Cet article est aussi disponible en français
First published June 21, 2026
When Google graduated another cohort from its African startup accelerator this week in Nairobi, it repeated a decision it has made for years: take no equity from participating startups. The arrangement is often presented as founder-friendly support, proof that startups can access resources, expertise and distribution without diluting ownership. Yet Google’s model points to a larger reality taking shape across technology and finance.
The most sophisticated capital providers are becoming less interested in owning startups and more interested in owning the ecosystems, revenue streams and commercial relationships that startups eventually create.
Originally published by TechCabal.