Today, we announced a partnership with Google For Startups to facilitate $5 million in cash awards for 76 promising black-led tech startups across the United States.
“Goodie Nation is honored to work with Google to advance opportunities for Black founders through this program,” said Joey Womack, founder and CEO of Goodie Nation. “Today, less than one percent of Black-founded startups receive venture capital. The Google for Startups initiative significantly increases our ability and scale to help diverse founders get access to capital, mentoring, and a community of support while they attempt to solve some of the world’s toughest problems.”
Each founder will receive between $50,000 and $100,000 of non-dilutive funding to accelerate their business, along with support from both Google and Goodie Nation. The 76 fund recipients awarded to date were selected from Google for Startups’ programs like Atlanta Founders Academy and Black Founders Exchange, as well as through nominations by Google for Startups partners across the U.S.
Goodie Nation will provide support for the founders through warm intros and strategic advice from our expert network, weekly accountability group and partner sessions, Founders’ Therapy mental health sessions, and professional development.
“The Google for Startups Black Founders Fund supports the most promising Black founders across the U.S. In addition to non-dilutive capital, recipients of the fund will receive wrap-around support in the form of network connections, high-value content, and marketing opportunities to help them advance their companies,” said Jewel Burks Solomon, head of Google for Startups Black Founders Fund. “To accomplish this, we’ve teamed up Goodie Nation, whose robust founder offerings make them the ideal organization to partner with in our joint mission to champion the Black founder community.”
Pairing social capital with non-dilutive financial capital presents a strong opportunity for success, and this could be an inflection point for black entrepreneurship in the U.S. We see this as a start of a movement where other companies provide non-dilutive cash awards to black entrepreneurs as a way to help fill the family & friends and angel investment gap.
This partnership with Google For Startups brings our founder count to 150+ across four divisions, and significantly helps us drive our mission to create a better and more sustainable future for us all through entrepreneurship.
This brings our founder count to 150+ across four divisions. This is tech done right.