Here at AudioMob we’ve just received some very special funding indeed. The money will help us grow our team, refine our technology and further our patent portfolio development.
But being selected as one of the 30 startups to benefit from Google for Startup’s European Black Founders Fund is about something bigger.
The Fund was established as a response to the fact that in the UK less than 0.25% of total VC funding goes to Black-led startups. Additionally, Black people make up less than 3% of the VC community.That simply doesn’t represent the reality of representation in the wider population.
One of the focuses for AudioMob will be using the funding to build out an already diverse team. That matters because the startups of today are the large companies and corporations of tomorrow. As such, the funding is not just an opportunity for AudioMob to grow as a business (though we’re certainly continuing to do that!) - it’s a chance to be part of establishing a better future for the creative, technological and entrepreneurial sectors.
Google’s own research has highlighted that Black-founded companies are particularly good at building teams that are diverse in many ways. And that’s highly important too. If future corporations and startups are to be truly representative, the full sweep of diversity matters.
As such, we’re absolutely building a company that contributes to a fairer, more representative future. And if we can become a point of inspiration for other startups, or even a role model for future founders, that will be an important achievement for AudioMob. Yes, we want to grow our business, increase revenues and change the world of mobile advertising. But we also want to be part of leaving a wider legacy. The Google Funding helps us do that.
In fact, we’ve always strived to build that legacy, and we’d encourage other startups to focus on doing the same. Prior to the funding, we’d already established our own mentoring program for Black students aged 18 - 25 years old; and there we encourage anyone from any background to apply. The mentoring programme remains open; everyone is welcome - every application will be considered.
We also want to give a heartfelt congratulations to all the other startups selected for the fund. We really are among inspiring and exciting startups, and to be listed along outfits such as Suvera and Afrocenchix - well, it may sound a little cliche to say it, but that truly is an honour.
This is about a bigger picture than 30 startups, but to be part of the forward momentum that addresses a lack of diversity and equity is a privilege and an opportunity. So here’s to building a better tomorrow together, where equality and representation become norms of business practice. There may still be a way to go, but the fund is helping us be part of the collective forward journey.