Three Google-funded Black Tech executives and entrepreneurs join Black’s business advocates and news publishers to discuss the economic impact and investment of their venture, the coronavirus pandemic, at a recent online symposium. I did.
The roundtable was hosted by California Black Media and moderated by Regina Brown Wilson, a non-profit executive director.
One of the notable speakers was Salena Pryor, Chairman of the Black Small Business Association.
Mr. Pryor said he set up an organization to help black business owners raise money early in the coronavirus pandemic. She saw many black-owned companies missing out on funding and government support, inspiring her idea of creating an organization when she was fired during a shutdown.
According to Pryor, black companies are struggling during Covid. She said that about 41% of African-American-owned businesses closed nationwide during the pandemic.
What do we need to do to regain these black businesses? She said.
In working with a black entrepreneur, she often keeps accurate records and emphasizes that it is important to pay taxes. It becomes even more important when applying for a business loan.
She said she was trying to help people get legal and get those money. You need to have your paperwork in turn.
Reina Davis, Google’s government policy and public relations, was another notable speaker at the symposium.
She talked about Google’s Black Founders Fund, which was created to bring more equity to the world of venture funding. One of the most common complaints from Blacktech entrepreneurs is funding issues. According to a Fast Company article, black startup entrepreneurs received only 1.2% of the $ 147 billion invested in American startups in early 2021.
In 2020, Google provided a $ 100,000 grant to 76 startups, Davis said. After that, Google decided to increase its funding to $ 5 million.
According to Google, selected founders will receive up to $ 100,000 in capital, along with Google Cloud credits, Google.org Ads grants, and hands-on support to help startups grow.
The conference was attended by three CEOs funded by Google through the Black Founders Fund.
One of them, AfriBlocks, is a Pasadena company that connects Africa-based IT workers with companies seeking to procure services in the United States. The company works with IT specialists in seven African countries.
Many African countries have rapidly urbanizing societies, and young people are tech-savvy and online. Most of the technicians have an undeveloped pool.
Roger Roman, co-founder of AfriBlocks, didn’t know how talented Africa was. There are many talents on the continent.
Another recipient is Nedl, a social audio digital platform that allows you to host live group conversations and your own talk shows online.
Nedl CEO Ayinde Alakoye said the company plans to roll out a new service early next year that will allow people to monetize their words.
According to Alakoye, Nedl is the only black company to participate in another Google mentoring program for entrepreneurs and is the Startups Accelerator of the VoiceAI initiative.
The third Google-funded company was The CLLC TIVE, a company that connects creators with new projects.
According to Kelsey Davis, co-founder of TheCLLC TIVE, the company is the fastest and easiest way to create a portfolio online. The company also connects creative people with brands that want to take advantage of their services, she said.
Wilson congratulated the entrepreneur and thanked him for participating in the discussion.
She said you were innovators, unicorns. The work you do and the movements you do as a young black man are very important, very innovative and very exciting.
For more information on the program and other recipients, please visit the Google Black Founders Fund website.
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