Google launches USD4 million fund for Black-led tech startups in Europe

Google on Wednesday announced the launch of a second round of investments in the Google for Startups Black Founders Fund in Europe, a $4 million fund for Black-led tech startups in the region.

Black-led startups with a live product in the market and early traction can apply for the latest Black Founders Fund starting today. The deadline for submitting applications is April 17th.

Founders will receive up to $100K in equity-free cash, up to an additional $200K in Cloud Credits, and access to the best of Google - people, products, and best practices.

Last year, 30 startups were selected for the first $2 million Google for Startups Black Founders Fund. Since receiving capital from Google, these startups have gone on to raise more than $63 million collectively in follow on funding, hired more staff and 81% of the recipients reported a positive impact on their Monthly Recurring Revenue.

"Black founders have long been playing a key role in Europe's economy by solving challenges with agility, resilience and innovative technology. But we've known for a long time that Black founders do not have the same opportunities and support as many others," Google said.

With double the funding from our inaugural fund, Google aims to help even more startups succeed this year.