Application is now open for Google for Startups Black Founders Fund for Africa

The second cohort of the Black Founders Fund for Africa has accepted applications, according to Google for Startups.

Google has extended its financial commitment to eligible businesses by investing an additional $1 million.

For this cohort, Google for Firms will invest $4 million in 60 qualified black-founded startups in Africa.

The Black Founders Fund Africa is open to entrepreneurs in Botswana, Cameroon, Côte d’Ivoire, Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, and Zimbabwe that match the eligibility criteria.

While these thirteen countries are the primary focus because of their vibrant tech and startup ecosystems, good submissions from other African countries will be evaluated as well.

Selected firms will get non-dilutive financial rewards ranging from $50,000 to $100,000, as well as up to $200,000 in Google Cloud credits, training, and access to a network of mentors to help them overcome the problems that each startup faces. The deadline for applications is May 31, 2022, and the winners will be announced on July 29, 2022.

“Our dedication to supporting innovation in underrepresented communities is demonstrated through the Black Founders Fund Africa.” We are devoted to helping black-led tech firms thrive, expand, and assure the success of communities and economies in our region, despite an unfair venture capital funding environment. “We believe that the fund will aid in discovering inexpensive solutions to basic difficulties facing those at the bottom of the socio-economic pyramid in Africa,” said Folarin Aiyegbusi, SSA’s Head of Startup Ecosystem.

The Black Founders Fund for Africa will strive to give equity-free monetary assistance to entrepreneurs in the region, allowing them to meet immediate demands such as paying employees, funding inventories, and keeping software licenses.

The following African companies are eligible to participate in the Black Founders Fund (BFF):

a. businesses with black founders or diverse founding teams in their early stages
b. Companies that assist the African-American community
based in Africa and headquartered there,
c. businesses with a diverse founding team that includes at least one black founder;
d. those with a legal presence on the continent who are developing technology solutions for Africa and the rest of the world;
e. Those has the ability to raise further funds and create jobs.

“We are hopeful that the support received by the black founders will enable them to grow their business and in turn drive economic growth in Africa as they create solutions and give back to their communities,” concluded Aiyegusi.