Google has offered three funding and business support of opportunities for African businesses to grow and thrive.
The global tech company in a statement on Monday said it has opened applications for a new $3 million Black Founders Fund (BFF) Africa programme, and a Google.org-backed $3 million grant to the Tony Elumelu Foundation.
It added that applications for Google for Startups Accelerator (GFSA) Africa class opened earlier this year has offered 15 start-ups from across the continent to join the 6th class of the programme that will start on June 21, 2021.
Google said the programmes showed its commitment to growing Africa’s startup ecosystem and provide support to female entrepreneurs on the continent.
The three-month GFSA online programme, according to Google, includes virtual training bootcamps, mentorship and Google product support, is designed to support the selected businesses through their early growth phases.
The global tech company said a new $3 million Google for Startups Black Founders Fund Africa is launching as part of Google’s global commitment to support underserved communities.
It said the fund, which is part of the company’s racial equity commitments announced in June 2020, will provide cash awards and hands-on support to 50 Black-led startups in Africa.
Unlike most startup investments, Google said the fund did not require founders to give up any equity in exchange for funding.
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The statement said Google will be working with the Co-Creation Hub, a Google for Startups partner and leading tech community hub with presence in Nigeria, Kenya and Rwanda, to distribute the funding to the selected companies across Africa.
Google has opened applications for access to funding, as well as technical and business support, for 50 early-stage startups across the continent in 2021.
it said the BFF Africa is open to all startups in Botswana, Cameroon, Côte d’Ivoire, Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda and Zimbabwe, that meet the eligibility criteria and will close on July 7, 2021.
The Co-founder & CEO at Co-Creation Hub, Bosun Tijani, said, “It’s encouraging to see Google’s continued dedication to strengthening and elevating the startup ecosystem in Africa. Google was one of the early believers in tech entrepreneurs on the continent and this support over the last 10 years reflects a thoughtful commitment.
“This programme is extremely timely and will not only empower founders across the continent but also deepen the pipeline and unlock follow-on funding from both local and foreign investors.”
It added that the $3 million grant support to the Tony Elumelu Foundation will go towards providing entrepreneurship training, mentorship and coaching to at least 5,000 women with low digital skills from rural areas and currently operate in an informal sector.
Seed capital in the form of one-time cash grants will also be provided to 500 African women aspiring entrepreneurs in Kenya, Nigeria, South Africa and select Francophone countries.
The Managing Director of Google Sub-Saharan Africa, Nitin Gajria, “We are dedicated to building a world where all women can thrive. According to data collected by the World Bank in 10 African countries, male-owned enterprises have six times more capital than female-owned enterprises.
“This huge capital gap is not stopping the rise of female entrepreneurs, but it slows them down and makes their journeys that much more challenging. We hope that the support to The Tony Elumelu Foundation will help accelerate the growth of women techmakers and entrepreneurs in Africa.”
The CEO at Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said, “We are delighted to disburse the Google.org grant to scale our ongoing efforts to empower young African entrepreneurs as we believe this will be instrumental in building much-needed businesses and resilient economies.”
