Google invites Black SA founders to apply for startup financing

Start-ups operating and headquartered in South Africa that create solutions for the African or global market and have demonstrated significant market fit and growth potential are eligible to apply for the fund.

To qualify, startups must have at least one Black South African founder with relevant experience, a strong and committed team, a working product that uses or has the potential to leverage AI, and be compatible with Google products and have the potential to leverage them for development.

The hybrid program will run from 2024 to March 2025 and will see 15 selected Black-owned startups in South Africa receive equity-free cash awards of up to $50,000 (over R1 million), loan in cloud in the amount of PLN 200,000 USD (R3.6 million), one-time -one training and networking with mentors to help address the unique challenges facing every startup.

Funding for the Google for Startups Accelerator Africa: Black Founders program will be distributed through the local implementation partner.

“Startups in Africa are key drivers of innovation, economic growth and social progress,” said Folarin Aiyegbusi, head of startup ecosystem at Google Sub-Saharan Africa.

“By investing in black-owned startups in South Africa, we are driving systemic change and promoting the job creation and wealth generation of the future.”

Applications to the Google for Startups Accelerator Africa: Black Founders program can be found here. Entries close on October 14, 2024.