Google for Startups is now accepting applications for its Black Founders Fund 2023, designed to support black-owned startups across Africa. The program provides access to capital and resources necessary for early and growth-phase businesses to scale their operations and drive positive change in their respective communities.
Black entrepreneurs across Africa have been harnessing the power of technology to address some of the region’s most pressing challenges, from healthcare to agriculture. However, these startups often lack the funding and resources required to reach their full potential and scale their solutions.
To address this issue, Google for Startups launched the Black Founders Fund in 2020 to help black entrepreneurs overcome these unique challenges and secure the crucial capital needed for their success. The fund’s initial recipients in the US raised millions of dollars in follow-on funding within months, with many attributing their success to their partnership with Google. Last year, the second cohort of recipients for the Black Founders Fund in Africa included a total of 110 startups, which raised over $107 million in follow-on funding, hired 824 staff members, and expanded their revenue growth.
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Eligibility for Google for Startups for Black Founders Fund
The Google for Startups Black Founders Fund is designed to support Black-led startups across Africa. The program provides access to funding, mentorship, and resources to help founders scale their businesses. To be eligible for the fund, your startup must meet the following criteria:
- Be based in Africa.
- Have a Black-led management team.
- Have a functional product or service that has been tested with customers.
- Have a clear and compelling business plan.
- Be able to demonstrate the potential for growth and impact.
Applications for the Black Founders Fund 2023 are now open to black founders in Africa with technology-based products or services in the early or growth phase. Eligible startups must demonstrate the potential to scale and have a black founder playing an active leadership role in the company. Applicants must also be based in one of the eligible countries.
How to Apply for Google for Startups for Black Founders Fund?
To apply, visit the program page at https://goo.gle/ApplyforBFFAfrica to learn more about the eligibility criteria and application process.
Applications will be accepted until March 26. The success stories of startups like Garri Logistics and Brastorne highlight the potential and positive impact of black founders in Africa with the right support and resources.
Source: https://blog.google
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