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Weekly Newsletter
Top news & stories of the startup ecosystem from Nigeria
 

Weekly Wrap | 3rd March / by  Deji Aroloye

 
 
 

The Big Story

 
 

Good day  Olumide, 

Last week, Nigeria confirmed its first case of the coronavirus disease (COVID-19). Egypt had recorded its first case about two weeks ago.

COVID-19 was first identified in Wuhan, a provincial capital in China. The effects of the pandemic have been very devastating with thousands of deaths recorded in the Asian country alone since the outbreak started late December 2019.

However, there are lessons Africa can learn from China in its efforts to curb the spread of COVID-19. The use of emerging technologies such as artificial intelligence, robotics, and drones is helping to curtail the deadly disease in a country with a population of over 1 billion.

For instance, e-commerce giant Alibaba launched an AI-based solution to detect coronavirus infection in less than 20 seconds with an accuracy of up to 96%. Chinese search engine Baidu has open-sourced its RNA prediction algorithm LinearFold to help researchers speed up the time for the prediction of the virus’ RNA secondary structure from 55 minutes to 27 seconds.

Besides, autonomous robots have been deployed in quarantined wards in hospitals to sterilize medical equipment without human intervention. Chatbots are giving real-time information on coronavirus outbreaks. Other tech startups have built solutions to ensure the slow spread of the disease. But the hard truth is the Chinese government has created an enabling environment for the local companies and startups to thrive years before the country was hit by a coronavirus.

Likewise, African startups can scale their capabilities especially in the face of emergencies like COVID-19. However, governments will need to create a culture that encourages the use of emerging technologies to combat societal challenges. There is a need to invest in the growth of Africa's AI industry. With the right environment, tech startups on the continent can create more innovative solutions which will drive social impact.

Cheers,

Team StartupLagos

 
 

 Stories of the week
Here are a few big news items from the Startup Scene

 

 

  • Google Country Director appointed Nestle Director. Food manufacturing and marketing company, Nestle Nigeria Plc, has appointed Mrs. Juliet Ehimuan as an Independent Non-executive director. Ehimuan is currently Google’s country director in Nigeria. Read more.
  • $268 Million for Entrepreneurs, Innovators. Vice President Yemi Osinbajo said Nigeria had approved disbursing $268 million in funding to support agricultural entrepreneurs and young technology innovators according to Bloomberg news report. Read here.
  • Jumia’s GMV crosses $1billion, but records more losses. E-commerce platform Jumia has released its financial report for the fourth quarter of 2019. According to TechCabal, the company’s gross merchandise value (GMV) crossed $1 billion while it recorded more losses than the previous year. Read more.
  • African youth bullish on their future. Amidst the challenges faced in Africa, its youth are optimistic about their future according to the recently published African Youth Survey 2020. This new wave of optimism is spurred by belief in individual responsibility, entrepreneurship, and possibilities with technology. Download the report here
  • Lifestores raises N365 million. Lifestores, a Nigerian healthtech startup, has raised N365 million in new seed round for the expansion of its drug distribution to different parts of the country. Read more.
 
 

Job & Opportunities 
Funding, Events, other opportunities 

 

 

  • TEF extends applications deadline. The Tony Elumelu Foundation, TEF, has extended the deadline for its 2020 TEF grants for entrepreneurs to March 31. Learn more to apply.

  • Postgraduate scholarships for African students. Postgraduate scholarships are available to students from most African countries for a full-time MPhil/PhD program at King’s College London in the 2020/21 academic year. Learn more.

  • Ecobank Fintech Challenge 2020. Fintech startups can apply to the Ecobank Fintech Challenge. Selected finalists will be inducted as Ecobank Fintech Fellows among other benefits. Visit here to apply.

  • Mest Africa Tech By Her Accelerator. Female entrepreneurs can participate in the Tech By Her Accelerator to be organised by MEST Africa, a Ghana-based incubator. Learn more to apply.

 
 

Job Board

Program Manager at Seedstars Lagos

Full Stack Python/React Software Engineer at Quickcheck

Credit Collection Tele Support at Lendigo

 
Best Regards
Team Startup Lagos
 
 
 

About Us

 

Startup Lagos is a grassroots network of entrepreneurs (Startups, SME’s ) working together to build an environment for entrepreneurship in Nigeria. brought to you by Prime Startups

We want to see more tech-enabled companies start and scale in Nigeria! Supporting entrepreneurs as they build and grow tech-enabled products & companies is at the heart of Startup Lagos

 
 

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