• 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

  • Have You Seen This Snake? Florida Wants Your Help Finding Rare Species Seen Once In 50 Years
  • Plague Confirmed In Lake Tahoe Area For First Time In 5 Years, California Officials Say
  • Supergiant Star Spotted Blowing Milky Way’s Largest Bubble Of Its Kind, Surprising Astronomers
  • Game Theory Promised To Explain Human Decisions. Did It?
  • Genes, Hormones, And Hairstyling – Here Are Some Causes Of Hair Loss You Might Not Have Heard Of
  • Answer To 30-Year-Old Mystery Code Embedded In The Kryptos CIA Sculpture To Be Sold At Auction
  • Merry Mice: Human Brain Cells Transplanted Into Mice Reduce Anxiety And Depression
  • Asteroid-Bound NASA Mission Snaps Earth-Moon Portrait From 290 Million Kilometers Away
  • Forget State Mammals – Some States Have Official Dinosaurs, And They’re Awesome
  • Female Jumping Spiders Of Two Species Prefer The Sexy Red Males Of One, Leading To Hybridization
  • Why Is It So Difficult To Find New Moons In The Solar System?
  • New “Oxygen-Breathing” Crystal Could Recharge Fuel Cells And More
  • Some Gut Bacteria Cause Insomnia While Others Protect Against It, 400,000-Person Study Argues
  • Neanderthals And Homo Sapiens Got It On 100,000 Years Earlier Than We Thought
  • “Womb Of The Universe”: Native American Tribal Elders Help Archaeologists Decipher Ancient Rock Art In Missouri Cave
  • 16,000-Year-Old Paintings Suggest Prehistoric Humans Risked Their Lives To Enter “Shaman Training Cave”
  • Final Gasps Of A Dying Star Seen Through A Record-Breaking 130 Years Of Data
  • COVID-19 “Vaccine Alternative” Injection Could Be On Fast-Track To Approval From FDA
  • New Jersey Officials Investigate Possible First Locally Acquired Malaria Case Since 1991
  • First-of-Its-Kind Bright Orange Nurse Shark Recorded Off Costa Rica Makes History
  • 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