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AI
Andela launches AI-driven platform to improve tech hiring
Nigeria-born unicorn, Andela, is enlisting AI’s help in its mission to connect companies with the best tech talents.
The company has announced the launch of Andela Talent Cloud, an integrated, AI-driven platform that streamlines the process of matching global technologists with companies in need of specific skill sets and increased capacity, enabling informed and secure hiring decisions.
Simplified hiring: Andela says the platform will simplify the entire hiring process, covering sourcing, qualification, hiring, management, and payment of global technologists all in one place. Additionally, the Andela Talent Cloud relies on the AI-driven Talent Decision Engine (TDE) to precisely match talent with client-specific roles and skill requirements.
Per Andela, the entire procedure can take as little as 48 hours, and prove to be 30% to 50% more cost-efficient. It outshines traditional hiring methods like in-house recruitment, consulting firms, and outsourcing.
Zoom out: Andela’s global client footprint includes companies such as Mindshare, Google, and Microsoft. These companies have reportedly relied on Andela to scale their teams and deliver projects faster.
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Policy
Airbnb regulations in South Africa threaten small-time hosts
South Africa is tightening its grip on Airbnb and other home-sharing platforms.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
What new regulations? In April 2019, the Department of Tourism unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill. This bill aims to grant the tourism minister the authority to set specific “thresholds” for South African Airbnbs. These thresholds could include limits on the number of nights a customer can book.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Furthermore, Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow. This includes obtaining municipal permission, ensuring safety checks, acquiring hospitality insurance, and registering with local tourism authorities. De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
A pushback from Airbnb: Airbnb has expressed concerns about the proposed regulations. They have taken issue with the proposed limits on the number of nights a property can be rented and a registration system requiring property inspections before being listed on the platform. Airbnb emphasises the need to differentiate between small-scale homeowners renting out a single room and those operating more significant, small-to-medium-sized guesthouses.
Funding
Sony launches $10 million fund for African startups
Sony has launched the Sony Innovation Fund to support the growth of entertainment startups on the continent.
What startups? Sony will invest about $10 million in seed to early-stage startups across gaming, music, movie and content distribution sectors.
The company has yet to specify the total number of startups that will benefit from the fund. However, ticket sizes are expected to range between $250,000 to $1 million. Gen Tsuchikawa, CEO of Sony Ventures, told TechCrunch that in addition to the fund’s seed and early-stage investment strategy, it will offer follow-on investments to its portfolio companies.
Sony is also collaborating with the International Finance Corporation (IFC), the largest global development institution focused on the private sector. The partnership will support the growth of the entertainment industry in Africa by leveraging the strengths of both parties.
Zoom out: According to data from Partech, gaming, music, movie and content distribution startups receive less than 1% of VC dollars on the continent. Sony’s Innovation Fund provides a pathway for actualising the enormous potential of these areas.
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Funding
Baobab launches new fund for African startups
African early-stage startups are getting new funds.
Baobab Network has announced plans to invest in 1,000 African startups for the next 10 years.
A $100,000 fund: To kick start its goal, the accelerator has launched a $100,000 investment fund for early-stage startups on the continent. In addition to the funding, Baobab Network will offer a 12-week accelerator to the startups selected to set them up for scale.
Startups selected for Baobab’s latest cohort include Brandrive, a growth-as-a-service startup in Nigeria; PocketFood, a kitchen-as-a-service startup in Nigeria; Bunce, a payment automation startup in Nigeria; Kawu, a fintech startup in Uganda; and Alal, a startup in Senegal.
Per Techmoran, each company has received $50,000 directly from Baobab, with another $50,000 investment from their newly launched co-investment Vehicle.
Baobab continues to be one of the most active pre-seed investors in Africa. The Nairobi-based accelerator invested in five startups earlier in February this year.
Zoom out: Investment funds like Baobab Network’s raise fresh hopes for early-stage startup founders who are looking to raise amidst dwindling funding options on the continent.
Attend the Ugandan National Science Week
The National Science Week (NSW) is a hallmark event in Uganda’s calendar, celebrated every year to honor Science, Technology, and Innovation (STI). The event will feature a dedicated Investor Summit, bringing together some of the world’s leading pan African Venture Capitalists, Investors, and Startups. Find out more here.
Crypto Tracker
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
 Bitcoin |
$28,446 |
+ 4.34% |
+ 6.14% |
| Ether |
$1,588 |
+ 0.27% |
– 2.61% |
 Orbs |
$0.049 |
+ 23.06% |
+ 127.37% |
| Loom Network |
$0.30 |
– 22.50% |
+ 534.81% |
* Data as of 06:25 AM WAT, October 17, 2023.
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Opportunities
- The National Information Technology Development Agency (NITDA), through the Office for Nigeria Digital Innovation (ONDI), in collaboration with the Japan International Cooperation Agency (JICA), are organising a one-week networking visit to Japan by selected Nigerian CleanTech Startups. Apply here.
- Applications are open for the Aurora Tech Award 2024. The Award is an annual global prize for women founders of tech startups. Winners of the first prize get $30,000, the second prize gets $20,000 and the third prize gets $10,000. Apply by December 1.
What else is happening in tech?
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