Google has said that 60 eligible black-founded start-ups would receive a total of four million dollars in the second cohort of Google for Start-up Black Founders Fund (BFF).
The Head of Start-up Ecosystem, Google Africa, Mr. Folarin Aiyegbusi, made this known on Tuesday, in a statement announcing the opening of applications to Google for the Start-up Black Founders Fund for Africa.
Aiyegbusi said that following the success of the first cohort in 2021, Google increased its commitment in 2022 with an additional one million dollars in funding, and support for 10 more founders.
He said that it would result in a commitment of four million dollars to 60 eligible, Black-founded start-ups across Africa.
According to him, BFF Africa is open to start-ups in Nigeria, Botswana, Cameroun, Côte d’Ivoire, Ghana, Ethiopia, Kenya, Rwanda, Senegal, South Africa, Tanzania, Uganda, and Zimbabwe.
He said that while the 13 countries were the prime focus due to their active tech and start-up ecosystems, strong applications from other African countries would be considered.
“The fund will provide cash awards and hands-on support to 60 Black-led start-ups in Africa, which we hope will aid in developing affordable solutions to fundamental challenges affecting those at the base of the socio-economic pyramid in Africa.
“We are hopeful that the support received by the Black founders will enable them to grow their businesses and, in turn, drive economic growth in Africa as they create solutions and give back to their communities,” he said.
According to him, selected start-ups will receive between $50,000 and $100,000 in non-dilutive cash awards and up to $200,000 per start-up in Google Cloud credits.
Aiyegbusi said that support in the form of training and access to a network of mentors to assist in tackling challenges unique to each start-up would be provided.
“Start-ups which are benefitting Black communities and those operating and headquartered in Africa, as well as those with diverse founding teams, with at least one Black founding member, are also eligible,” he added.
He said that those having a legal presence on the continent and building technology solutions for Africa and the global market, and those with the potential to raise more funding and create jobs were equally eligible.
