The Google Black Founders Fund for Africa is a Google initiative that helps to fund startups owned by Africans in Africa. It was established in 2021 to help black-owned startups with HQs in Africa scale up their businesses with up to $100,000 in capital and an additional $200,000 in Google Cloud Credit to help black founders granted funding access the best products, people, and practices from Google.
To explain the importance of the program, the giant IT firm wrote:
“If we want technology to work for everyone, everyone must build it.” Black African entrepreneurs have disproportionately limited access to the networks and capital required to grow their businesses. Google announced the Black Founders Fund in 2020, with less than 0.5% of global venture capital (VC) funding going to Black-led startups, and has since deployed $20M in funding to founders across the US, Europe, Africa, and Brazil. The latest $4 million Black Founders Fund in Africa provides up to $100,000 in the capital, up to $200,000 in Google Cloud Credits, and access to the best of Google—people, products, and practices.”
The initiative is part of Google’s racial equity commitment known as the Startups Black Founders Fund program, announced in 2020 but started operation in 2021, with US$3 million strictly for black founders in Africa. The first batch of BFFA saw the selection of 50 black founders from 9 African countries that have raised over $87 million in funding.
The Google Black Founders Fund for Africa is a Google initiative that helps to fund startups owned by Africans in Africa. It was established in 2021 to help black-owned startups with HQs in Africa scale up their businesses with up to $100,000 in capital and an additional $200,000 in Google Cloud Credit to help black founders to access the best products, people, and practices from Google.
To explain the importance of the program, the giant IT firm wrote:
“If we want technology to work for everyone, everyone must build it.” Black African entrepreneurs have disproportionately limited access to the networks and capital required to grow their businesses. Google announced the Black Founders Fund in 2020, with less than 0.5% of global venture capital (VC) funding going to Black-led startups, and has since deployed $20M in funding to founders across the US, Europe, Africa, and Brazil. The latest $4 million Black Founders Fund in Africa provides up to $100,000 in the capital, up to $200,000 in Google Cloud Credits, and access to the best of Google—people, products, and practices.”
The initiative is part of Google’s racial equity commitment known as the Startups Black Founders Fund program, announced in 2020 but started operation in 2021, with US$3 million strictly for black founders in Africa. The first batch of BFFA saw the selection of 50 black founders from 9 African countries that have raised over $87 million in funding.
Benefits of Google Black Founders Fund for Africa
There are three core areas on which Google Black Founders Fund for Africa focuses. These core values or benefits are to provide black founders in Africa with the following:
- The best of Google: Google, as of today, is one of the most powerful entities on Earth. The firm is the king-kong of the internet and has dominated virtually or has a presence in almost every sphere of the internet. You will find Google’s products, from business to health, work, entertainment, technology, and many others. Some of its products are free, like using the Google Search Engine. Others come with freemium, while others are paid for.
Good numbers of its products range from YouTube, Android Auto, Android OS, Android TV, Calendar, Cardboard, Chrome Enterprise, Chromebook, Chromecast, Connected Home, Docs, Drive, Google Chat, Google Classroom, Google Flight, Google Groups, Google Health Studies, Google Home App and a host of others.
And these are potent products that can help entrepreneurs grow. By being selected as one of the black startup founders in Africa, Google will give the founder access to its effects, people, and best practices to help them scale through.
- Access to capital: The last cohort of the program gave Up to $100K in equity-free cash to the 60 lucky founders. This fund is meant to help them accelerate their business growth while helping to provide affordable services to its market African Market.
- Global community: As the world continues to spiral on the wheel of change and humans begin to adapt to the Marshall McLuhan vision of a worldwide village, black founders of African descent should be able to interact and solve problems for a global audience. And Google, through this program, wants to give founders access to interact with a worldwide community of founders to share ideas and network.
Eligibility Criteria for Applying
Since the emergence of the program in 2021, the application window has always been open to all entrepreneurs of African descent. However, there are laid down eligibility criteria that an interested founder must meet to be considered for funding.
According to the statement issued by Google, entry for the black founders funding for Africa is opened to startup founders with existing businesses in the continent of Africa, specifically in Nigeria, Cameroon, BotswanaGhana, Côte d’Ivoire, Tanzania, Uganda, Rwanda, Kenya, South Africa, Ethiopia, Zimbabwe, and Senegal.
Google chose these countries as its prime target because they are the most advanced when it comes to technological advancements. They have many startups with a robust tech ecosystem for Google’s kind of business. However, this does not prevent anybody from applying from other African countries like Algeria, Morocco, Angola, Congo, Mali, Niger, and Burkina Faso.
Hence, the primary criteria to be considered in evaluating startups are:
- The startups must be headquartered in Africa or have a strong presence in the African continent.
- An African should operate the startup, or at least one African must be a founding business member.
- The startups must be technologically driven; must have the potency to use available technologies to solve a problem dominant in Africa and the rest of the world.
- The startups must have the potential of being able to raise more capital from external venture capitalists.
- And lastly, the business model must be the type that can be supported by Google’s products, people, and practices.
Some of the 2021/2022 Winners of the Google Black Founders Fund For Africa
2022 Selected Startups
The 2022 cohort startup winners are:
ClinicPesa, COVA, Cedititais, BuuPass, Cauri Money, Clafiya, Built, Brastorne, Bookings Africa, Bee, BailPort, Bag, Awabah, AgriKool, Ajua, Healthtracka, HerVest, Kapsule, Garri Logistics, Haul247, Healthlane, Flex Finance, FlexPay, Gamr, Estate Intel, Eversend, Exuus, DohYangu, Easy Matatu, Eden Life, Pindo, Pivo Africa, QShop, Norebase, OneHealth, PesaChoice, Leja, LifeBank Mapha, Keep IT Cool, KUDIGO, and Kyshia among others.
2021 Selected Startups
The first batch of startups to receive Google funding are:
Bumpa, Bongalo, Chekkit, Angaza Elimu, AquaRech, Babymigo, AC Group, Akiba Digital, Amitruck, CredPal, Crop2Cash, and Curacel, among others.
How To Apply For The Google Black Founders Fund For Africa
To apply for the Google Black Founders Funding for Africa, ensure that your startup meets the outlined requirements. Once you’re confident you’re eligible, quickly go to the application website by clicking the link below.
https://startup.google.com/blackfoundersfund/
Conclusion
Capital is a significant problem in business, and getting funding for black-owned startups has been an issue for years – not to mention startups owned by Africans and operating in Africa, even though Africa is home to 17% percent of the world’s population. But Google’s interest and involvement in Africa has helped brighten up the faces of black founders whose market is the African continent.
So, if you’re a black founder operating in Africa with a business focus on healthcare, fintech, eCommerce, logistics, education, agritech, intelligent cities, and hospitality, and looking for non-dilutive funding of up to $100,000, dust off yourself and prepare to apply for the next Google Black Founders Fund for Africa 2023.
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