Good news for African Developers. Google has decided to increase the fund size to Shs470 million for 60 black founders from Africa. African developers, have you heard about the Black Founders Fund? If you do not know, the American tech giant will be granting a total of Shs470 million in funds to up to 60 startup companies. The corporate aims at helping give more opportunities to Black developers to help them grow and develop their businesses using technology.
Google launched the Black Founders fund to spur innovation on the continent. Google’s Black Founders fund hopes to inject over Shs470 million into the African technology ecosystem through investment and mentorship.
To learn more about the Black Founders Fund, visit the following link.
The 2022 Startups Black Founders fund program is available to all entrepreneurs. However, Google has established criteria for selecting the best businesses.
Google has announced that the application is open to entrepreneurs with existing businesses in selected African countries: Cameroon, Ghana, Nigeria, Botswana, Côte d’Ivoire, Uganda, Tanzania, Rwanda, South Africa, Kenya, Zimbabwe, Ethiopia, and Senegal.
Participants with excellent businesses from other African countries are welcomed because these African countries have developed a thriving tech ecosystem with a good number of startups.
To be considered for the competition, startups must be based in Africa or have a significant presence there. To be considered for the competition, startups must be based in Africa or have a significant presence there.
To qualify for this program, Black founders and diverse teams with at least one black founder are preferred.
Startups must have a high likelihood of getting additional funding.
Startups must focus on bringing technology solutions to Africa and the rest of the world.
Start-ups should have products that are compatible with the Google Eco-system.
The Google for Startups Black Founders Fund offers a variety of benefits. Selected businesses will receive equity-free capital from Shs6,000,000 to Shs10,000,000 and a Shs20,000,000 credit for Google Cloud services. In addition, founders will receive access to a network of mentors and a community of entrepreneurs.
The amount of funding available for a project depends on the stage of product development, present demands, and the amount of money generated so far. Businesses with funding from other organizations can still apply for the BFF programs.
Click here to apply.