The tech company Google introduced the Google for Startups Black Founders Fund back in 2020. It was targeted at helping Black tech entrepreneurs. The basic purpose of the funding program was to help the entrepreneur’s community in conquering the disparate hurdles they face while generating capital. Reportedly, the recipients were able to raise millions in successive follow-on funding.
Surprisingly, the funding by Google helped them secure additional investments from various sources. Given the success rate of the initial program, the tech company decided to extend the program to other regions as well. It was later extended to Brazil, Europe, and Africa. Followed by this, in 2022, the company introduced the first Latino Founders Fund in the U.S.
The company details that since the initial launch it has provided $34 million in form of cash awards to around 448 Black and Latino founders. Resultantly, they have generated over $400 million followed by the initial investment by Google. Well, this is not just the funding, the entrepreneurs are provided with mentorship and training from Googlers as well.
Starting today, the applications are now open for the fresh intake of the Black Founders Fund. The applications will be accepted from in Africa, Brazil, Europe, and the U.S. Furthermore, the applications are also open for the Latino Founders Fund in the U.S.
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