Global tech giant Google has launched an AI-first accelerator for African startups to help them properly leverage the technology for solving local problems. The equity-free program is slated to last 10 weeks. It is open to African-based early-stage startups up to the Series A phase and those pioneering African-centered solutions using AI and machine learning (ML) innovations.
It is worth noting that this program underscores the growing relevance of emerging technologies like AI on the continent and beyond. Although it is deemed to be futuristic, many companies are already building tools through AI today. Unsurprisingly, Statista forecasts the AI industry to be worth over $1.8 billion by 2030.
In a press statement seen by Technext, Google says it recognises the impact of AI in the world. It particularly acknowledged how it is “innovating industries and reimagining the realms of possibilities.” The company also stated that the new AI accelerator spotlights the mighty efforts African startups have made in tackling some of the world’s biggest problems through AI.
Google explained that the accelerator was designed to help AI-focused startups in Africa continue their respective missions. Interestingly, the program is heavily influenced by previous minority-centered initiatives like the Google for Startups Accelerator: Africa, The Google for Startups Black Founders Fund, and The Google for Startups Accelerator: Women Founder. It is believed that these influences will help it achieve its mission which is to “support and highlight African-driven solutions.”
The Google for Startups Accelerator: Africa has been a hit since its establishment in 2018. So far, it has backed 106 startups from 17 countries on the continent. Another interesting fact is that the above startups have secured $263+ million in funding, generating over 2,800 direct job openings.
Folarin Aiyegbusi, Head of Startup Ecosystem, commented on the initiative. He said “Africa’s tech landscape is vibrant and ever-evolving. It’s inspiring to see African startups not only harnessing AI to address our unique challenges but also setting benchmarks for the world. ‘AI First’ is more than a program; it’s a testament to our belief in the vision of these startups, ensuring they have the support and guidance they need to realize their full potential.”
As mentioned, African-based startups at various stages of funding up to Series A or those creating solutions for Africa through AI and ML can apply. Aside from participating in a game-changing program, successful startups will enjoy several benefits. These perks include access to years of Google’s AI expertise, access to the Google Cloud Platform (up to $350K worth of Cloud credits) to create solutions, mentorship on business and technical matters from AI experts and entrepreneurs, and networking opportunities. Applications will begin by September 6, 2023.
Read also: Google launches 1st dedicated Startups Accelerator for women founders in Africa
Why Google’s accelerator is important for Africa
Many startups have emerged on the continent with a collective mission to tackle the vast problems in the region. From financial services to healthcare, many Africans are feeling the disruptive power of these solutions.
With AI, the stakes are higher. After all, it is expected to become a multi-billion dollar enterprise in a matter of years. With access to Google’s accelerator and any other opportunities, African-based startups can fine-tune their solutions through AI and ML to improve lives and the economy in this region.
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