Forbes on Nostr: Bucking Anti-DEI Trend, Google Awards Grants To 20 Black And Latino Founders—All ...
Bucking Anti-DEI Trend, Google Awards Grants To 20 Black And Latino Founders—All Using AI
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Google for Startups has awarded grants to 20 startups led by Black and Latino founders, all of which use artificial intelligence (AI) in their business models. Each founder will receive a $150,000 non-dilutive cash award and $100,000 in Google Cloud credits, along with access to mental health resources and mentorship from Google experts. Funding for Black founders dropped 71% in 2023, and Google for Startups has invested $50 million since 2020 in Black and Latino-led startups. The startups receiving grants this year include companies focused on smart home energy management, eliminating bias in lending, agricultural technology, facility decarbonization, recruiting, and climate insurance. One of the companies receiving a grant is Hue, which uses AI to personalize online makeup shopping. The company aims to provide shade recommendations and reviews from customers with similar skin tones. According to a report by McKinsey & Co., only 16 out of 213 venture capital-backed beauty companies have Black founders, despite Black consumers being three times more likely to be dissatisfied with their options for hair care, skin care, and makeup.
#Google #Startups #BlackFounders #LatinoFounders #ArtificialIntelligence #Funding #Diversity #Equity #Inclusion
https://www.forbes.com/sites/janetnovack/2024/07/15/bucking-anti-dei-trend-google-awards-grants-to-20-black-and-latino-founders-all-using-ai/
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Google for Startups has awarded grants to 20 startups led by Black and Latino founders, all of which use artificial intelligence (AI) in their business models. Each founder will receive a $150,000 non-dilutive cash award and $100,000 in Google Cloud credits, along with access to mental health resources and mentorship from Google experts. Funding for Black founders dropped 71% in 2023, and Google for Startups has invested $50 million since 2020 in Black and Latino-led startups. The startups receiving grants this year include companies focused on smart home energy management, eliminating bias in lending, agricultural technology, facility decarbonization, recruiting, and climate insurance. One of the companies receiving a grant is Hue, which uses AI to personalize online makeup shopping. The company aims to provide shade recommendations and reviews from customers with similar skin tones. According to a report by McKinsey & Co., only 16 out of 213 venture capital-backed beauty companies have Black founders, despite Black consumers being three times more likely to be dissatisfied with their options for hair care, skin care, and makeup.
#Google #Startups #BlackFounders #LatinoFounders #ArtificialIntelligence #Funding #Diversity #Equity #Inclusion
https://www.forbes.com/sites/janetnovack/2024/07/15/bucking-anti-dei-trend-google-awards-grants-to-20-black-and-latino-founders-all-using-ai/