• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Google sets up $50M fund to invest in African startups

October 6, 2021 by David Barret Leave a Comment

Google plans to invest up to $50 million in African early and growth-stage startups, ramping up efforts to support more businesses on the continent.

Google made known its plans today in a virtual event where CEO Sundar Pichai announced the tech giant’s intention to commit $1 billion over the next five years in tech-led initiatives in Africa.

These initiatives range from improved connectivity via Google’s subsea cable Equiano to investments in small businesses and startups.

Up until now, Google has fulfilled its obligations in the latter through its Google for Startups Accelerator Africa program and the recently launched Black Founders Fund.

The accelerator program has supported more than 80 startups in four years providing equity-free resources. On the other hand, the Black Founders Fund, a $5 million fund, gives dilutive cash awards to black-led startups in the U.S. and Africa.

So far, 50 startups have been selected, each receiving $100,000 in equity-free capital along with credits from Google Cloud, Google.org ads grants, and additional support.

Google

Image Credits:

Unlike both initiatives, the newly announced $50 million fund will see Google take equity in high-growth startups around Africa. 

In terms of countries and sectors, Nithin Gajria, the managing director of Sub-Saharan Africa, Google, said the Africa Investment Fund doesn’t have any preference yet.

He adds that the fund might work in a similar fashion as the Google for Startups Accelerator program. Although Africa has a Big Four in Nigeria, Kenya, South Africa, and Egypt, the accelerator has made sure to accept startups from overlooked regions on the continent.

Last year, for instance, the accelerator accepted 20 startups from seven countries — Nigeria, South Africa, Rwanda, Ethiopia.

For startups who get investments from the Africa Investment fund, Google says they will have access to its employees, network, and technologies.

More to follow.

Google confirms $1B investment into Africa, including subsea cable for faster internet

Source Link Google sets up $50M fund to invest in African startups

David Barret
David Barret

Related posts:

  1. Ryanair ends talks with Boeing on large 737 MAX 10 order
  2. Here they go again – ABBA reunite for first new album in 40 years
  3. Catwalk shows return at hybrid London Fashion Week
  4. China gorges on American grain-fed beef amid shrinking supplies from Down Under

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Project Hail Mary Trailer First Look: What Would Happen If The Sun Got Darker?
  • Newly Discovered Cell Structure Might Hold Key To Understanding Devastating Genetic Disorders
  • What Is Kakeya’s Needle Problem, And Why Do We Want To Solve It?
  • “I Wasn’t Prepared For The Sheer Number Of Them”: Cave Of Mummified Never-Before-Seen Eyeless Invertebrates Amazes Scientists
  • Asteroid Day At 10: How The World Is More Prepared Than Ever To Face Celestial Threats
  • What Happened When A New Zealand Man Fell Butt-First Onto A Powerful Air Hose
  • Ancient DNA Confirms Women’s Unexpected Status In One Of The Oldest Known Neolithic Settlements
  • Earth’s Weather Satellites Catch Cloud Changes… On Venus
  • Scientists Find Common Factors In People Who Have “Out-Of-Body” Experiences
  • Shocking Photos Reveal Extent Of Overfishing’s Impact On “Shrinking” Cod
  • Direct Fusion Drive Could Take Us To Sedna During Its Closest Approach In 11,000 Years
  • Earth’s Energy Imbalance Is More Than Double What It Should Be – And We Don’t Know Why
  • We May Have Misjudged A Fundamental Fact About The Cambrian Explosion
  • The Shoebill Is A Bird So Bizarre That Some People Don’t Even Believe It’s Real
  • Colossal’s “Dire Wolves” Are Now 6 Months Old – And They’ve Doubled In Size
  • How To Fake A Fossil: Find Out More In Issue 36 Of CURIOUS – Out Now
  • Is It True Earth Used To Take 420 Days To Orbit The Sun?
  • One Of The Ocean’s “Most Valuable Habitats” Grows The Only Flowers Known To Bloom In Seawater
  • World’s Largest Digital Camera Snaps 2,104 New Asteroids In 10 Hours, Mice With 2 Dads Father Their Own Offspring, And Much More This Week
  • Simplest Explanation For “Anomalous” Signals Coming From Underneath Antarctica Ruled Out
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version