This archive report was first published on 22 June 2021.
Google has announced a significant investment in African startups, committing Sh642 million to support entrepreneurs and communities across the continent.
On June 22, 2021, Google's Managing Director for Africa, Nitin Gajria, and Rowan Barnett, Head of Google.org EMEA, revealed the company's plans to reaffirm its commitment to Africa through various programs.
The initiatives include a $3 million Black Founders Fund for African startups and a $3 million Google.org grant to help low-income communities develop entrepreneurial skills and funding.
According to Google, the funding will not only provide capital but also access to the best of Google resources, enabling African founders to grow their businesses.
As part of the program, Google has invited 15 companies from across the continent to the sixth class of the Google for Startups Accelerator: Africa program.
The Google for Startups Black Founders Fund Africa will provide grants and technical assistance to early-stage startups led by black and diverse teams, or with a goal of advancing the Black community.
Each selected company will receive up to $100,000 in cash awards, as well as $220,000 in Google Cloud Credits and Ad Grants, and mentoring, technical, and scaling assistance from Google.
The $3 million Google.org grant will target entrepreneurs tackling day-to-day problems on a smaller scale, operating beyond the tech startup scene.
The funding will be given to the Tony Elumelu Foundation, which will provide entrepreneurship support to at least 5000 women and 500 African female informal business-owners in rural and low-income communities.
“We believe this will enable and prepare these women who otherwise wouldn’t have had the opportunity to navigate their independent businesses journey through the critical start-up and early growth phase,” Google representatives said.
