A £3 million cash fund for black founder-led tech businesses has been announced by Google. The Black Founders Fund, running for its second year, will be awarded to innovative European tech startups run by black founders. Recipients will need to demonstrate how they’re using technology to solve everyday problems. In return, they will receive up to $100,000, plus $200,000 in credit to use towards Google’s cloud services and advertising support, and mentoring by industry experts. “The UK is one of the most start-up-friendly environments in the world. Yet, Black start-up founders
According to The Big Deal, less than 1% of all VC dollars went toward startups with one or more women founders last year, details investments in Africa. However, on a more positive note – depending on how you look at it, founding teams counting women and men as members raised 17% of VC investments in Africa in 2021. But the lack of investment in women-founded startups isn’t new. If we took a look back almost a decade ago – according to Briter Bridges, another publication that tracks VC investments in
Social media giant Meta Platforms, Inc., formerly known as Facebook, Inc., faces prosecution in South Africa for unfairly trying to block local startups from using its WhatsApp Business Application Programming Interface (API), a government agency said Monday. It comes after the country’s competition regulator, the Competition Commission, said in a statement that it has referred Meta Platforms and its subsidiaries WhatsApp Inc and Facebook South Africa to the Competition Tribunal for prosecution for abusing its market dominance. According to Anadolu Agency, the commission alleges that Facebook in July 2020 threatened to
Level Ex is hiring on pocitjobs.com Todday Gaither has been working at Level Ex for 5 years—first as a Quality Assurance Tester and now as an Assistant Production Manager. The company focuses on creating video games for doctors that capture the challenges of practicing medicine: from puzzling diagnoses to rare surgical complications. Todday thanks his grandmother for pushing him to move to Chicago to pursue a career in technology. In this article, he tells us how he got into tech as an eager child who spent most of his time
Last week, Yep!, a “financial super app” with payments, remittance, and banking features, announced that it has raised $1.5 million in a pre-seed round led by pan-African VC Greenhouse Capital. The San Francisco- and Lagos-headquartered startup was started by Olaoluwa Awojoodu, who then teamed up with Airende Ojeomogha and Garry Ottosen to start Yep!. The startup plans to go live across the five markets where E-Settlement is present, serving digital financial services to consumers, small business owners, and merchants. They also have a mission to enhance financial inclusion by leveraging PayCentre Africa — the startup’s agent banking platform, to
Kanye West has added ‘social media guru’ named Jason Lee, the founder-CEO of Hollywood Unlocked, to his team under the title of head of media and partnerships. It comes after Lee had a bit of a controversial moment this year when Hollywood Unlocked went with a false report that Queen Elizabeth II had died of Covid-19, a story he initially defended as well-sourced before having to back down after it was clear that she was in fact alive. The official announcement of Lee’s hiring says that “as Ye builds out
Only a small percentage of Black founders in the UK received VC funding between 2009 to 2019 — and none so far have received late-stage funding. But 2021 proved to be fruitful, with initiatives like Google’s Black founders’ – and others – awarding Black and minority startup founders for their innovations. One such founder, who received backing, is Erika Brodnock, the cofounder of Kami, a parental support platform that gives parents access to expert advice via a mobile app. The startup received a $67k grant from the BFF in June
Curacel, the YC-backed startup developing insurance infrastructure for the African market, has launched a new interface that allows digital businesses like those in retail, fintech, e-commerce, and logistics to add insurance to their core products. Dubbed Curacel Grow – the new product is an embedded insurance product that empowers technology companies to seamlessly offer insurance as part of their existing products and services. The Nigerian insurtech startup is launching Grow to support insurance distribution to millions of Africans through partners like Barter by Flutterwave, Float, Payhippo, and other leading technology companies. Insurance
Google, working with historians from West Africa, has worked to digitize contemporary art, cultural and historic sites about Mali, and the digital library went live on Google Art & Culture (GAC) earlier this week, making these items available for exploration by the world. The library is available online and via Google and Apple stores apps. Launched in 2011 as a digital platform that collects the treasures, stories, and knowledge of over 2,000 cultural institutions from 80 countries, Google Arts & Culture has been documenting museums and heritage sites from across the world.
Less than 1% of investment went to teams of Black entrepreneurs, according to the Extend Ventures report which also noted that across the 10-year period “a total of 10 female entrepreneurs of Black appearance received venture capital investment (0.02% of the total amount invested)… with none so far receiving late-stage funding”. Despite these odds, young Black women founders in the UK are helming businesses and driving innovation in areas as diverse as beauty, e-comm, and real estate, and total a total of 16 Black women have raised funding. Both inside
