Google has recently announced that the application process for the Google for Startups Black Founders Fund 2023 is now open for Black founders across the African continent.
As part of its commitment to support diversity in the tech industry, the company has pledged to provide $4 million in funding to eligible Black-founded startups.
To qualify for the fund, Google disclosed that Startups must be operating and headquartered in Africa or have a legal presence on the continent. Startups must have black founders or diverse founding teams, directly support their domestic market, intend to expand globally, and raise more funding.
Also, Technology startups with an MVP, live product in a market or business where technology is core to their ability to scale (not for consultancies or not-for-profits).
Other eligibility criteria for startups are that the business should be benefitting the black community, and also startups are expected to be building for Africa and have the growth potential to raise more funding, create jobs, and generally be making a measurable impact.
Speaking on the initiative, the head of the startup ecosystem, Google sub-Saharan Africa, Folarin Aiyegbusi said, “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 entrepreneurs”. She further encouraged all eligible startups to apply for the fund, noting that applications will end on the 26th of March 2023.
To apply, startups can visit the program page and learn more about the eligibility criteria and how to apply. Shortlisted applicants will be notified and invited to interview in May with an experienced panel led by the company’s team. A pan-European, cross-functional senior selection committee will make a final decision after considering all the information gathered during the application process. From June 11th- 15th, there will be an in-person kick-off in London and Paris. The program starts in June and ends in November 2023.
Upon selection, startups will receive up to $150,000 equity-free cash awards and up to $200,000 per startup in Google Cloud credits, support in form of training, and access to a network of mentors to assist in tackling the challenges unique to each startup.
What to expect
- Startups will select three goals or OKRs to work on for the duration of this program.
- Founders will be assigned a dedicated Google advisor.
- Founders will be connected to meet mentors monthly via Google Meet.
- Startups can build community with other program participants and partake in workshops and skill-building online sessions.
Countries Eligible for the Funds
The application is open to entrepreneurs in selected African countries: Botswana, Cameroon, Côte D’Ivoire, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zimbabwe.
Investors King understands that by funding Black founders, Google is promoting wealth generation and job creation in Africa. The first and second cohorts of the Black founder’s funds supported 110 black-owned startups on the African continent.
