Excerpt from Google’s blog The Keyword:
As part of a series of racial equity commitments made in June, we announced the Google for Startups Black Founders Fund, a $5 million initiative to provide cash awards up to $100,000 to Black led startups in the US. These awards are non-dilutive, meaning that unlike most investments, founders are not giving up any ownership in their company in exchange for funding.
Today, we’re announcing the 76 inspiring founders who have been selected to receive awards from the Black Founders Fund. They’re building incredible startups solving tough problems such as helping Americans get out of debt, ensuring that towns have access to clean drinking water and making our healthcare system more accessible. We interviewed every recipient and asked them the same question: What happens when you fund Black founders? And despite varied backgrounds, missions and motivations, when we asked that question, we saw some clear themes emerge in their answers.
— Jewel Burks Solomon