Applications for the third cohort of Google’s Black Founders Fund for entrepreneurs in Africa and Europe have been made public. This was announced in a statement released on Tuesday in Lagos by Folarin Aiyegbusi, Google’s Director of Startup Ecosystem for sub-Saharan Africa.
He said that the technology business would set aside $4 million this year to help qualifying companies started by people of color. According to Aiyegbusi, the initiative was in accordance with its dedication to supporting black-founded enterprises and digital transformation.
He said that startups with operations and headquarters in Africa or with a physical presence there might apply for the BFF. He said that startups that wish to apply should be benefiting the black community or early-stage startups with black founders or diverse founding teams.
Aiyegbusi said that startups should be building for Africa and the global market, have the growth potential to raise more funding and create jobs.
According to him, selected startups will receive between $150,000 and $200,000 equity-free cash awards and per startup in Google Cloud credits, support in the form of training and access to a network of mentors to assist in tackling the challenges unique to each startup.
“Startups are a critical driver of innovation, economic growth and social progress especially in Africa and the support that the selected startups will receive will go a long way to unlock the potential and promote growth in the African tech ecosystem and the next generation of African tech entrepreneurs.
‘’We encourage all eligible startups to apply following the successful completion of two cohorts of the BFF, the programme has supported a total of 110 black-owned startups across Africa,’’ he said.
He said that 60 growth-stage startups were selected and supported through the programme last year in Africa.
Aiyegbusi said that Africa has a growing population with one in three Africans estimated to be under 35 years by 2050.
