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Start-Ups registered under Google’s Launchpad Accelerator raise $9m

Earlier in the week, popular search engine, Google, announced that in a bit to scale business operations, the start-ups that took part in its third Launchpad Accelerator Africa went on to raise $9m.

As per reports, every start-up that participated in the accelerator initiative shared their testimonies at their graduation held in Lagos, wherein they revealed that they managed to increase their customer base to an incredible extent thanks to the mentorship and training received during the accelerator initiative.

As per reports, this initiative was launched by Google, as part of its ongoing efforts to motivate and build more entrepreneurship opportunities in the African continent.

Significantly, the start-ups which participated in the accelerator initiative comprised of 58 percent of female co-founders from six African countries Uganda, Senegal, South Africa, Nigeria, Kenya, and  Egypt.

In a statement, Google said that all teams which went on to graduate to class three have begun utilizing Artifical Intelligence Technology in their business operations as they received training in machine learning technologies.

According to Fola Olatunji-David,  Head of Start-up Success and Services, Launchpad Accelerator Africa, said, “We have made significant progress towards our mission of creating Google technology powered AI-first start-ups. The start-ups that graduated to class three have gone on to create well over 120 jobs, as they raised nearly $9m in funding also they managed to increase the user base for their products and services to nearly 270,000 users.”

Olatunji-David further added, “ We launched thus accelerator initiative with the goal of providing startups with the best possible chance of achieving incredible growth, we are well aware of the entrepreneurial potential that Africa possesses, and for that potential to be realized into job creation, start-ups need resources to grow. Not to mention, that the growth of entrepreneurship is critical for the development of the continent.”

 

About the author

Mike Cherney

Mike graduated in economics and finance for Melbourne University and moved to Sydney to work for a news publication as a finance and stock market writer. He landed a job at the Wall Street Journal at the age of 25 where he worked for 2 years. Like most of the young Australians, he loves surfing and fishing on the weekends. Mike overlooks all Business and Finance-related articles.

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