These latest stories from the tech space will keep you updated with trends today.
1. Nigerian recruitment startup TalentQL closes $300k funding
Yusuf Adewale’s talent outsourcing and incubator company TalentQL has closed a US$300,000 pre-seed funding round led by Zedcrest Capital, a Nigerian VC. The one month old company hires, develops and manages remote talent for global companies. Founded by Adewale Yusuf, Opeyemi Awoyemi and Akintunde Sultan who are respective co-founders of Techpoint Africa, Jobberman and DevCareer, the startup launched with plans to build a pipeline of quality talent for African companies as well as source and manage top local talent for leading international firms.
According to reports, the startup’s business model includes building talent campuses in less-crowded African cities with proximity to top tertiary institutions. Adewale Yusuf, TalentQL’s chief executive officer (CEO), speaking on the development, noted that it looks to build remote teams across Nigeria. He said: “Our mission is to help progressive companies build solid remote teams and a pipeline of quality talent. This pre-seed funding allows us to kickstart this mission and we are convinced that what we are doing at TalentQL will change the African talent landscape.”
Which of these tech giants started as a grocery store, selling vegetables?
Answer: See end of post.
2. Space-Tech Challenge 2020 selects 17 African startups as finalists
The Space-Tech Challenge 2020, aimed at developing the most promising new innovators, entrepreneurs and early-stage businesses in the space-tech sector across Africa, has announced selecting 17 African startups as finalists to compete in the ongoing edition of the programme. Space-Tech applications, according to press, use earth observation to gather information about the physical, chemical and biological systems of the planet via remote-sensing technologies. Analysts added that such tech, in recent times, has seen a surge in demand for these applications across a wide range of industries.
Speaking on the development, the board said the Space-Tech Challenge will identify and develop startups in this space, specifically targeting downstream space-tech applications across agriculture, insurance, retail, sustainability and conservation. The seventeen finalists which have been selected to progress to the next stage of the challenge will undergo an intensive two-week business development support programme. Following this, they will further proceed into a pitching den where startups will present their solutions to a panel of judges and industry representatives.
3. Facebook Commerce Accelerator programme shortlists eight African startups
Eight African tech startups focusing on the commerce sector have, today, November 18, been selected for the prestigious Facebook Accelerator Programme. According to Facebook, the 12-week non-equity virtual programme aims to assist selected startups in improving their customer relations and creating a seamless shopping experience for users. Founded and run by Facebook, a total of 36 startups from Europe, the Middle East, Africa, and Latin America have, till date, been selected for the commerce accelerator programme.
Speaking on the initiative, in an official statement, Michael B. Huang, Head of Startup Programmes at Facebook, while providing insight into the benefits and aim of the programme, noted that the goal was to build an indomitable workforce for the world. He said: “Over the course of three months, we’re bringing together innovative commerce startups in Europe, the Middle East, Africa, and Latin America to help create a unified shopping experience across all Facebook apps. Throughout the virtual program, the selected startups will have access to a dedicated Facebook mentor, comprehensive training, Facebook’s suite of products and technologies, and a valuable network of product experts and fellow founders to connect with.”
Tech Trivia Answer: Samsung
Samsung was founded as a grocery trading store on March 1, 1938, by Lee Byung-Chull. He started his business in Taegu, Korea, trading noodles and other goods produced in and around the city and exporting them to China and its provinces. After the Korean War, Lee expanded his business into textiles and opened the largest woolen mill in Korea.
He focused heavily on industrialization with the goal of helping his country redevelop itself after the war. During that period his business benefited from the new protectionist policies adopted by the Korean government, whose aim was to help large domestic conglomerates (chaebol) by shielding them from competition and providing them easy financing.
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