Accounteer Wins Inaugural MEST Africa Challenge

Accounteer has emerged winner of the inaugural MEST Africa Challenge, taking home the grand prize of $50,000 equity investment.

Accounteer is a SaaS company offering accounting and payroll management software tailored to the needs of African SMEs.

Hosted by the Meltwater Entrepreneurial School of Technology (MEST) – which has now been active in Africa for 10 years – the first MEST Africa Challenge took place on June 20 [2018] at the MEST Africa Summit in Cape Town.

The MEST Africa Challenge was a highlight of the closing day of the MEST Africa Summit, which brought together stakeholders from Africa, Silicon Valley and Europe to network and discuss trends, challenges and opportunities affecting markets across the continent, under the theme “The Year of the African Scaleup?”

Four regional winners took to the stage to pitch live to an audience of leading global investors, entrepreneurs and executives, for the chance to win $50,000 investment.

Nigeria’s Accounteer was selected the winner – pipping to the post Ghana’s Cowtribe (a USSD-based technology that connects livestock farmers with veterinarians who can provide vaccinations); Kenya’s ​Data Integrated (a payment processing company for the public transport industry), and South Africa’s Swift Vee (a livestock and agricultural trading platform).

This was the first time the Summit has been held in Cape Town, following MEST’s expansion to South Africa in December, when it opened a new Cape Town incubator, as well as a new space in Lagos.

Data Science Nigeria (DSN) Opens Nigeria’s First Artificial Intelligence Hub

Data Science Nigeria (DSN) opens Nigeria’s first-ever Artificial Intelligence Hub in the University of Lagos towards repositioning Nigeria as Africa’s leader in Analytics, Research and Data-Driven solutions.

The opening of the Hub brought together the academia, industry players, experts and the technology community, with the  focus of fostering a strong synergy, that will drive innovation to address socio-economic challenges in the nation.

In his opening remarks the Founder of Data Science Nigeria, Mr. Bayo Adekanmbi described the Artificial Intelligence Hub as a strategic intervention, that will  boost research, innovation and information technology across the country.

Mr. Adekanmbi said the hub has a clear focus on local innovations mindset to solve local social/business problems with top  priority on the Sustainable Development Goals (SDGs).

Strategies to be deployed in the hub according to Adekanmbi, include; Mentoring and Masterclass sessions facilitated by  global Artificial Intelligence experts and Bootcamps.

The Artificial Intelligence Hub will also serve as a key avenue for developing the Artificial Intelligence cycle in the country, focus on deep learning and encourage talent discovery in the innovation & data analytics space.

In his brief address the Vice-Chancellor of the University of Lagos (UNILAG) Professor O.T. Ogundipe lauded Data Science Nigeria for the AI Hub, assuring the Founder Mr. Adekanmbi and his team of the total support from the management.

Professor Ogundipe informed stakeholders that the Data Science Nigeria AI Hub initiative aligns with the University’s core focus on innovation, incubation and entrepreneurship.

The Director, Global Development Strategy, Data and Analytics of the Bill and Melinda Gates Foundation Dr Uyi Stewart described the hub as a novel initiative for Nigeria’s advancement.

Dr. Stewart a Nigerian with 10 patents registered in the United States challenged stakeholders to explore the immense opportunities in the fourth industrial revolution, which is driven by cloud computing, digitization and artificial intelligence.

The Acting Director of the Centre for Information Technology, University of Lagos Dr. Victor Odumuyiwa believes the hub will address the gaps between the academic community and the industry.

The opening event also featured a special hackathon session on Artificial Intelligence and financial inclusion in Nigeria, facilitated by Dr. Uyi Stewart.

Data Science Nigeria is the vision of Bayo Adekanmbi, Chief Transformation Officer, MTN, a  hands-on data scientist and a doctoral researcher who uses data science algorithms to understand low-income customers. DSN has organised free bootcamps, industry summits, online free courses and provide internship/direct job placements for the Nigerian data science community.

Data Science Nigeria, a non-profit foundation, is driven by its vision to accelerate Nigeria’s development through a solution-oriented application of machine learning to solve social/business problems and galvanize data science knowledge revolution, which can position Nigeria to become the outsourcing hub for international Data Science/Advanced Analytics/Big Data projects, with opportunity to access at least 1% share of the global big data and analytics market, valued at $150 billion in 2017 ($203 billion in 2020).

Winners Of 9th Beacon of ICT (BoICT) Awards [2018]

Winners have emerged at the 9th Beacon of ICT (BoICT) Awards during the 2018 Beacon of ICT Awards Distinguished Lecture series and awards ceremony, which held at Eko Hotel and Suites, Lagos.

The Beacon of ICT Awards Distinguished Lecture series and awards ceremony is organized yearly by Ken Nwogbo, the founder and Editor-in-Chief of NigeriaCommunicationsWeek, to appraise Nigeria’s information and communication technologies space, as well as reward outstanding contributions to the growth of the sector. The theme for this year’s awards was “Leveraging ICT Value for Building Institutions.”

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Risk Trading Engine, mTransfers & Social Lender Win $165,000 VentureClash 2018 Grant

Three technology startups – Risk Trading Engine, mTransfers and Social Lender have secured a $165,000 grant at the inaugural pitching event themed VentureClash 2018 organised by Connecticut Innovations, USA, in Lagos.

