Rachael Palmer supports Google’s partnership strategy with venture capitalists and start-ups in Europe, the Middle East and Africa.
Her achievements include the launch of a $ 2 million fund for black founders in Europe and a $ 3 million scheme in Africa, Business Insider reports.
“My role is focused on promoting partnerships with top VCs and startups in the region, but I’m also working on initiatives to improve the ecosystem,” Palmer said. Told to.
Prior to joining Google, she worked for Microsoft and American Express. She spent a lot of time working with small businesses in the latter. As an internal Google consultant, she said, “I was able to quickly get back to work within the startup ecosystem.”
She told the insider.
“For a few days, I’ve been working closely with the founders to understand their business and how to support them, and to discuss opportunities with their in-house product team to get involved in VCs and the startup ecosystem.” She said. “Another day may be spent working with VCs to learn about portfolio companies, how we can partner, and what they are looking for in an investment.”
Palmer shared the top five tips for businesses looking to work with Google.
Keep Google users in mind
For startup founders who want to secure an investment from Google, Palmer’s main tip is to be able to offer something to users of the company.
“I meet many startups that want to incorporate content and products into their search,” she said. “But they often take a step back and can’t think about what’s included for the user and how it enhances the product. For the partnership to work, it’s mutually beneficial for both parties. Must be. “
2. Do your company’s values match Google’s values?
For Palmer, it’s important for her to know what’s in the “company’s DNA.”
“I really care about its value and how closely it fits with Google,” she said. “In the pre-COVID world, we enjoyed visiting offices because we can learn a lot about the company by seeing where and how the office works.”
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3. Think seriously about diversity
“I’m clearly deeply interested in their ability to choose winners, but also in their view of diversity,” Palmer said of choosing a venture capitalist business partner. Said.
4. Think locally and globally
Palmer said he was always impressed with the market development strategies of EMEA-based start-ups.
“They often establish themselves in their home countries, are very localized, build regional partnerships, and navigate the regulatory landscape of different markets to quickly create an enlarged blueprint.”
5. Expect competition
Large companies like Google have a lot of rival founders and venture capitalists who are interested. This year’s Black Founder Initiative is one example.
“In Europe, there were about 800 applications in 18 countries, and in Africa there were about 3,000 applications in 36 countries,” Palmer said.
She explained that it’s important to remember that “what we want from our partners really depends on the type of partnership.”
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