Google Announces Startup Fund (Ksh 465M Fund) Targeting Kenyans With Unique Ideas; To Support Innovation in Underserved Areas
Google has announced this year’s Google for Startup Black Founders Fund (BFF) for Africa, and Kenyans with innovative ideas now have an opportunity to grow their businesses.
According to the IT giant, the fund would invest Ksh465 million (USD4 million) on the program, which will help 60 African start-ups.
Successful applicants will get a monetary incentive of between Ksh5 million and Ksh10 million in exchange for advancing their ideas.
The start-ups will also receive up to Ksh20 million in Google cloud credits, as well as access to a network of mentors who will assist them in overcoming their specific issues.
Kenya is one of 12 nations targeted by the fund, which also includes Botswana, Cameroon, Côte d’Ivoire, Ghana, Ethiopia, Nigeria, Rwanda, Senegal, and South Africa.
Google Announces Startup Fund
In a statement, Google revealed that it launched the project to support innovation in underserved areas.
“The Black Founders Fund Africa demonstrates our commitment to supporting innovation in underserved areas. Black-led tech startups face an unfair venture capital funding environment and that is why we are committed to helping them thrive, grow to be better and ensure the success of communities and economies in our region.
“The fund will provide cash awards and hands-on support to 60 Black-led startups in Africa, which we hope will aid in developing affordable solutions to fundamental challenges affecting those at the base of the socio-economic pyramid in Africa,” explained Head of Startup Ecosystem, SSA, Folarin Aiyegbusi.
How to Apply
Applicants must have an early-stage start-up with black founders or diverse founding teams based on the African continent.
The start-ups should also assist the African Community by developing technology solutions for Africa and the global market, as well as demonstrating the ability to create jobs and grow.
Interested candidates should visit www.campus.co/africa/black-founders-fund/ where they will be required to input their email address.
A questionnaire asking for personal details as well as that of the start-up will be presented and should be duly filled.
The application duration closes on May 31, 2022, and the list of winners will be unveiled on July 29, 2022.
Google for Startups Black Founders was founded in 2020.