Applications for the second batch of the Google for Startup Black Founders Fund (BFF) for Africa are currently being accepted.
Following the success of the first cohort last year, Google has pledged an extra $1 million in funding and support for ten additional founders this year. A total of $4 million will be committed to 60 qualifying black-founded enterprises across Africa.
The BFF Africa is accessible to entrepreneurs in Botswana, Cameroon, Côte d’Ivoire, Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, and Zimbabwe who match the eligibility criteria. While these 13 countries are the primary focus because of their vibrant tech and startup ecosystems, excellent submissions from other African countries will be evaluated as well.
Selected firms will get non-dilutive financial rewards ranging from $50,000 to $100,000, as well as up to $200,000 in Google Cloud credits, training, and access to a network of mentors to help them overcome the problems that each startup faces. The deadline for applications is May 31, 2022, with the winners being announced on July 29, 2022.
The following African companies are eligible to participate in the BFF: Startups benefiting the black community, operating and headquartered in Africa, startups with a diverse founding team with at least one black founding member; those with a legal presence on the continent and building technology solutions for Africa and the global market; and those with the growth potential to raise more funding and create jobs.
“The Black Founders Fund Africa underlines our commitment to fostering innovation in underrepresented communities,” said Folarin Aiyegbusi, SSA’s Head of Startup Ecosystem. We are devoted to helping black-led tech firms thrive, expand, and assure the success of communities and economies in our region, despite an unfair venture capital funding environment. The fund will provide monetary prizes and hands-on support to 60 African Black-led enterprises, with the goal of assisting in the development of affordable solutions to basic difficulties facing those at the bottom of the socioeconomic pyramid.”
As part of Google’s racial equity initiatives, the Google for Startups Black Founders fund was formed in the aftermath of the 2020 Black Lives Matter campaign. The program is a commitment to increasing economic opportunity for Black entrepreneurs.
The BFF provides equity-free monetary assistance to entrepreneurs in the region, allowing them to meet immediate demands such as paying employees, funding inventories, and keeping software licenses.
“We are confident that the support provided to the black founders will enable them to expand their businesses and, as a result, generate economic growth in Africa as they find solutions and give back to their communities,” Aiyegusi remarked.
