Yahoo Finance Google for Startups deploys $4M of grant funding to 40 Black-led startups across Europe
In an effort to kick-start a greater number of Black tech founders in Europe, last year Google for Startups launched a $2 million (£1.5 million) grant fund to help tackle the quite obvious and stark racial inequality in the European tech industry. That fund ended up doubling to $4 million (£3 million) and now 40 Black-led tech starups across Europe will receive grants from the fund.
Each startup will be given $100,000 in non-dilutive cash awards, up to $200,000 in cloud credits and ad support, mentoring by industry execs and connections inside Google’s network.
Prior to the fund’s launch in 2021, less than 0.25% of venture capital (VC) funding went to Black-led startups in the U.K.
British tech startups will make up two-thirds of the 40 companies selected across Europe, and are spread across beauty, fashion, education, construction and food/beverage.
Marta Krupinska, Head of Google for Startups UK: “For the second year in a row we've been able to debunk the myth of the 'pipeline problem'. Europe is home to a wealth of talent from underrepresented backgrounds – we're so excited to have doubled last year's fund and partner with 40 fantastic companies, of which two-thirds are based in the UK, and one third is led by women.”
The full list is below (with the descriptions supplied by the startups themselves):
