FundBlackFounders was selected as a GOOGLE FOR STARTUPS BLACK FOUNDERS FUND RECIPIENT. Google for Startups announced FundBlackFounders as one of the 50 Black Startup Selected to receive $100k + resources today online. Details about the award can be found on the company website at https://blog.google/outreach-initiatives/entrepreneurs/black-founders-fund/.
Last year, Google for Startups gave 76 Black-led startups up to $100,000 in non-dilutive funding, helping them keep their doors open, pay their employees, and focus on building their businesses. With this second $5 million investment in the U.S. Black Founders Fund, 50 more founders across the United States will receive $100,000 in non-dilutive capital, meaning founders do not give up any ownership in their company in exchange for funding. The fund also includes technical support from tools and teams across Google, including as much as $120,000 in donated search Ads from Google.org and up to $100,000 in Google Cloud credits. Last year, founders who received awards went on to raise more than $50M in capital and 80% of recipients used the funding to create jobs.
Potential award recipients were required to be nominated or have participated in a previous Google program, in order to be in contention for the GOOGLE FOR STARTUPS BLACK FOUNDERS FUND. Renee King, Founder & CEO of FundBlackFounders was honored by the selection, saying:
“It means a lot to be recognized by Google when there are so many Founders out there trying to make an impact in the world through technology. Our team is incredibly humbled and excited to be a 2021 Google for Startups Black Founders Fund recipient. Having Google believe in our vision and helping us build a strong company to ally with them in making the world a better place is so motivating. We built FundBlackFounders.com because we believe that by ensuring Black entrepreneurs have access to capital, they can have a louder voice and a better shot at making it. It is reassuring to know Google is with us and Black Founders on this journey.” – Renee King, CEO & Founder of fundBlackfounders”
“The Google for Startups Black Founders Fund embodies our mission of helping underrepresented founders grow their businesses. We are excited to continue the fund and contribute funding to Black founders, with no strings attached. Black founders currently receive less than 1 percent of total VC funding,” says Jewel Burks Solomon, Head of Google for Startups US. “We heard loud and clear from the 2020 fund recipients that Google for Startups and Goodie Nation have been crucial to their success not only through funding, but through community, mentorship, network connections and technical expertise.”
“Our advisors will be working with the founders to discuss business pain points, offer introductions to customers and investors and provide regular therapy sessions and forums to support recipients emotionally and professionally,” says Joey Womack, CEO of Goodie Nation.
ABOUT GOOGLE FOR STARTUPS
Google for Startups works to level the playing field for startup founders and communities to succeed by bringing the best of Google’s products, connections, and best practices to startups. Paired with a deep commitment to create diverse startup communities, many of our offerings are designed specifically to provide underrepresented founders with access to resources and opportunities. We support startups everywhere to build something better. Because when startups succeed, we all succeed.
Persons interested in learning more about FundBlackFounders and the award can visit the website at https://blog.google/outreach-initiatives/entrepreneurs/black-founders-fund/.
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