Google is rolling out several new initiatives to support Black-owned businesses, including a new startup accelerator for Black founders. And it features a Chicago upstart among its inaugural cohort.
Chicago's 4Degrees is one of 12 startups named to the first-ever Google for Startups Accelerator for Black Founders. The accelerator is designed for "high potential Seed to Series A tech startups" in the U.S., and founders receive receive support from Google and other business experts on technical challenges, business growth and outside investment opportunities. The program, which focuses on startups that are developing artificial intelligence and machine learning solutions, kicks off next month.
Founded in 2017, 4Degrees is an AI startup working to help people better leverage their professional network. Founded by Ablorde Ashigbi and David Vandegrift, two former investors at Pritzker Group Venture Capital, the startup is building a tool that helps users create better connections and build stronger professional relationships in industries like venture capital, commercial real estate and banking.
In June, 4Degrees raised funding from Harlem Capital, a New York VC firm known for investing in diverse founders. 4Degrees is one of only a handful of Black-led Chicago startups that's raised more than $1 million in total funding, highlighting the issues many local Black founders face while raising capital for their companies.
Google also announced Thursday that it's adding a new tool to Google Search and Google Maps that allows companies in the U.S. to add a Black-owned business attribute to their profile. The goal is to make it easier for customers to find and support Black-owned businesses, Google said. Google is also working with the U.S. Black Chambers to provide training for Black-owned businesses to enhance their presence on Google.
"Today’s updates are a part of our company-wide effort to support Black-owned businesses through products and meaningful partnerships," Jewel Burks, head of Google for Startups, said in a statement. "It’s my hope that this attribute and Google’s tools and training can serve as additional resources for Black-owned businesses and the people who support them."
