Page 43 - EngineerIT March 2022

INDUSTRY, TECHNOLOGY, PRODUCTS AND INNOVATION

Google backs SA’s economic recovery with $1 billion

t a virtual ‘’Google for South Africa’’ event, Google locally and across the continent to join the programme.
unpacked its support for start-ups, SMMEs and non-profits The start-ups will receive $50 million in funding to help spur
Ain a bid to accelerate digital transformation and help South their growth as part of a broader Africa investment fund plan
Africa’s economy recover. This follows announcements made at launched last year. Carry1st in South Africa is one such start-up that
the virtual ‘’Google for Africa’’ event in October last year where has already received equity investments. Google is part of a group
Google and Alphabet CEO Sundar Pichai, announced Google’s of investors in the business, one of Africa’s leading mobile games
plan to invest $1 billion over five years to support Africa’s digital publishers. Carry1st will use the additional capital to expand its
transformation. The focus of these investments is on enabling content portfolio, grow its product, engineering, and growth teams
fast, affordable internet access for more Africans, building helpful and acquire new users.
products supporting entrepreneurship and small business; and Another investment priority for Google is the SMME sector,
helping non-profits to improve lives across Africa. which forms the backbone of South Africa’s economy and is key to
job creation. In partnership with the Department of Small Business
Helping non-profits thrive Development, Google wants to provide support, training and resources
Non-profits have been deeply impacted by the pandemic and the to these small enterprises through the newly launched ‘Hustle
work done by these organisations to serve communities has been Academy’ (g.co/hustleacademy) a sub-Saharan African initiative aimed
vital in helping South Africans over the past two years. That’s why at supporting SMMEs and helping their businesses thrive.
Google.org is awarding $500k in grant funding and training to Gift In the coming months, Google, in collaboration with Kiva and
of the Givers and Food for Life South Africa to support them in a local financial services provider, will be disbursing $3 million
their economic recovery. in loans to qualifying small businesses in South Africa, unlocking
“To date, 22 South African non-profit organisations have further growth opportunities for SMMEs.
tapped into $6.5 million in Google.org grants to bolster their work
supporting under-served black youth, SMMEs and women with Fast-tracking digital transformation
skills and knowledge to improve their livelihoods,” said Dr Alistair During last year’s ‘’Google for Africa’’ event, Google highlighted
Mokoena, country director, Google South Africa. Equiano, the sub-sea cable investment, to run through South
Africa, Namibia, Nigeria and St Helena, and connect the continent
Investing in next-generation entrepreneurs with Europe. The cable, which is scheduled to land in South Africa
Start-ups in South Africa have the potential to unlock a myriad of later in the year, will almost triple internet speeds in South Africa
job opportunities for South Africans through innovative thinking and Namibia by 2025 and reduce connectivity costs — a boost that
and products that seek to solve some of the country’s most is predicted to create 180,000 jobs in South Africa between 2022
pressing needs. Through a rigorous and competitive selection and 2025, according to Google-commissioned research.
process, the Google for Start-Ups Black Founders Fund in Africa “We are here for the long term, and our investments and
Programme has selected 50 top black-led technology start-ups programmes are geared to support this”, Mokoena said.

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