Google Announces $175M Fund and Concrete Commitment to the Black Community
Photo Credit: AfroTech

Google Announces $175M Fund and Concrete Commitment to the Black Community

The roster of major corporations committing to fighting against racial injustice in America is continuously growing.

Google announced that they’ve created a $175 million fund for racial equity initiatives with a large focus on supporting Black-owned businesses and entrepreneurs.

Google and Alphabet chief Sundar Pichai revealed these initiatives that will aim to create more economic opportunities for Black entrepreneurs and finance their businesses.

“Creating meaningful change starts within our own company,” he stated in a company-wide memo. “Strengthening our commitment to racial equity and inclusion will help Google build more helpful products for our users and the world.”

Within this memo, he outlined each initiative toward creating racial equity, which includes improving Black representation on their leadership team, addressing representation challenges by hiring at all levels, establishing a range of anti-racism educational programs, and focusing on the mental, and physical well-being of their Black community.

According to Engadget, the company is aiming for underrepresented groups to make up 30 percent of their leadership by 2025.

The $175 million fund the company has committed to is part of an “economic opportunity package” that Google breaks down into four groups, according to The Verge.

Black-led venture capital firms, startups, and other organizations focused on Black entrepreneurs will receive $100 million of the funds, while another $50 million will be used for financing and grants for small businesses “focused on the Black community,” The Verge reports. Another $15 million will go toward training workers and nearly $10 million will help developers in the areas of “education, equipment and economic opportunities.”

Google is also promising $3 million to address gaps in computer science and STEM education, according to Engadget. It will also expand its awards program to 16 more universities to tackle said gaps and boost representation in AI with $250,000 going towards Black in AI.

“We’re announcing the next round of grants—at $1 million each—to the Leadership Conference Education Fund, the NAACP Legal Defense and Educational Fund’s Policing Reform Campaign and the Movement for Black Lives,” Pichai said in his memo.

Pichai concluded his memo thanking his staff for putting together ideas on ways they can make Google a better workplace and build a better future for the Black community.

“As a company, and as individuals who came here to build helpful products for everyone, Google commits to translating the energy of this moment into lasting, meaningful change.”