TLDR: Google Awards Grants To 20 Black And Latino Founders Using AI
Key Points:
- Google for Startups awarded grants to 20 startups led by Black and Latino founders, all utilizing AI.
- The startups aim to address various issues from eliminating bias in lending to personalizing beauty product recommendations.
A recent article highlighted Google’s efforts to support diversity, equity, and inclusion by awarding grants to 20 startups founded by Black and Latino entrepreneurs. Each founder received a $150,000 non-dilutive cash award, along with $100,000 in Google Cloud credits, mental health resources, and mentorship from AI and sales experts at Google.
The selected startups cover a range of industries, all incorporating AI technology in their business models. For example, Akeptus focuses on smart home energy management, Beta Financial Services aims to eliminate human bias from financial services, and Bountiful specializes in agricultural technology.
One of the notable recipients of Google’s award is Hue, a platform that uses AI to personalize makeup shopping experiences. Co-founders of Hue, Nicole Clay and Janvi Shah, emphasize the importance of building technology in an empathetic way to cater to diverse customer needs. The platform allows users to take a quiz about their skin tone and complexion, receiving personalized shade recommendations and reviews from customers with similar skin tones.
Despite the challenges faced by Black founders in securing funding, initiatives like Google’s Black Founders Fund and Latino Founders Fund are vital in providing support and mentorship to underrepresented entrepreneurs. Clay, one of the founders of Hue, highlights the significance of representation in the beauty industry, where Black consumers are often underserved.
The article emphasizes the untapped market opportunity in catering to the diverse needs of Black consumers in the beauty industry and the potential for Black-led startups to thrive with proper support and funding. Google’s commitment to supporting minority entrepreneurs through grants and resources reflects a proactive approach towards promoting diversity and innovation in the startup ecosystem.
