Google has launched applications for its Startups Accelerator Africa: Black Founders programme in South Africa. The programme aims to support Black-owned startups in the country by offering them funding, training, and networking opportunities.
Programme focuses on black-owned startups to address economic disparities
Google’s initiative comes as part of its broader effort to promote digital inclusion and economic development across Africa. The programme is specifically targeted at startups that are based and operating in South Africa, with solutions for both African and global markets. Eligible startups must have at least one Black South African founder and demonstrate significant growth potential. Additionally, they need to be using or capable of using artificial intelligence (AI) in their products.
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Selected startups will receive equity-free cash awards of up to $50,000 (approximately R1 million), along with $200,000 (about R3.6 million) in Google Cloud credits. The programme will also provide mentorship, networking opportunities, and tailored training sessions to help these startups overcome challenges unique to their businesses.
Google’s ongoing commitment to the South African tech sector
Folarin Aiyegbusi, Google’s Head of Startup Ecosystem for Sub-Saharan Africa, emphasized the role of startups in driving innovation and economic growth. “By investing in South African Black-owned startups, we are driving systemic change and promoting job creation and wealth generation for the future,” he said.
The programme builds on previous efforts by Google to support Black founders across different regions, including Africa, Brazil, Europe, and the United States. Through its Black Founders Fund, Google has already awarded over $30 million to startups, helping to address disparities in venture capital funding for Black entrepreneurs.
South Africa’s startup ecosystem has faced significant challenges in recent years, with data showing a decline in both deal activity and total funding in 2022 compared to 2021. Google aims to address these issues by fostering innovation and growth in the South African tech sector through this targeted accelerator programme.
Government backs Google’s initiative
South Africa’s Minister of Communications and Digital Technologies, Solly Malatsi, praised the initiative, calling it an essential step towards driving innovation and creating jobs in the digital economy. “Government sees tech startups as key drivers of innovation and economic growth in the digital era. They promote digital inclusion by offering accessible and affordable solutions for our communities,” Malatsi stated. He encouraged eligible startups to apply, highlighting the potential for growth and employment creation.
The hybrid programme will run from 2024 until March 2025, with applications closing on 14 October 2024.