Google for Startups has opened applications for the third cohort of the Black Founders Fund.
The search giant has committed $4M to support Black-led startups in Africa and Europe.
Google’s Black Founders Fund aims to address the inequality in venture capital (VC) funding and provide Black startup founders with tools and resources to help scale their businesses.
- The search giant claims that only 0.25% of VC funding was given to Black-led startups before launching the Black Founders Fund.
- Eligibility requirements state that startups must have a Black founder or diverse founding teams, be between Pre-Seed and Series A, offer a scalable product or service, and be ready to go global.
- Selected startups will receive up to $150,000 equity-free cash awards and up to $200,000 per startup in Google Cloud credits, including technical training and access to a network of mentors to help startups achieve their broader goals.
- The application period is open until March 26, 2023.
