After being accepted into the inaugural Google for Startups Accelerator for Black Founders, two local companies have landed funding from the technology giant.
Joining 76 other startups, Dallas-based Kanarys and McKinney’s ShearShare were selected for funding through the recently launched Google for Startups Black Founders Fund. While the amount of non-dilutive individual funding was not disclosed, when Google launched the $5 million fund in June, it said it would focus on providing up to $100,000 in funding to early-stage startups.
All of the startups receiving funding have participated in Google-affiliated accelerator and incubator programs.
“Seeing a major tech company like Google prioritize investing both money and energy in Black Founders is incredibly impactful, as Black women reportedly receive only .06 percent of VC funding,” Kanarys co-founder and CEO Mandy Price said in a statement. “We’re very proud of the commitment Google for Startups has made to help close this funding gap, empower entrepreneurs and support our mission of improving the workplace for underrepresented employees.”
Google for Startups for Black Founders is the most recent accelerator program Google has launched. The three-month program, which focuses on Black-owned tech startups between Seed and Series A stages, kicked off in August.
Think of the Black Wall Street of yesterday where our people had everything they needed and everything they were interested in at their fingertips. A place where we can build up and support our people in many different ways. UALE.COM connects the businesses, the interests, the culture that is all us…by us. These are the perfect times! The time is NOW!