Toro Orero quietly walked away as CEO of Zone Tech Park, a new venture builder for start-ups in Nigeria which was officially opened for business in Lagos last month to turn great ideas into products and services quickly, efficiently – and profitably.
Orero tweeted,”FYI: Last week I stepped down as CEO of ZoneTechPark. On SpeedUPAfrica acquisition I joined the Board of Directors and became CEO-but it became clearer as I worked there that I and the Board were fundamentally misaligned on the direction of the company. Yeah I know this happened fast (spending 2.5 months there…) but this decision although unfortunate was necessary. I had to stay true to myself and my beliefs. I’ll continue with the cool stuff we’re doing at DDF plus more time to focus on a new (stealth) startup I have been working on.”
Orero is the Managing Partner, DDF – a Silicon Valley Venture Capital fund (backed by Tim Draper, Founder, DFJ) investing in Africa’s most promising early stage technology startups such as SweepSouth, Paystack, Tizeti, Spreebie, VugaPay, Swiftly, TuseApp, Zagace, SliideAirtime and Startup Studio.
Though nothing has been said about Orero’s departure and or his replacement, Zone Tech Park is still open for startups and entrepreneurs to give them access to the tech hub’s multitude of services and advisers, a network of more than 400 corporations, market for their products as well as helping them to scale faster and raise more funding for growth.
Prior to its official launch, Zone Tech ran a small pilot program and has built Peerless, a learning management system that already has 10,000+ users and revenues of 100,000 USD and Outwork, a staff on-demand solution with 7,000+ users.
Akon’s Akoin wins him ‘Innovator Of The Year’ award
America-born Senegalese artiste, Akon, real name Aliaume Damala Badara Akon Thiam, has scooped an award as ‘Innovator Of The Year,’ by the Black Enterprise group during its TechConNext event held recently.
The songwriter, singer and producer was awarded in relation to Akoin, a crypto currency project he is undertaking in Africa. His Akon Africa lighting project is more known especially in West Africa.
“Akoin is for Africa but we are starting in Senegal,” he stressed in his remarks at the event where he was tagged Akoin Chief Visionary.
Akon together with fellow Senegalese Niang and Malian entrepreneur, Bathily; co-founded Akon Lighting Africa initiative. A project aimed at ‘‘bringing clean energy to millions of households in Africa.”
Read also: Andela Launches Tech Hub In Rwanda
The initiative in 2016 announced that it had raised about 1 billion dollars to finance projects in Africa. Akon told the media that even though it was not an easy task for him raising the first billion dollars.
Google shuts down social network Google+. Shares in parent company fall 1.23%
Google is set to shut down its social network site, Google+ after user data was left exposed.
According to the company, a bug in its software meant information that people believed was private had been accessible by third parties, adding that the breach affected up to 500,000 users.
A report by Wall Street Journal however revealed that Google knew about the breach since March but did not disclose it.
The WSJ quoted an internal Google memo that said doing so would draw “immediate regulatory interest”.
Google, while acknowledging knowing about the breach much earlier, said it was not serious enough to inform the public about it.
“Our Privacy and Data Protection Office reviewed this issue, looking at the type of data involved, whether we could accurately identify the users to inform, whether there was any evidence of misuse, and whether there were any actions a developer or user could take in response.
“None of these thresholds were met here,” Google said in a statement.
Google+ was launched in 2011, quickly becoming known as a failed attempt to compete with Facebook.
Shares in Google’s parent company Alphabet fell by 1.23%.
Here are the 8 startups selected for the 2018 VC4A Venture Showcase
VC4A has announced the 8 ventures selected for the 2018 VC4A Venture Showcase – Series A from industries like agriculture, healthcare, housing, transportation, and finance.
The entrepreneurs leading these companies will showcase their business in front of investors during the Africa Early Stage Investor Summit in Cape Town, November 11-12, with the aim of raising $250k – $5m in series A capital. All companies provide a technology-intensive or innovation-based product or service that is currently available in one or more African markets.
AgroCenta – Ghana
AgroCenta is an innovative online platform that empowers smallholder farmers and farmer-based organizations in rural farming communities to access a wider online market to trade fairly and equitably.
Fibre Lifestyle Inc – Nigeria
Fibre is the easiest way to find and pay for rental homes in Nigeria. By partnering with landlords around the country Fibre offers their homes to verified tenants looking to rent.
Gebeya Inc– Ethiopia
Gebeya is a fast and secure online marketplace that connects top African IT experts with businesses seeking to develop new technology solutions.
GoMetro – South Africa
GoMetro allows any business or company to design and implement a managed transport service. The flexible cloud-based technology makes transport planning, tracking, paying and reporting much easier.
Invoiceworx – South Africa
Invoiceworx is a working capital financing company aiming to provide access to inventory and purchase order of financing for small businesses.
Nawah-Scientific – Egypt
Nawah-Scientific is the first, private, multidisciplinary research center and platform in Egypt catering for natural and medical sciences.
Piggybank – Nigeria
Piggybank is a simple service that helps millennials curb their spending habits while improving their savings culture by automating deposits periodically, daily, weekly or monthly to reach a specific savings target.
Shezlong – Egypt
Shezlong is an online mental health platform that allows patients to connected with licensed therapists via video call on mobile devices or the web.
Over the next weeks, the selected start-ups will be linked to the top VC investors as mentors and receive access to the bespoke curriculum before the 1-week residency in Cape Town, South Africa. During the residency, the startups will have the opportunity to interact with and learn from their mentors, peers, and partners, before delivering their pitch on the main stage of the Africa Early Stage Investor Summit.
The program offers two days of networking opportunities at the Summit and where entrepreneurs will also engage with interested investors during their deep-dive sessions. Moreover, the participants will pitch to a wider audience of corporates, investors and tech professionals at VC4A partner events AfricaCom and AfricArena.
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