Latest Tech

LATEST TECH NEWS: Africa-focused VC launches non-profit empowerment for youth. 4 other things and a trivia you need to know today, July 3, 2020

These 5 latest stories from the tech space will keep you updated with trends today.

1. Africa-focused VC launches non-profit empowerment for youth

In a bid to expand its offering, Africa-focused VC firm Ingressive has launched a non-profit venture to empower young people on the continent. According to the VC firm, the venture will comprise micro-scholarships, technical training, and talent placement. This announcement comes as the firm recently doubled the size of its investment vehicle, now operating a US$10 million fund. Although, this sharply shifts from its usual, where it invests in pre-seed and seed-stage tech-enabled businesses in the B2B space.

However, the new non-profit venture tagged: Ingressive For Good (I4G) will reportedly address the glaring inequities that existed within African tech ecosystems by increasing the earning power of African youth through tech training and resources. Sean Burrowes, chief operations officer (COO) and co-founder of Ingressive for Good, reiterated: “The three core goals of Ingressive For Good are to create 5,000 jobs through partnerships, connect one million African youth to technical skills training and award scholarships to qualified individuals studying computer science courses to leverage need-based resources, learning, and the power of work to empower African youths in tech.”

2. Apple launches novel portal for Apple Card holders

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Electronic-gadget company Apple, Friday, July 3, has launched an online portal for its Apple Card credit card. The novel portal will allow card account holders to manage their balances, view statements, schedule payments and more, within a space. According to Apple, the portal will be particularly useful in cases where device users lose or misplace their iPhone, therefore, needing to manage card or pay bills.

Before now, challenges of this nature are treated by 3rd party Goldman Sachs, who are in contract with Apple to serve as its support arm. However, the new site now offers services as this, and an easy way to pay balance when on the desktop or laptop. This way, according to the gadget company will enhance how users work on their monthly budgeting and bills. Explaining the use of the site, cardholders will log in via their Apple ID, and can surf from the left-side navigation to browse past statements or download them as PDFs.

Tech Trivia:

The “G” jn 5G stands for Generation while the “D” in 3D stands for…

A. Decorative
B. Design
C. Dimensional
D. Delusional

Answer: See end of post.

3. U.S. Intel to invest $253.5 million in India’s Reliance Jio Platforms

Santa Clara-headquartered technology company Intel has revealed its decision to invest $253.5 million in Jio Platforms. This multi-million dollar investment will add Intel to a long list of supersonic investors, who in the past, have invested. As the American chipmaker’s investment arm said it is acquiring a 0.39% stake in Jio Platforms, the investment brings the Indian firm to a valuation of $65 billion.

Read also: LATEST TECH NEWS: Nigeria’s IderaOS launches ListBuy to help scale MSMEs. 4 other things and a trivia you need to know today, July 2, 2020

Although, Intel Capital is the 12th investor to buy a stake in Jio Platforms, however, the company has raised more than $15.5 billion by selling a 25% stake since April this year. Confirming the investment to press, Wendell Brooks, Intel Capital President, stated that: “Jio Platforms’ focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel’s purpose of delivering breakthrough technology that enriches lives. We believe digital access and data can transform business and society for the better.”

4. PlayStation pulls ads off Facebook and Instagram as boycott

LATEST TECH NEWS: African-focused VC launches non-profit empowerment for youth. 4 other things and a trivia you need to know today, July 3, 2020

In July, Facebook and Instagram users will no longer be at sight of ads from PlayStation. This development, according to the Sony product, is to establish a boycott of the social networking site. As PlayStation joins others, there is fear that more company will toll same lane in the support of the recent #StopHateForProfit campaign, which urges marketers to pressure Facebook to do more to eliminate hate groups and offensive content on its platform.

The PlayStation community management has explained that: “In support of the #StopHateForProfit campaign, we have globally suspended our Facebook and Instagram activity, including advertising and non-paid content, until the end of July. We stand for working (and playing) together for good.” According to the growing list of companies boycotting the largest social media platform, “Facebook is responsible for providing a platform for bad-faith actors who target marginalized groups.” They argued that “Facebook tends to let these groups operate and grow because it’s good for its bottom line.”

5. Asia’s richest man launches app to compete Zoom

Praised as one of the few success stories of the Covid-19 pandemic, Zoom will now face a new competitor in an app backed by Asia’s wealthiest person, Mukesh Ambani. Ambani’s Reliance Industries rolled its sleeves as it ventures into building a videoconferencing product, JioMeet. Recall that the company has, since March, been securing multi-million dollar investments from high-profile industry leaders.

According to the company, it new app has already garnered more than 100 000 downloads on the Google Play Store after becoming available on Thursday evening. Reviewers noted that like Google Meet, Microsoft Teams and other services, JioMeet offers unlimited high-definition calls. However, unlike Zoom, it doesn’t impose a 40-minute time limit. Analysts have noted that this could be a marketing strategy to convert existing Zoom users. At launch, the app supports calls to continue as long as 24 hours, beating Zoom on this ground.

Tech Trivia Answer: Dimensional

3D computer graphics, or three-dimensional computer graphics, are graphics that use a three-dimensional representation of geometric data that is stored in the computer for the purposes of performing calculations and rendering 2D images. The resulting images may be stored for viewing later or displayed in real time.

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