We are excited to announce that
we are partnering with Google for Startups to lead the disbursement of the Black Founders Fund Africa. This fund
will provide grants and technical support to early-stage startups in Africa to
grow their companies and create meaningful impact in their communities. The
fund, which is a $3M non-dilutive (equity-free) fund, will be allocated across
a pipeline of 50 investable early-stage startups in Africa. Selected companies
will receive the following:
Up to $100,000 in cash awards.
Each startup will receive either $50,000 or $100,000. Funding varies according
to each startup’s product development stage, current needs, and how much
they’ve already raised. $220,000 in Google Cloud Credits and Ad Grants will be
given. Mentoring, technical and scaling assistance from the best of Google and
its resources will be available. Who is eligible? A startup that is
headquartered in Africa or has a legal presence on the continent, a founding
team that is diverse, with at least one Black C-level founding member, a Technology
startup with a live product in market or business where technology is core to
their ability to scale (not for consultancies or not-for-profits)
Speaking
on the launch of the Google For Startups Black Founders Fund programme, Bosun Tijani, CEO Co-Creation Hub (CcHUB) and iHub, says, “It
is heartwarming to see Google's continued commitment to strengthening and
elevating the start-up ecosystem in Africa. Google was one of the early
believers in tech entrepreneurs across Africa and the evolution of the support
over the last 10 years reflect a thoughtful and contextualized commitment. This
programme will not only empower founders across the continent but also deepen
the pipeline and unlock follow-on funding from both local and foreign
investors. It is extremely timely." The deadline for application is
July 7th 2021.
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