This archive report was first published on 21 June 2021.
On June 21, 2021, Google announced a $6 million investment in African startups through three programmes aimed at supporting women and young entrepreneurs.
The tech giant has partnered with the Tony Elumelu Foundation to grant $3 million to support women-owned startups in Africa. The fund will provide entrepreneurship training, mentorship, and coaching to at least 5,000 women, as well as seed capital in the form of one-time cash grants to 500 African women aspiring entrepreneurs.
Nitin Gajria, Managing Director of Google Sub-Saharan Africa, said, "We are dedicated to building a world where all women can thrive. According to data collected by the World Bank in 10 African countries, male-owned enterprises have six times more access to capital than female-owned enterprises. This huge capital gap is not stopping the rise of female entrepreneurs, but it slows them down and makes their journeys that much more challenging."
Google has also launched a $3 million fund dubbed Black Founders Fund for Africa (BFF Africa) to benefit 50 budding startups in 13 African countries. The fund aims to provide cash awards and hands-on support to black-led startups in Africa without ceding any equity stake.
Additionally, Google for Startups Accelerator Africa class 6 will select 15 startups to participate in a three-month online programme comprising virtual training bootcamps, mentorship, and Google product support.
