Google has announced the second round of the for Startup Black Founders Fund for Africa.
Launched last year as a KSh350 million fund targeting 50 early-stage, black-founded startups in the continent, the fund is part of the company’s racial equity commitments announced in 2020 amid heightened conversations on racial injustice.
Google says it has expanded the fund to KSh465 million this year and the class will accommodate 60 startups. Selected startups will get non-dilutive grants of between KSh5.8 million and KSh11.6 million.
At the same time, the tech giant will also give up to KSh23.2 million per startup in Google Cloud credits, Google Ad Grants, as well as training and mentorship support from the company’s veterans.
The fund targets startups in Kenya, South Africa, Nigeria, Ghana, Tanzania, Uganda, Ethiopia, Botswana, Cameroon, Ivory Coast, Rwanda, Senegal, and Zimbabwe.
Applicants must have an early-stage start-up with black founders or diverse founding teams, and should be headquartered in Africa.