Nigeria launches insurtech-focused accelerator, BimaLab. 1 other thing and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Nigeria launches insurtech-focused accelerator, BimaLab

Nigeria’s National Insurance Commission (NAICOM) has launched BimaLab, an accelerator programme designed to boost the development and adoption of digital solutions for the insurance sector.

The development comes in partnership with FSD Africa, and will borrow from Kenya’s BimaLab I, BimaLab II and global best practices with a focus on local experience.

The partnership aims to address gaps in the insurance market by educating, nurturing, and promoting innovators and insurtech startups.

According to the duo, ten companies will be selected to participate in the ten-week programme that will provide them with the expertise, resources, and support to develop and scale market-ready solutions.

Speaking on the development, Kelvin Massingham, director of risk and resilience at FSD Africa, noted that the programme is expected to bring social and commercial value to Nigeria’s insurance sector, in the light of the success recorded with similar programme earlier launched in Kenya.

“We believe that this programme will enhance the development of a vibrant ecosystem of startups, through collaboration with corporate partners, investors and research institutions to accelerate and scale innovation in the insurance industry in Nigeria,” he said.

Tech Trivia: In computing, the term “app” is short for what word?

A Apple
B Appliance
C Appearance
D Application
Answer: See end of post

READ ALSO: Canadian fintech startup, Periculum, launches in Nigeria. 2 other things and a trivia

2. Zindi raises $1m seed round to accelerate venture

Popular South African startup, Zindi, has announced raising a US$1 million seed funding round.

The round, according to the startup, was raised to help it build on its impressive early growth.

Zindi was launched in 2018 by Celina Lee, Megan Yates, and Ekow Duker with a mission to make data science accessible to the public.

Three years after launch, Zindi hosts a community of over 34,000 data scientists solving some of the world’s most pressing business and social challenges using machine learning and AI.

It was gathered that companies consult Zindi to source top solutions and talent for their organisations.

The new raiser was led by the San Francisco-based Shakti VC, along with Launch Africa Ventures, Founders Factory Africa, and five35.

Trivia Answer: Application

An application, or application program, is a software program that runs on your computer. Web browsers, e-mail programs, word processors, games, and utilities are all applications.

The word “application” is used because each program has a specific application for the user. For example, a word processor can help a student create a research paper, while a video game can prevent the student from getting the paper done.

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