Google says 60 African startups have been selected for the second cohort of the Google for Startups Black Founders Fund for Africa.
The global firm said this on Tuesday during the Google for Startups Black Founders Fund 2022 winner announcement in Abuja. It said the winners would be supported with $4m funding.
According to Google, Nigeria dominates the selection list, which features 23 Nigerian startups. Other countries benefitting from this funding programme include Kenya with 12 grantees, Rwanda with six grantees, South Africa with five grantees, Uganda with four grantees, among others.
It was disclosed that each of the selected startups would get support in the form of a six-month training programme that includes access to a network of mentors to assist in tackling unique challenges.
In addition to being a part of tailored workshops, support networks and community building sessions, the 60 grantees will also get non-dilutive awards of $50,000 and $100,000 and up to $200,000 in Google Cloud credit.
It was disclosed that fund would be distributed through Google’s implementation partner, CcHUB.
Speaking at the event, the Head of Startup Ecosystem, Sub-Saharan Africa, Folarin Aiyegbusi, said “Africa is a diverse continent with massive opportunity but the continent is faced with the challenge of limited diversity in venture capital funding flow. We hope that the Black Founders Fund program will be able to bridge the gap of disproportionate funding between expat startups over local and black-led companies.”
Also speaking at the event was the Director-General, National Information Technology Development Agency, Kashifu Inuwa, who said that the recently passed Nigeria Startup Bill by the National Assembly will help to institutionalise legal frameworks that would enhance startup growth in Nigeria.