The tech giant, Google, has shortlisted 60 African startup businesses for the second cohort of the Google for Startups Black Founders Fund (BFF).
The 60 startups will get a total of $4 million in funding and help to help them grow their businesses.
According to the company, the Google for Startups Black Founders Fund programme, since its launch in April 2012, has created more than 4,600 jobs and raised more than $290 million in funding.
Eden Life, Lifebank, Bee, Healthtracka, Mapha, Healthlane, Eversend, Brastorne, Kapsule, Garri Logistics, Ajua, Built, Norebase, Flex Finance, FlexPay, Exuus, KUDIGO, and Keep IT Cool are some of the startups that were chosen.
Google stated that it will introduce the grantees to the company’s products, connections, and best practices to enable them to level the playing field as they develop improved products and services that further benefit the African economy.
The startups that will receive non-dilutive awards of $50,000 to $100,000 and up to $200,000 in Google Cloud credit will also get a 6-month training that comprises access to a network of mentors to assist them in handling challenges unique to them. They will participate in customised workshops, support networks, and community-building programs.
Nigeria has the most grantees, comprising 23 startups, with Kenya having 12 startups benefiting as well.
Other countries, including Rwanda (6), South Africa (5), Uganda (4), Cameroon (3), Ghana (3), Ethiopia (2), Botswana (1), and Senegal (1), make up the total list of 60 grantees.
In 2021, 93% of the funding went to startups with a male Chief Executive Officer, while female-led startups raised less than 1% of the funding.
To help close the gap, 50% of the grantees are businesses run by women and work in fintech, healthcare, eCommerce, logistics, agritech, education, hospitality, smart cities, and transportation.
Read: Google’s Africa Investment Fund Invests in Lori Systems
Folarin Aiyegbusi, who is in charge of Google’s startup ecosystem in Africa, says, “Africa is a diverse continent with a lot of opportunities, but it faces a problem in that venture capital funding flows aren’t as diverse as they could be.”
So, he said that the Black Founders Fund program will be able to fill the funding gap between startups run by foreigners and startups run by Africans.
