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Google for Startups opens applications for $2 Million European fund for Black founded tech startups 02 March 2021
Source: Google Google for Startups announces applications are now open for $2million (approximately £1.5million) Black Founders Fund for Black-led tech startups across Europe. With less than 0.25 percent of venture capital (VC) funding going to Black-led startups in the UK, and only 38 Black founders receiving venture capital funding in the last 10 years, Black founders are disproportionately lacking access to the networks and capital needed to grow their businesses.
Google launches $2m fund to help bridge funding gap for Black tech founders
The US justice department is set to file the lawsuit against Google today (Getty Images)
The Google for Startups Black Founders fund, worth £1.5m has opened in the UK to address the lack of black talent in tech start-ups, after only 38 black founders received venture capital funding in the last 10 years.
Under the scheme which closes on 21 March, selected European startups in the Google for Startups network will receive $100,000 in non-dilutive cash awards and up to $220,000 per startup in Google Ad Grants.
To be eligible, tech startups need to have one or more founders that self-identify as Black and the startup must already have a product in the market.