American technology giant, Google, has reopened applications for the second cohort of its Startup Black Founders Fund for Africa.
Following the improvement and success of its first cohort, the firm said it will increase its commitment to $4m in funding and give support to 10 more founders.
The firm stated that the Black Founders Fund Africa is open to startups that meet the eligibility criteria in thirteen African countries which include Botswana, Cameroun, Côte d’Ivoire, Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, and Zimbabwe.
Even though the thirteen African countries are its major focus, strong applications from other African countries will also be considered, the statement disclosed further.
In a statement by the Head of Startup Ecosystem, SSA, Folarin Aiyegbusi, it was mentioned that the Black Founders Fund Africa is committed to supporting innovation in underserved areas.
Aiyegbusi stated that Black-led tech startups face an unfair venture capital funding environment and that is why the firm is committed to helping them thrive, grow to be better and ensure the success of communities and economies in our region.
He further added that the fund will provide cash awards and hands-on support to 60 Black-led startups in Africa.
Selected startups, according to Aiyegbusi, will receive between $50,000 and $100,000 non-dilutive cash awards and up to $200,000 per startup in Google Cloud credits, support in the form of training, and access to a network of mentors to assist in tackling the challenges unique to each startup.
