Applications for the 2021 Black Founders Fund Africa Program For Early-Stage Startups In Africa are ongoing.
About the Black Founders Fund Africa Program
Through the Google for Startups Black Founders Fund Africa program, we are helping early-stage Black-founded firms and startups that serve the continent’s Black community. We seek to close the funding gap that currently exists for Black company entrepreneurs in Africa’s rapidly rising technological sector. This non-dilutive $3 million fund will invest in a pipeline of 50 investable African entrepreneurs.
The Black Founders Fund Africa is open to all qualifying entrepreneurs, with a preference towards alumni of Google for Startups Accelerator and Partner programs. This funding will be combined with mentorship and Google platform credits to assist firms in growing.
A startup that is:
- Headquartered in Africa or has a legal presence on the continent
- Building for Africa and a global market
- Creating jobs, has growth potential to raise more funding, and making an impact
With a founding team that is:
- Diverse, with at least one Black C-level founding member
- Directly supporting the Black community
- Technology startups with a live product in market or business where technology is core to their ability to scale (not for consultancies or not-for-profits)
- Compatibility with Google products—our products can accelerate their growth
- Botswana, Cameroun, Cote D’Ivoire, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zimbabwe.
- Each startup will get a minimum of $50,000 or a maximum of $100,000. Funding is determined by the level of development of each startup’s product, its present needs, and the amount of money already raised
- Non-dilutive (equity-free) cash awards of up to $100,000 per startup
- Up to $220k in Google Ads grants and Google Cloud credits
- Access to a network of mentors to help tackle each startup’s unique challenges.
The Black Founders Fund Africa is designed to help startups led by self-identified Black founders or businesses that directly benefit the Black community. We urge established African entrepreneurs seeking seed investment to apply.
For more information visit the official website of Black Founders Fund Africa