Google to Support 50 African Startups with a $3M Investment
Google has announced the recipients for its Google for Startups Black Founders Fund in Africa. With a $3 Million investment, Google has chosen 50 startups to receive $100K in equity-free cash awards, Google mentorship among other things.
“Through the Google for Startups Black Founders Fund in Africa, we are supporting early-stage Black-founded startups on the continent. We want to bridge the existing fundraising gap for Black startup founders in Africa’s fast-growing technology landscape. This non-dilutive $3 million fund is allocated across a pipeline of 50 investable startups in Africa. The startups also receive Google Ad Grants and Cloud credits, as well as support from experienced experts at Google.”
Overview of the Program by Google
The startups were selected from various countries including, Ethiopia, Cameroon, Kenya, Ghana, Rwanda, Nigeria, Senegal, Zambia, and South Africa.
One of the startups, Bongalo’s founder Epaphrate Minuifuong took to Facebook to announce the news.
“Excited to announce that Bongalo has been selected for the first-ever Google for Startups Black Founders Fund Africa!
Epaphrate Minuifuong, Founder , Bongalo
What does that mean exactly?
We’d received a total of up to $320.000 in awards:
Up to $100,000 in cash.
$120,000 in Google Ads credits.
$100,000 in Google Cloud credits.
And that’s not all:
Added to the non-dilutive funding and we’d receive 6 months of tailored hands-on support from Google for Startups
Honored. Humbled. Excited. Ready to put it to use! Can’t wait to show the world what happens when you #FundBlackFounders.”
