Google is set to invest in African startups leveraging artificial intelligence (AI) and machine learning (ML) through its Startups Accelerator Africa program.
According to a statement from the company, this cohort will have a strong focus on startups leveraging artificial intelligence (AI) and machine learning (ML) to address critical challenges and unlock new opportunities across the continent.
Google in the statement noted that startups are the lifeblood of innovation, driving economic growth, creating jobs, and solving some of society’s most pressing challenges.
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“In Africa, digital transformation is accelerating rapidly, and startups play a vital role in shaping the continent’s future. from fintech and agritech to healthcare and education,” it added.
The initiative which is in its eighth cohort also seeks to provide financial support to emerging companies that tackle pressing issues and open up new possibilities through the use of AI in Africa.
The three-month equity-free virtual program provides African startups with mentorship, technical resources, and access to a global network of experts and investors.
“We’re excited to support the next generation of African AI pioneers through the Google for Startups Accelerator, providing them with the resources and mentorship they need to build successful, impactful businesses,” said Folarin Aiyegbusi, Head of Startups Ecosystem, Africa at Google.
“Africa’s tech ecosystem is a hotbed of innovation, and AI has the potential to be a transformative force across various sectors.”
While highlighting that applications are open from April 29 to May 20, 2024, Google said startups stood to benefit from up to $350,000 in cloud credits, among other things. It stressed that eligible startups must be based in Africa or building Africa-centric solutions and should be utilizing AI/ML.
According to Google, the chosen startups will participate in accelerator sessions running from June to September 2024. These startups will receive a $350,000 allocation in Google Cloud Credits without giving up any equity.
Other benefits for startups, according to Google, include personalized guidance from Google AI experts, seasoned entrepreneurs, and industry leaders; in-depth training on AI/ML development, product strategy, and scaling; connections to potential investors, partners, and customers; and a supportive network of fellow founders facing similar challenges and opportunities.
Commenting on the program, Head of Startups Ecosystem, Africa at Google, Folarin Aiyegbusi, said:
“We’re excited to support the next generation of African AI pioneers through the Google for Startups Accelerator, providing them with the resources and mentorship they need to build successful, impactful businesses. Africa’s tech ecosystem is a hotbed of innovation, and AI has the potential to be a transformative force across various sectors.”
About the Google for Startups Accelerator Africa
The Google for Startups Accelerator Africa is a virtual program lasting three months, which is free of equity and offers mentorship, technical resources, and connections to a worldwide network of experts and investors in African startups. Since its establishment in 2018, Google stated that the program has assisted 106 startups from 17 African nations, which have together secured over $263 million in funding and generated more than 2,800 direct employment opportunities.
In the 2023 edition, three Nigerian startups were among the 11 selected across Africa. These included Famasi Africa, a startup that is building the OS for pharmacies in emerging markets; Izifin, a Nigerian company providing an end-to-end credit infrastructure via API for small businesses; and Vzy, which is revolutionizing website building with AI-driven tools that craft sites in mere minutes.
For 2024, Google said applications are open from April 29 to May 20, 2024, and can be submitted online via g.co/AcceleratorAfrica.
Eligible startups must be based in Africa or building Africa-centric solutions and should be utilizing AI/ML in a transformative way.
When Will The 2024 Class Start?
The Class 8 program will run from June to September 2024 and will include:
Equity-free support: Up to $350,000 in Google Cloud credits.
Mentorship: Personalised guidance from Google AI experts, seasoned entrepreneurs, and industry leaders.
Technical workshops: In-depth training on AI/ML development, product strategy, and scaling.
Global network: Connections to potential investors, partners, and customers.
Community: A supportive network of fellow founders facing similar challenges and opportunities.
