Daniel Mukisa started Ridelink in 2017 with one simple mission: to become an online DHL but focused on small businesses. In this mission, he wanted to “turbo-charge cargo delivery for small businesses at unbeatable prices.” Six years later, on the second try, his startup has now been accepted into the Google for Startups Black Founders Fund.
The Google Black Founders Fund is one of Africa’s premier equity-free programs. Google launched the program in a bid to tackle the inequality in venture capital funding and it is entering its third year of supporting Black founders. This year, the chosen startups will receive up to $150,000 in non-dilute cash awards, $200,000 in Google Cloud credits, Google Ads support, and invaluable one-on-one mentoring from both Googlers and industry experts.
From sectors such as healthcare, and agriculture, to fintech, startups are harnessing the power of technology to tackle Africa`s challenges while simultaneously capitalizing on its vast market potential. Black founders’ success benefits all stakeholders. The program’s impressive track record speaks volumes. Since the start of 2021, participating founders have seen a significant 21% increase in employment, with women accounting for 46% of these new positions. Monthly current income also increased by 7% and now exceeds $6.1 million.
Daniel will not be the only Ugandan founder to benefit from the program. He will be joined by Goerge William Luyinda of EazyAgric. EazyAgric, founded eight years ago, is an ag-tech company revolutionizing agriculture in Uganda and Africa. We provide complete solutions to farmers and agribusinesses, including access to genuine agro-inputs, credit financing, e-Extension and advisory services, and market linkages.
Both founders found the application process, which started in March, demanding. “They had about 3,700 applications before doing the screening. They sent follow-up questions and two rounds of interviews.” Daniel tells me. George William provides additional context, “The process involved submitting various essential due diligence documents to Google. Additionally, we needed to make a pitch video outlining how the Black Founders’ Fund could help EzyAgric’s vision of scaling across Africa.’
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But apart from the obvious benefits like the equity-free investment and $200k worth of Google Credits, both founders are looking forward to the network that Google can provide. “Any founder would like to be backed by one of the biggest technology companies in the world. It is not just the validation it gives you, but the doors that it opens up for you and the different mentors that you can get access to that can help you in raising follow-on funding and building a world-class product. Getting into the program de-risks our startup to some extent.”
The program will be back next year, and we hope more Ugandan startups will be able to get into the program. George William offers a piece of advice on how this can happen. “Founders should be able to tell their story of how their technology products can make a difference in the local society. Also, it is important to prepare well in advance by researching and benchmarking with previous program participants over the past 3 years.”
The latter point is something Daniel took to the extreme. “We are lucky that we have startups that were already accepted into the program. It is easier to see what others have done rather than reinvent the wheel. But if you fail, you can always apply again because this was our second time as well.”
Ridelink and EazyAgric will join other startups from Uganda that have benefited from the program. In 2022, four Ugandan startups CinicPesa, Easy Matatu, Eversend and Xente were selected for the program while none were selected in the first cohort in 2021. This year’s list is dominated by Nigerian startups (10) and Kenyan startups (5) which is usually the norm if we are bench-marking on the previous two cohorts.