Breaking barriers and empowering innovators — Get to know the 25 visionary startups in Google Africa’s Black Founders Fund.
- Google Africa unveils its highly anticipated Black Founders Fund cohort for 2023.
- The program aims to empower underrepresented entrepreneurs and provide resources and funding.
- The top 25 startups were chosen based on innovation, market potential, and industry impact.
- 72% of the selected startups are led or co-founded by women.
- The startups are diverse in leadership, geography, and sector focus.
In an effort to fuel innovation and support the growth of African startups, Google Africa has unveiled its highly anticipated Black Founders Fund cohort for the year 2023.
This prestigious program aims to empower underrepresented entrepreneurs and provide them with the necessary resources and funding to turn their visions into reality. With a diverse range of industries and groundbreaking ideas, these 25 startups are poised to make a significant impact on the African business landscape.
The Google Africa Black Founders Fund is a testament to Google’s commitment to fostering entrepreneurship and driving economic development across the continent. This year, the program received an overwhelming number of applications from all corners of Africa, highlighting the immense potential and talent present in the region’s startup ecosystem. After a rigorous selection process, the top 25 startups were chosen based on their innovative ideas, market potential, and the impact they can create in their respective industries.
Breaking barriers and empowering innovators: Get to know the 25 visionary startups in Google Africa's Black Founders Fund. Share on XGoogle for Startups Black Founders Fund: Africa provides cash awards — without giving up equity in return — and hands-on support to help Black entrepreneurs in Africa build and grow their businesses.
Google Africa unveiled the 25 African startups selected for the Google for Startups Black Founders Fund. — 72% of which are led or co-founded by women. These startups are diverse not only in their leadership but also in their geographical representation and sector focus. In addition to equity-free cash awards, Black Founders Fund recipients receive ongoing Google mentorship, Google Cloud credits, and product support to help them navigate every stage of their startup journey.
Let’s take a closer look at some of the remarkable startups that have been selected for the 2023 cohort:
Folarin Aiyegbusi, Head of Google’s Startup Ecosystem Africa, expressed his thoughts on the new cohort, stating, “Startups play a significant role in driving Africa’s digital transformation. We are excited to collaborate with this group of innovative founders who are utilizing technology to address the most critical challenges in Africa.”
Please watch the short promotional video provided below.
https://twitter.com/googleafrica/status/1671109136635817985?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1671109136635817985%7Ctwgr%5E44190ed58fc5a408c131546bad585a654a9c06dd%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fafridigest.com%2Fmeet-25-african-startups-receiving-4m-google-year%2F
Why is Google for Startups doing this?
Google believes that empowering entire communities is a direct result of funding Black founders. They recognize that access to capital and support is crucial in creating greater economic opportunities. Leveraging their unique position, Google aims to provide funding and support to help founders expand their businesses, thereby creating an environment for their success and enabling them to have a significant impact on their communities. The primary objective of these funds is to enhance economic opportunities for promising Black startup founders.
Google for Startups has been actively investing in promising founders since 2021. They have provided $13 million in cash funding to founders across Europe and Africa. These investments have yielded impressive results, with the funded founders subsequently raising a total of $205 million in follow-on funding.
Google for Startups’ ultimate goal is to foster the growth of Black-led startups, encourage innovative solutions to challenging problems, and ultimately generate wealth that benefits the communities they serve.
Benefit for Beneficiaries
The Google for Startups Black Founders Fund offers founders a non-dilutive capital of $150K to support their Black-owned businesses. Alongside the funding, recipients will also receive $100K worth of Google Cloud credits, as well as hands-on mentorship and comprehensive support throughout the organization.
