2024 cohort is announced by Google for Startups Africa
- Business
- November 19, 2024
The six companies chosen for Google’s 2024 Google for Startups Accelerator Africa program have been revealed. To enable these entrepreneurs to have an influence on Africa’s digital economy, the program provides mentorship, equity-free support (about USD 50,000), and access to Google’s vast resources (USD 200,000 in Google Cloud credits). An online streetwear marketplace that connects emerging fashion brands with customers while streamlining orders and deliveries, an e-commerce and fintech platform that connects informal township businesses with online and offline customers, Wisi-Oi, a video-driven fashion resale platform that facilitates the buying and selling of pre-owned clothing, Breaze Delivery, a real-time delivery platform that links businesses to a network of drivers for efficient logistics, and Mapha Logistics, a digital tool for township, peri-urban, and rural merchants that connects buyers and sellers with an emphasis on accessibility and product diversity.
In order to scale operations and spur innovation, participants get access to Google’s vast network, resources, and industry mentorship. This statement comes after the Black Founders Fund (BFF) 2023 was a success, giving each of its 25 African firms USD 200,000 in Google Cloud credits and USD 150,000 in non-dilutive cash capital. The accelerator wants to keep encouraging revolutionary development in the ICT sector in Africa.
Since its introduction in 2018, the Google for firms Accelerator Africa program has given substantial support to more than 106 firms from 17 African nations. Together, previous participants have raised $263 million in funding and created more than 2,800 jobs throughout the continent. Selected startups are positioned for industry growth and influence by gaining access to Google’s vast network. Notably, the initiative concentrates on firms that leverage AI and other cutting-edge technology to tackle systemic issues in African markets, like access to healthcare, financial inclusion, and education.
Supporting tech startups in Africa
The 2024 startups are well-positioned to significantly impact their sectors as well as the overall economy by fostering technical growth, talent development, and job creation. Google’s ongoing support of African companies serves as a growth engine and evidence of the continent’s capacity to impact the global digital scene with indigenous inventions.
Google’s accelerator program is a vital starting point in a market where venture capital can be difficult to obtain, particularly in the beginning. African entrepreneurs are given a strong platform to grow creative ideas that tackle some of the continent’s most urgent problems thanks to the program’s distinctive combination of resources, knowledge, and extensive network. Up to R1 million (more than $50,000) in non-dilutive capital and up to R3.6 million ($200,000) in Google Cloud credits are to be given to six South African tech start-ups.
According to Folarin Aiyegbusi, Head of Startup Ecosystem for Africa at Google, the initiative is a component of Google’s dedication to fostering and facilitating the South African startup scene. “Google will also be offering one-on-one training and networking with mentors to address the unique challenges faced by each business, in addition to the funding and credits they will receive,” Aiyegbusi stated. According to Aiyegbusi, the start-ups are part of an increasing number of African companies that are actively attempting to meet the socioeconomic requirements of their communities.
“It’s encouraging to see the positive move toward enabling more start-ups within the tech ecosystem, which will ultimately drive inclusion and accessibility for communities across South Africa and the continent at large, as well as foster digital transformation,” he continued. Former Accelerator and Google Black Founders Fund start-ups from Africa, Europe, Brazil, and the US have received over $30 million in funding to grow their businesses, and this current cohort joins them.