. As soon as they are chosen, the startups will get up to $200,000 for each one, as well as equity-free cash rewards worth up to $150,000.
When chosen, the firms will get up to $200,000 in Google Cloud credits for each one, along with equity-free cash prizes of up to $150,000.
A network of mentors and access to training is also included in the support, which will help startups overcome the particular difficulties faced by their companies.
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Eligibility Requirements
You can apply for the Black Founders Fund, according to Google, if your firm has its headquarters or operations in Africa or has a valid presence there. Black founders, diverse founding teams, or businesses should otherwise help the black community.
The startups should be creating products for the African continent as well as the global market, have the potential for expansion and job creation, and have a quantifiable impact.
Applications for the 2023 Black Founders Fund for Startups are now open and will end on March 26, 2023, at https://goo.gl/ApplyforBFFAfrica
