Google to Disperse US$945K for Black Business Fund in Brazil

Brazil Black Lives Matter
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[Google\Brazil Business Fund]
Google wants to address through its newly-launched Black Founders Fund in Brazil. This fund has R$5 million (~US$945,000) to disperse among early-stage tech startups operating in Brazil and with Black founders at their helm.
Photo: Twitter

The Black Lives Matter movement can be felt throughout Latin America but nowhere more so in Brazil.

In a country where nearly 57 percent of the population (~119 million people) consider themselves “Black” or “dark-skinned”, it’s easy to understand why.

And even the entrepreneurial sphere isn’t exempt from discrimination.

Correspondingly, it’s an issue tech titan Google wants to address through its newly-launched Black Founders Fund in Brazil. This fund has R$5 million (~US$945,000) to disperse among early-stage tech startups operating in Brazil and with Black founders at their helm.

The program wants to finance around 30 companies looking for seed investments.

Evidently, the overlying goal is to help entrepreneurs grow their businesses and build a more diverse and robust ecosystem.

As protests and awareness campaigns across Brazil unfold, the entrepreneurial community is also coming to terms with racial biases and the importance of promoting Black founders.

Research by the Locomotiva Institute shows that 57 percent of Brazil’s Black population believe Black people suffer prejudice when trying to open their own business.

Read rest of story here: https://contxto.com/en/brazil/google-black-founders-fund-brazil/

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