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General News

Microsoft-backed FAST Accelerator Launches 2nd Cohort of AI Program to Boost African Startups

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Flapmax
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Flapmax, a leading artificial intelligence (AI) company on a mission to enrich the lives of everyone on the planet through innovation, has announced the launch of the second FAST Accelerator program.

Flapmax

It is designed to support and fund the next generation of innovative companies and entrepreneurs throughout the African continent.

Building on the success of the inaugural program, FAST Accelerator 2023 offers a transformative experience for startup founders seeking to scale rapidly and sustainably. More than 800 startups from 25+ countries applied to join the inaugural program.

“FAST Accelerator represents our commitment to supporting ambitious entrepreneurs who are driving sustainable innovation across the continent of Africa and emerging markets,” said Dr. Dave Ojika, CEO of Flapmax.

“Through this comprehensive program, we are dedicated to connecting startup founders with a global community, industry-leading technology, and the essential startup funding necessary to forge the path towards local, sustainable, and AI-powered technological solutions of the future.

“Together, we unite in building a brighter future for Africa and the world, fueled by the transformative power of technology and innovation”.

In partnership with Microsoft, the FAST Accelerator initiative combines business development, technology integration, funding opportunities, and community building to empower startup companies based in Africa and emerging markets to deliver sustainable solutions. It also provides dedicated venture funding and invaluable mentorship opportunities.

The top ten FAST Accelerator 2023 startup participants will be selected for a five-week program in Silicon Valley, California, to forge relationships with industry experts, potential investors, and global partners through Flapmax’s vibrant ecosystem of over 600 corporate partners.

Startup leaders are encouraged to apply to FAST Accelerator this July. To be eligible, startups must be based in Africa, prepared to scale or expand throughout the continent, and have demonstrated established product-market fit and revenue generation. The program is prioritizing business-to-business startups for this cohort, with the areas of healthcare, fintech, Edutech, and industrials/agtech of particular interest. Sustainability and deeptech startups are also encouraged to apply.

Program participants must be available and committed for the entire duration of the program, which includes a two-week virtual bootcamp in August 2023, followed by a five-week accelerator program in October in California. The journey begins with an intensive virtual bootcamp designed to validate startup ideas, refine business models, and prepare founders for the next stage of growth.

Next, the top startups are selected to join a five-week accelerator program on the ground in Silicon Valley to experience unparalleled acceleration, networking, and fundraising opportunities, while immersing themselves in the dynamic startup ecosystem of Silicon Valley.

“As a HR technology company dedicated to building world-class software solutions for businesses, we are delighted to have participated in the transformative FAST Accelerator program in 2022,” stated Lekan Omotosho, co-founder and CTO of Pade.

“The technology and business masterclasses offered through Flapmax Learn were truly exceptional, and the invaluable network of mentors and advisors has played a significant role in our growth. With the successful raise of $500,000, we are poised to scale our cutting-edge HCM solutions across the continent, catering to both SMEs and large corporations.”

“At Snark Health, we are pioneering a novel approach to healthcare payment solutions, and our collaboration with FAST Accelerator has been instrumental in driving our growth,” said Edwin Lubanga, co-founder and CTO of Snark Health.

“Through FAST’s support, we have gained access to critical infrastructure, enabling us to deploy our services at scale. Working in conjunction with Microsoft and Azure services and partnering with hospitals in Kenya, we are determined to deliver equitable and affordable healthcare to tens of thousands of SMEs and health centers across Africa, creating a lasting impact on the healthcare landscape.”

“Our collaboration with FAST Accelerator has opened doors to an extraordinary opportunity, one that I fully endorse,” said Innocent Orikiiriza, founder and CEO of KaCyber Technologies. Guided by FAST Accelerator, we have developed a comprehensive sustainability framework that now underpins our business operations, emphasizing the vital importance of sustainability in the public transport sector.

“Additionally, we have achieved a major milestone of processing 11 million travel tickets to date, amounting to a transaction value of 200 billion Ugandan shillings, immensely bolstering our revenue pipeline. With major corporate partnerships underway, we eagerly anticipate unlocking even greater possibilities with FAST as we work towards realizing a seamless and sustainable mobility experience throughout Africa.”


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General News

University Don Seeks Ban of Smartphones, Social Media in Schools

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Dr Saeed Olorunnisola, interim Dean of the Faculty of Agriculture at Al-Hikmah University in Ilorin, Kwara State, has urged the federal and state governments to prohibit the use of smartphones in secondary and tertiary schools.

University Don Seeks Ban of Smartphones, Social Media in Schools

Olorunnisola stated that the prohibition will help students concentrate in class.

He stated this during the mission for the eradication of examination malpractice’s (MEEM) second national symposium in Osogbo, Osun State, at the weekend.

Olorunnisola expressed concern about the impact of examination malpractices on education and national development, citing social media as a major impediment to students’ concentration even in secondary schools.

“Social media is causing distraction in secondary schools. Tertiary institutions are the worst.  Students don’t care any longer. Some of them are taking photo shot of notes and they will not read them. They are usually on social media.

