25 African startups selected for $4m Google for Startups Black Founders Fund
Summary
Google for Startups has announced the 25 Africa-based startups selected for this years US$4 million Black Founders Fund.Disrupt Africa reported in July 2021 on the US$3 million Google for Startups Black Founders Fund Africa, which is part of Googles racial equity commitments announced in June 2020.Fifty founders were awarded equity-free funding, and for the second edition Google increased its commitment with an additional US$1 million in funding, and supported 10 more founders.For the third cohort, Google again committed US$4 million, and 40 startups have now been selected to receive equity-free cash awards of up to US$150,000, cloud credit of US$200,000, and access to training and networking with mentors. Twenty-five of those are from Africa.Nigeria leads the way with 10 selected ventures Akoma Health, Evolve Credit, Fez Delivery, Herconomy, MDaaS Global, My Pocket Counsel, Orda, Periculum, Raenest, and TruQ. Another five Fleetsimplify, Jumba, Tushop, Uzapoint, and Zydii are from Kenya.Three more are from South Africa, in the shape of HealthDart, Excel At Uni, and Zinacare, while Ghana (BezoMoney and Talamus Health) and Uganda (EzyAgric and Ridelink) had two each. We look forward to working with this group of innovative founders who are using technology to solve some of the most pressing challenges in Africa. The Google for Startups Black Founders Fund is committed to addressing the stark inequality in VC funding by providing black founders with the resources and support they need to succeed, said Folarin Aiyegbusi, head of startups ecosystem for Africa at Google.Ifedayo Durosinmi-Etti, founder of Herconomy, said being chosen for the 2023 Black Founders Fund would fuel its revolutionary vision and accelerate its progress.With the funding and support provided by the program, we will expedite the development of our innovative solutions, enhance support for our valued customers, and expand our presence on an international scale, she said.