The startups: Risk Trading Engine, founded by Alexandre Aquereburu; mTransfers, by Segun Adeyemi and Maxwell Obi and Social Lender, by Faith Adesomowo and Mudiaga Ogboru have also got an opportunity to pitch for more investments at a larger event in Connecticut, USA later in the year.

Connecticut Innovations is a strategic investing arm for innovative growing companies.

12 Nigerian startups pitched in the competition before the emergence of the three.

The programme tagged: ‘VentureClash 2018’, began in March [2018] with the first round of applications. It will be concluded at a finalist pitch competition scheduled for October 18, in the USA.

VentureClash is Connecticut’s global ventures’ challenge for early-stage companies. It involves players in digital health, financial technology (fintech), the Internet of Things (IoT), and insurance technology (insurtech).

The Chief Executive Officer, etouches, Oni Chukwu, said the first-place winner would receive an investment award of $1.5 million. The remaining pool will be awarded to other finalists based on judges’ input. He added that winners would also receive mentoring and other assistance.

VentureClash is supported by Connecticut through its $5 million Global Venture Challenge for early-stage companies.

Chukwu, a tech investor with interest in startups, facilitated the programme in Nigeria.

Other competing startups at the VentureClash event were Solynta Mobile, Sattrak Services Limited, Kangpe Inc, Advancio Interactive, Beeptool Comm. & Integrated Services Limited.

Also included were Virtual Farm, SBSC, eMed Diaries, Peach Water Consulting, and FINT.

FUTMINNA Researchers Develop Prototypes Of SIMless Multiple Operator & Mobile Communications-enabled Walking Stick

Some researchers at the Federal University of Technology Minna (FUTMINNA), Niger state have developed prototypes of SIMless multiple operator and mobile communications-enable walking stick.

The two innovations which were funded by the Nigerian Communications Commission (NCC) are expected to solve problem of drop calls associated with bad quality network among the telecom operating companies in the country, and could reduce domestic accidents among the aged people who often live alone, according to the researchers.

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Beat Drone Wins Techfest 2018 Prize

Beat Drone, a startup that provides drone services for farmers has emerged winner at the Techfest 2018, which held in Lagos from 15 to 16 May 2018.

Beat Drone, one of the featured startups under Passion Incubator, won the 5 million cash prize and 5 million in technical supports from the sponsors of the event. The sponsors include Diamond Bank, Interswitch, Visa, Microsoft, NIBSS, Deloitte, MTN Nigeria and Beat FM.

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Taofeek Olalekan Afeez & Alayande Abdulwaheed Abiola Win 2018 Microsoft Imagine Cup [National]

Taofeek Olalekan Afeez and Alayande Abdulwaheed Abiola, of the Federal University of Technology, Akure (FUTA) have emerged winners of the 2018 Microsoft Imagine Cup National Finals in Nigeria.

The two undergraduates of Physics Electronics and Electrical Electronics who jointly formed TEAM TREP had presented a solution called Real Drip – a device that reduces the risk of blood clot or deep vein thrombosis. The non-invasive device monitors the flow of intravenous fluid during IV treatment and notifies medical staff in real time. The device monitors the rate at which intravenous fluid drops (flow rate) and notifies the medical staff on duty in real time, for the timely removal of intravenous needle to prevent back flow of blood, which may lead to pulmonary embolism if necessary action is not taken on time.

With this development, the team proceeds to the second round of the competition and if successful, they will join other students for global finals taking place in Redmond, Seattle in July [2018]. The competition is regarded as one of the biggest software competition for undergraduates in the world.

Now in its 16th year, Microsoft Imagine Cup, aims to give young developers the opportunity to acquire new and critical technical, business and team-building skills all while having fun along the way. However, the competition is segmented into three rounds, the National Finals which is round one, regional finals, round two and the World finals, round three (with a $100,000 cash prize).

Speaking on this development, Mr. Akin Banuso, General Manager, Microsoft Nigeria stated:

“Today’s students are the makers and doers that will build and change the world, as we know it. At Microsoft, we believe this new generation of innovators have the potential to address some of humanity’s most pressing problems; from how to predict and monitor diseases like Alzheimer’s and depression, to identifying ‘fake news’ or increasing response times during natural disasters.

Through Imagine Cup, the world’s young, aspiring entrepreneurs and developers collaborate to build a technology application, create a business plan and gain a keen understanding of what is needed to bring a concept to market. In a cloud-first, mobile-first world, creators and makers must work together to create a cloud for global good.”

Taofeek Olalekan Afeez, The Team Head for Team TREP, who was full of excitement said:

“We are excited about this win. We would like to thank Microsoft for this opportunity. We look forward to competing at the global stage and do our country proud.”

Also speaking, Mr. Damola Solanke, Principal Azure Apps & Infrastructure Lead, Microsoft Nigeria and Chief Judge of the competition said the winning idea was assessed based on four key areas – Technology, Innovation, Concept and Feasibility.

Mr. Damola Solanke said:

“We would like to commend TEAM TREP for satisfying the requirements of the competition. Their idea was well articulated and we look forward to seeing more homegrown solutions to our pressing needs as a country.”

The National entries for the Microsoft Imagine Cup competition opened in February 2018, and is available in 29 countries across the world including Nigeria. Participants create or join a team of up to three eligible students. Together, they make an original technology project from start to finish. The process involves coming up with a great idea, putting together a plan, building a project and submitting it.

Organized by Microsoft subsidiaries in-country, the National Finals select the best teams from each participating country as they pitch and demo their ideas to experts to vie for a coveted spot at the Imagine Cup World Finals.