The Internet is playing a key role in Africa’s economic transition, generating new possibilities and paving the path for economic and social growth. According to a 2020 report, Africa’s Internet economy is expected to contribute nearly $189 billion to the continent’s overall GDP by 2025, rising to $712 billion by 2050.
The programs, which include a $3 million USD Black Founders Fund for African startups and a $3 million USD Google.org grant to help low-income communities develop entrepreneurial skills and funding, will help Black founders grow their businesses not only by providing capital but also by providing access to the best of Google resources.
Last year Google announced the Startups Black Founders Fund as part of a series of racial equity commitments to close the funding gap and empower Black entrepreneurs in the US, Brazil, and Europe. Following the success of the Black Founders Fund around the world, Google is expanding the program with the first $3M Black Founders Fund in Africa.
Google has partnered with the Co-Creation Hub, a Google for Startups partner and leading tech community hub with a presence in Nigeria, Kenya, and Rwanda, to distribute the funding to the 50 selected companies across Africa.
Applications are open from today until July 7th and eligible startups can visit goo.gle/BFFAfrica now to apply.
$3 million USD Google.org grant
Since 2017, Google.org through a $20M commitment has prioritized funding to nonprofit organizations that support access to economic opportunity for women in Sub-Saharan Africa. Alongside financing, Google provides bespoke learning solutions and mentoring programs required for accelerating women-led companies.