The new group of diverse founders who are utilising technology to tackle some of society’s most pressing issues was welcomed by Lisa Gevelber, vice president of Google for Startups.
The Black Founders Fund and Latino Founders Fund of Google for Startups have been awarded to three Dallas-based entrepreneurs. In order to support the businesses of promising startups run by Black and Latino entrepreneurs, the funds offer non-equity cash awards.
With a total investment of $900,000 in Texas startups, six of the 46 American recipients are from Texas.
The new group of diverse founders who are utilising technology to tackle some of society’s most pressing issues was welcomed by Lisa Gevelber, vice president of Google for Startups.
According to Lisa Gevelber, VP of Google for Startups, “we launched our first Google for Startups Black Founders Fund in 2020 to help Black tech entrepreneurs overcome the disproportionate challenges they encounter when raising capital.”
The entrepreneurs will receive monetary awards totaling $150,000 as well as practical assistance to help them establish and grow their businesses in the U.S.
In addition to the non-dilutive capital and up to $100,000 in Google Cloud credits, recipients also get mentorship from “Googlers,” as well as free access to community services and resources like sales training and investor preparation.
The selected Dallas-based startups
Buzzbassador
A significant turning point in the company’s growth trajectory has been reached with the inclusion of Buzzbassador, a platform for content creators for DTC and retail brands, in the Black Founders Fund of Google for Startups.
Calvin Waddy, CEO and co-founder, thinks that Google’s investment in Buzzbassador is a testament to their efforts and commitment to their goal. With access to Google’s global network and cutting-edge technologies, the partnership could spur growth and enable previously unheard-of innovation in the cutthroat market.
Roboamp
The goal of Dallas-based Roboamp is to speed up mobile site loading times by cutting them to one second or less. Long loading times can harm businesses, potentially leading to annual revenue losses of millions of dollars.
Websites that take longer than three seconds to load may lose up to 60% of potential customers, according to Roberto Inetti, CEO of Roboamp. The startup’s customers’ web performance has increased by an average of up to 500%.
Inetti, a Uruguayan software developer with experience in both hardware and software development, founded the business in 2017. He has overseen the technical development of many different products, including software for real estate transactions and Flash-based video games.
With a team of five, Inetti anticipates using the Google grant to scale. He was recently accepted into ACT Tulsa and chosen to take part in the Techstars 2022 Austin cohort. Inetti attributes his success to the long hours of development work, numerous pitches, and rejections.
Stemuli
A double merger with the LA-based Infinity.careers and Oppti has been announced by the Dallas-based edtech company Stemuli. The merger aims to give students the resources they need to succeed in the economy of the twenty-first century.
Taylor Shead, co-founder and CEO of Stemuli, praised the community and collaboration, saying that Stemuli’s goal of revolutionising the educational landscape will be furthered by joining the Google for Startups Black Founders Fund community. Dallas Innovates named Shead one of the 2023 Future 50 disrupters earlier this year.
Other selected Texas startups
Three other startups in Texas were selected for the Google for Startups funds.
Houston-based That’s Clutch elevates emerging brands’ digital marketing presence by connecting them to next-generation creators.
Austin-based Omaiven is workflow automation for clinic operations.
San Antonio-based DataScope leverages mobile technology to revolutionize data collection and deliver valuable insights in real time to any industry.
Google support to entrepreneurs
To date, 547 entrepreneurs have received $45M in cash awards through the programme.
According to Gevelber, Google has “significantly” increased the reach of its Black Founders Fund to Latino founders in the United States, Europe, Africa, and Brazil over the past three years.
The company claimed that its funds had a “catalytic effect” on founders’ ability to raise additional funding. Past recipients have raised more than $400 million in investment since being chosen, and they’ve used the money to expand their businesses, hire more people, and increase their revenue.