It’s not easy being a Black founder – there are many hurdles you have to climb before getting to the top, and one example includes the funding and investment process. Just 1% of Venture Capital (VC) firms financially back founders from the Black community in the US – while in the UK, that number sits at a ridiculously low 0.24%. According to BLCK VC, a nonprofit organization that equips Black investors to accelerate their careers in VC, more than 80 percent of venture firms in America don’t even have a single Black
El Salvador has become the first country to accept Bitcoin as a legal currency in a move that has got the world debating whether cryptocurrency should be used in this way. The country has reportedly already bought its first 400 bitcoins, worth an estimated $21 million based on bitcoin’s value at the time of the announcement, according to a series of tweets by the country’s President – Nayib Bukele. Millions of people are now expected to download the government’s new digital wallet app which gives away $30 in Bitcoin to every
A group of tech and diversity pioneers is calling for robust action to be taken as Facebook’s facial recognition software mistakenly labeled a video featuring Black men as “about primates.” Marcel Hedman, the founder of A. I group Nural Research, a company that explores how artificial intelligence is tackling global challenges, described the long-standing issue as a “multi-layered” problem that can “definitely be solved.” Mr. Hedman, 22, based in London, said: “There was definitely no shock when I heard about the Facebook incident, and I think the reason why is
Nigerian automotive tech company Autochek has announced the acquisition of Cheki Uganda and Kenya from Ringier One Africa Media in what has been described as a “milestone” move. Cheki, which first launched a decade ago in Kenya, has grown into a well-known car dealer site – spearheading the industry with 700,000 users and over 12,000 vehicle lists monthly. The start-up eventually expanded its operations to Nigeria, Ghana, Zambia, Zimbabwe, and Tanzania before ROAM was acquired in 2017. But now, according to a statement on ROAM’s website, the business where people can
