As our CEO Sundar Pichai announced today, Google will invest $175 million toward economic opportunity for Black business owners, startup founders, job seekers and developers. A part of this initiative is the inaugural Google for Startups Accelerator in the U.S: a virtual three-month program for Black founders from across the country.
During the accelerator, startups will be paired with Google experts to identify and solve their most pressing technical challenges, everything from implementing machine learning to developing mobile apps to improving user experience design. Founders will also participate in workshops focused on fundraising, hiring and sales. Interested startups can apply through June 30th and the accelerator will kick off in August. This will be the first in a series of Google for Startups Accelerators focused on underrepresented founders.
Along with the accelerator, we're creating a $5 million Google for Startups Black Founders Fund. This fund will provide cash awards up to $100,000 to selected startups from our U.S. programs and partner communities. These cash awards will go to startups with Black founders, who have been deeply impacted by COVID-19 and who are disproportionately locked out of access to capital.
These efforts are a part of our longstanding and growing commitment to support the Black startup community through partnerships with organizations like Founder Gym, Backstage Capital, and American Underground which are working to close the funding gap and empower Black entrepreneurs. This year, we’ve focused our efforts in Atlanta, forging new partnerships with the Russell Center for Innovation and Entrepreneurship and Collab Studio, and creating the Google for Startups Founders Academy.
Though we see this as a step forward, we know there is much more work to be done to level the playing field for founders. If you or someone you know would be a great fit for the Google for Startups Accelerator, encourage them to apply by June 30th.