Black Tech Twitter is good for many things – from shining a light on the rising talent in the sector, helping members of the community land their dream jobs, to updating those who are keen to get into the industry on the latest events happening around the globe. But one thing it’s increasingly becoming well-known for is being a safe space to ask for advice and get “absolute gems” in return. Here at POCIT, we’ve broken down some of the latest advice from Black Tech Twitter this month. Just go
Nigeria’s one-click checkout platform OurPass has raised $1Million during its pre-seed round to help it scale its business across the country. The West Africa e-commerce market is still heavily reliant on cash on delivery, according to a recent survey conducted by Jumia. As of 2019, 70% of Nigerians said they prefer cash on delivery options to make online payments. But for those who do try to buy online – yearly, about 75% of shopping carts are abandoned because of how difficult the checkout experience can be with long forms and
Issa Rae has joined forces with American Express and the U.S. Black Chambers Inc. to help push their joint mission to expand their ByBlack initiative by launching the “first national certification program exclusively for Black-ownership designation.” The free platform, which was designed as a directory for Black-owned businesses, will now offer Black business-owners the opportunity to easily obtain approved accreditation that their customers and other companies can trust when spending with them. “Black businesses are American businesses,” Rae said, adding, “I think it’s one thing to support them during a very specific time when
The UC Davis Centre for Integrated Company and STEM Education, better known as C-Stem, has recently received a $2.4million grant to help young Black girls tap into engineering and robotics at a younger age. According to the center, which hopes the program will become a “mentoring pipeline,” the National Science Foundation gave the grant. The money will allow the organization to access vital resources needed to equip the girls with the necessary skills to succeed in the STEM sector. The program, dubbed The Ujima Girls in Robotics Leadership Project, will be
Latinx women are severely underrepresented in technology and Venture Capital—as are Latinx people in general. For example, while a dismal 0.2% of all venture capital goes to Black women in the US, a mere 0.4% goes to Latinx women. According to a new report published by Project Diane, of the Latinx women who are reported to have received that 0.4% [of the $400 billion in venture capital funding between 2009 and 2017], only 58 ever raised over $1 million, But there are five women who are making great strides in the venture capital
Minority Equality Opportunities Acquisition Inc, known as MEOA for short, is now the first Black-led special purpose acquisition company (SPAC) traded on the Nasdaq Capital Market. The news on the milestone move comes after MEOA, which will continue to focus on historically undercapitalized minority-owned or controlled businesses, closed a $126.5 million upsized IPO of units on August 30. Its founders – chairman Shawn Rochester and CEO Robin Watkins – believe “the mission and purpose of MEOA will help catapult minority enterprise in this country.” Mr. Rochester told the Seattle Times that as a
London-based digital-first car insurance provider Marshmallow has just become the UK’s second Black-founded unicorn after raising an $83million Series B – valuing it at $1.25 billion. The start-up’s founders Oliver and Alexander Kent-Braham, who are twins, first launched the platform in 2017 – initially set out to serve ex-pats who struggled to find affordable insurance. But since its boom and rapid scale in business – the firm now describes itself as a “mass market.” According to Sifted, it is one of only two UK insurance start-ups to be granted a license
Howard University has been targeted by cybercriminals in a ransomware attack which has forced the school to cancel Tuesday’s lessons and ban the use of both of its dining halls. In a statement found on the university’s website, it revealed that on September 3 its information technology team had detected “unusual” activity on the school’s network. As per protocol and to avoid potential criminal activity – the network was immediately shut down in order for the issue to be investigated further. But its teams have come to the conclusion –
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