“What we have right now is a misuse of technology and it must be taken away. We have a university that has banned their undergraduate from using mobile phones,” he said.

Speaking on the need for government to act and assist young learners to concentrate in class, the don said ban on the use of smartphones by a particular university that he did not disclose eventually assisted its students to concentrate more in class.

In his remarks, Prof Buniyameen Abdulkareem, chairman of the MEEM Board of Trustees, stated that the group, a non-governmental organisation founded by the Muslim Students’ Society of Nigeria B-Zone, organised the symposium for policymakers, students, and teachers after realising the need to stem the tide of rising examination malpractices in the country.


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General News

Amid Rising Investor Confidence in Nigeria, Woodhall Capital Foundation Trains Captains of Industry

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L-r: Head, Brand and Marketing, Woodhall Capital, Mrs. Onyinyechi Aderibigbe; President, Woodhall Capital, Mrs. Mojisola Hunponu-Wusu; Ag. Managing Director, NOVA Bank, Mrs. Chinwe Iloghalu, and the Founder, Mentor Intro Africa, Mrs. Fola Niyi-Duale during the Captains of Industry mentorship programme at the Ebony Live Studios, Victoria Island, Lagos on Friday April 5.
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As business confidence in Nigeria rose to the highest level in 14 months signalling a rising demand for their goods and services, Woodhall Capital International Foundation (WCIF), a subsidiary of Woodhall Capital, a leading financial advisory firm, in partnership with Mentor Intro Africa, a premier platform for connecting with the world’s foremost mentors, has commenced the training of a new generation of Captains of Industry through an ongoing 6-week intensive mentorship programme.

Speaking about the programme which commenced with forty shortlisted mentees on Friday March 5 at EbonyLive Studios, Victoria Island, Lagos, the President of Woodhall Capital, Mrs. Mojisola Hunponu-Wusu, noted, “We are very excited to bring together 40 Captains of Industry and share ideas and visions on how to build sustainable businesses in Nigeria.

It’s been a wholesome experience from 9am to 3pm. It’s so heartwarming to have found Captains of Industry who are indigenous to Africa and others who are going global. We shared ideas on how exactly we can accomplish these, the peculiarities of doing business in Nigeria, and the possibilities of Africans building offices around the world. That’s what we have started on Friday.”

Reinforcing what the partnership means to her, the Founder of Mentor Intro Africa, Mrs. Fola Niyi-Duale, remarked, “What we set out to do is to bridge the gap between career professionals and those who have already walked the path.

“It means we created a structured virtual platform where experienced industry leaders can guide, support, and inspire professionals and entrepreneurs on their journey to greatness. This is big because it epitomizes impact and we’re leaving a legacy for people to see and enjoy a future that we may not even be a part of, but we have laid the foundation.”

Both partners reiterated that the mentorship is not for the optics and its impact upon completion would far-reaching.

One of the mentees, Co-founder/Chief Technical Officer, Blue Sands STEM LabsOveral, Kingsley Okechukwu, excitedly said, “I’m glad I got the opportunity to be part of this mentorship. Our first session reinforced the significance of visionary leadership, employee retention, continuous innovation, and strategic positioning in ensuring long-term business success.”

This collaboration between Mentor Intro Africa and Woodhall Capital Foundation brings together visionary leaders, seasoned professionals, and the next generation of changemakers in an empowering initiative designed to bridge mentorship with high-impact leadership.

Together, the partners aim to spotlight industry pioneers, foster meaningful dialogues, and create lasting impact across Africa’s business and professional landscape.


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NASRDA Commences Space Regulation Mandate with N20Bn Fund

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National Space Research and Development Agency (NASRDA) is set to commence the implementation of its space regulation and licensing mandate following the approval of a N20 billion take-off fund by President Bola Tinubu.

NASRDA Commences Space Regulation Mandate with N20Bn Fund

Speaking in an interview, Dr. Matthew Adepoju, director-general, NASRDA, emphasised that the agency’s regulatory functions, as outlined in the NASRDA Act (2010), have remained unfulfilled since its establishment in 1999.

To address this, Adepoju submitted a memorandum to President Tinubu advocating for enforcement of space regulation, leading to the recent approval of funds.

Adepoju highlighted the urgency of regulating Nigeria’s space sector to prevent misuse, particularly regarding security-sensitive activities.

The regulatory framework will oversee:

Satellite image providers

Geographic information system operators

Satellite-based telecommunications and broadcasting services

He warned that unregulated geographical data intelligence could be exploited by non-state actors, underscoring the importance of strict oversight.

NASRDA has set up a licensing platform open to public and private sector operators in the space industry.

The regulation will cover Nigeria’s three space segments:

Upstream – Deep space activities

Midstream – Satellites and orbital objects

Downstream – Ground stations and space service users

Although the agency has yet to access the N20 billion fund, Adepoju confirmed that regulatory and licensing functions have commenced.

 


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