Tech Giant, Google has announced applications for the third cohort of the Black Founders Fund for Startups opened in Africa and Europe in line with its commitment to digital transformation and support to black-founded startups.
This year, Google has committed $4 million to support eligible black-founded startups.
Startups operating and headquartered in Africa or having a legal presence on the continent are eligible to apply for the Black Founders Fund. Other eligibility criteria for startups that wish to apply are that the business should be benefiting the black community or that early-stage startups have black founders or diverse founding teams. The startups should be building for Africa and the global market, have the growth potential to raise more funding, create jobs and generally be making a measurable impact.
Upon selection, the startups will receive up to $150,000 equity-free cash awards and up to $200,000 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. The applications for the third cohort will close on 26 March 2023.
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