New tech startups are emerging all the time across North America, and their founders are innovating for the future and using technology to solve the world’s most complex problems. While the path to success is challenging for most startups, underrepresented founders face disproportionate structural barriers like a lack of access to capital and support networks, in order to get their businesses off the ground.
According to recent reports, in 2022, women-led startups garnered just 2.1% of the total capital invested in venture-backed startups in the United States. For Black-led startups, a survey from the University of Toronto’s Black Founders Network found that only 2% of venture capital funding raised in North America went to Black-led founders in 2022. Additionally, more than 76% of Black Canadian founders surveyed believe their race is a barrier to success.
Google for Startups is committed to leveling the playing field for all founders, and today we’re excited to open applications for our 2023 Google for Startups Accelerator: Women Founders and Google for Startups Accelerator: Black Founders cohorts. We’ll select twelve startups across North America to participate in each program. These virtual accelerator programs are equity-free, three-month intensive bootcamps, giving founders the tools they need to prepare for the next phase of their growth journey.
Participating startups will receive mentorship and technical project support, and workshops focused on product design, customer acquisition, and leadership development. In addition to guidance from leaders and experts across Google product areas, each accelerator offers a cohort of peers building high potential startups who support one another with shared learnings, insights and opportunities.
We hope that these accelerator programs contribute to the ongoing effort in creating a more inclusive and equitable tech startup ecosystem for underrepresented founders. Startups in Canada and the U.S. are encouraged to apply. For the Google for Startup Accelerator: Women Founders program, apply here by July 25 and for Google for Startups Accelerator: Black Founders, apply here by August 2.