Google, in its commitment to fostering entrepreneurship and supporting underrepresented communities, has unveiled the 25 selected startups for its 2023 Black Founders Fund cohort in Africa.
The program aims to empower black-led startups in the continent, providing them with funding, mentorship, and access to resources necessary for their growth and success.
The Black Founders Fund is part of Google’s ongoing efforts to promote diversity and inclusion.
Now in its third year, the Fund supports Black founders by addressing the inequality in VC funding in Africa’s tech ecosystem.
According to Google, this year, each selected startup will receive up to $150,000 in non-dilutive cash awards, $200,000 in Google Cloud credits, Google Ads support, and one-on-one mentoring from Googlers and industry experts.
Since its inception in 2021, participating founders have reportedly seen a 21% rise in employment, with women filling 46% of these positions, and a notable 7% increase in monthly recurring revenue to over $6.1 million.
Here are the selected startups for the 2023 cohort:
Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region.
AfriLabs, the leading network of technology and innovation hubs in Africa, has announced the addition of 18 new hubs to its community.
SEACOM LTD, one of the leading Pan-African data services providers, has secured $207 million in funding from the International Finance Corporation (IFC) to accelerate digital connectivity in seven African countries.
© 2021 Empower Africa. All rights reserved.