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2022 Google Startups Black Founders Fund for African Entrepreneurs ($4 million Fund)

Silas Bamigbola June 11, 2022 95

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Applications for the 2022 Google Startups Black Founders Fund are now open for interested and eligible African entrepreneurs.

JOIN US FOR MORE ON: WHATSAPP or TELEGRAM

The fund is an investment commitment of $4 million to 60 eligible black-founded startups across Africa, getting at least $100,000.

Following the success of the first cohort last year, Google will increase its commitment with an additional $1 million in funding and support for ten more founders this year.

Details:

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The Black Founders Fund is intended for startups led by founders who self-identify as Black and are based in Africa. We want to hear from you if your product is in-market and you’re ready to fundraise.

In 2021, the Google for Startups Black Founders Fund invested $3M into 50 Black led-startups in Africa. Since then, the selected startups have raised $73M+ in follow-on funding, hired more staff, and grown their revenues.

Requirements:

To be considered for the Google Startups Black Founders Fund, you must meet the following requirements;

Early-stage startups with black founders or diverse founding teams,
Startups that are benefiting the black community,
Operating and headquartered in Africa,
Startups with a diverse founding team with at least one black founding member;
Those having a legal presence on the continent and building technology solutions for Africa and the global market;
Those who have the growth potential to raise more funding and create jobs.

Duration and Reward

Access to capital up to $100K in equity-free cash will be awarded to each startup.
We connect founders with the very best of Google’s people, products, and practices.
At its core, the Black Founders Fund is a global initiative. Selected founders can connect with founders from all over the world.

How To Apply

The winners will be announced on 29 July 2022.
Interested and qualified entrepreneurs should click on the apply button below to commence their application.