5 DIVERSE CHICAGO STARTUPS SELECTED FOR GOOGLE FOR STARTUPS BLACK AND LATINO FOUNDERS FUNDS

 

5 DIVERSE CHICAGO STARTUPS SELECTED FOR GOOGLE FOR STARTUPS BLACK AND LATINO FOUNDERS FUNDS

5 local entrepreneurs awarded a total of $750,000 as part of Google’s effort to support Black and Latino tech entrepreneurs

Chicago -- At a surprise celebration with Googlers, entrepreneurs and Mayor Brandon Johnson, Google announced the Chicago recipients of its annual Google for Startups Black and Latino Founders Funds, which provide promising Black and Latino-led startups non-equity cash awards to help fuel their businesses. The five Chicago-based startups received a total of $750,000 in funding.

“An inclusive investment strategy isn’t just the right thing to do for the people of Chicago, but also leads to greater innovation and a stronger business ecosystem for the City of Chicago,” said Mayor Brandon Johnson. “Investment in these companies diversifies the field of entrepreneurship but also creates more diversity among staff and leadership, which not only makes the ecosystem more inclusive, but brings the equity needed to strengthen the bond between businesses and our communities.”

The goal of the Black and Latino Founders Fund is to increase economic opportunity for the country’s emerging Black and Latino startup founders, who traditionally receive a disproportionately low percentage of investment that is critical for startups to grow. These programs help close the existing opportunity and wealth gap for Black and Latino entrepreneurs by opening the doors to funding, providing training for the digital economy and empowering communities.

“These Black and Latino entrepreneurs are addressing some of today’s most pressing issues and are driving innovation and excellence in the tech sector,” said Kaili Emmrich, Head of North America, Google for Startups. “We are proud to support the diverse pipeline of Chicago’s tech talent, and we look forward to the next chapter for these innovators.”

In addition to the $150,000 in cash funds, recipients will also receive hands-on programming, education and support from Google, deep and ongoing mentorship from technical and business experts, access to free mental health resources, as well as membership into a tight-knit community of fellow founders.

Since the launch of each program, Google has provided over $34 million in cash awards globally to 448 Black and Latino founders, who have continued on to raise over $400 million after Google’s investment.

13 past recipients of the Black and Latino Founders Funds are located in Chicago. According to data from a 2022 report, The Chicago Tech Effect, Chicago’s tech sector sees greater Black and Latino participation than the national average, with 32% of diverse talent participating compared to the nation’s average of 19%.

2023 Black and Latino Founders Funds Recipients

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To learn more, visit Google for Startups.

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