Houston-based South Loop Ventures announced a $21 million Fund I, led by Rice Management Company and Chevron Technology Ventures. Texas Capital Bank and The Great Commission Foundation of the Episcopal Diocese of Texas also participated in the funding round. According to its founder and managing director, Zach Ellis, the fund will focus on founders nationwide but hopes to attract founders in healthcare, energy, space, and climate. The firm has made 13 investments and hopes to increase to at least 30. Investing in diverse founders The firm launched in 2022, focusing
The South African government will alter its Black Economic Empowerment (BEE) regulations to allow Starlink to operate in the country. Bloomberg reported that the offer came at a last-minute meeting on Tuesday, 21 June. Foreign investors in South Africa’s telecom sector are required to allocate 30% of a project’s equity to Black-owned businesses to obtain a license. However, Elon Musk’s satellite internet provider will be allowed to meet BEE requirements through equity-equivalent investments instead. South Africa’s Workaround for Starlink South Africa created the BEE laws to address racial inequalities stemming from
This article is sponsored by Walmart Business. Black and Hispanic entrepreneurs are reshaping the hospitality industry, from vibrant boutique hotels and dynamic catering services to in-demand short-term rentals. Yet despite their outsized growth (Black-owned accommodation and food businesses jumped 45% between 2020 and 2023 and Latino-owned grew 35%), these founders often pay up to 20% more for bulk supplies and face steeper hurdles from inflation and supply-chain instability. At POCIT, we celebrate and empower these leaders. Here’s how Walmart Business equips Black and Hispanic hospitality founders to protect their time,
The Future African Space Explorer’s STEM Academy (FASESA) and Boeing have announced the launch of the second edition of the “Pathways to Space” program in Africa. The program returned to Ethiopia and Nigeria and was launched for the first time in Kenya on May 6, reaching up to 300 state school students aged 13-18. It works with local educational and government institutions in Ethiopia, Kenya, and Nigeria. “We are proud to continue our partnership with Boeing. This program reflects our shared dedication to building Africa’s future workforce in space and other
Three Nigerian students from Caleb University have built an app to detect ripe Fruit. Harmony Abayomi, Frida Efod, and Chibuzor Nwachukwu have developed Valor, an AI-powered app designed to detect fruit ripeness, as BBC Africa stated. The Hackathon Abayomi, Efod, and Nwachukwu recently represented the Computer Science, Cybersecurity, and Software Engineering departments and took first place at Bell’s University Hackathon with their app, Valor. Writing on LinkedIn, Abayomi said, “My team from Caleb University took home the top prize with our web and mobile app, Valor. Our app uses the
Samuel George, Ghana’s minister for communication, digital technology, and innovations, has given Starlink one month to comply with national regulations. The satellite internet service has been operating in Ghana since August 2024. However, it does not have a physical office or customer support system, and the government wants that to change, as stated by Connecting Africa. Starlink in Ghana “Starlink must establish a local office in Ghana to ensure effective communication and decision-making,” George said. “Starlink must comply with Ghana’s regulatory framework, including licensing and tax requirements,” he added. The
MoviePass, a Black-owned subscription-based movie ticketing service, has secured a $100 million capital commitment from Global Emerging Markets’ Token Fund to expand its new fantasy gaming platform, Mogul. The game, which launched this month, is currently in beta mode. Mogul allows players to predict box office results, per-screen averages, and awards successes for films, all while taking the role of a studio executive. Users can also compete in tournaments, head-to-head matchups, or play solo. MoviePass says it’s similar to a fantasy sports league, according to Variety. Who can play Mogul?
Join our Patreon for extra-long episodes and ad-free content. Techish hosts Abadesi and Michael switch things up this week with some juicy AITA scenarios. They unpack turning down a big tech job handed to you through family connections, saying no to bankrolling your brother’s startup, and getting a little petty post-layoff. They dive into privilege, responsibility, and the messy mix of family and money. Chapters 00:17 Turning Down a Big Tech Job Because of Nepotism08:29 Saying No to Your Brother’s Startup Dreams 18:30 Refusing to Help Your Boss After They
The Sidemen, Europe’s largest YouTube collective, has co-founded Upside, a venture capital firm backing consumer tech startups. The group, which includes KSI, Miniminter, Zerkaa, TBJZL, Behzinga, Vikkstar123, and W2S, has amassed over 50 million followers and 50 billion views across all social media channels. The Sidemen’s new venture As stated by The Times, they’ve launched Upside VC, using some of their own mone, and have made 12 investments between £100,000 ($ 133,700) and £500,000 ($666,880) in companies, including Howbout, Mile, and Nimbi. Companies supported by Upside will not only get finance
Google has agreed to pay $50 million in a racial bias lawsuit against Black staff workers. On Thursday evening, a preliminary settlement covering over 4,000 Google employees in California and New York was filed in Oakland, California federal court, which requires a judge’s approval, according to Reuters. The lawsuit In 2022, the plaintiff, April Curley, proposed a class action lawsuit from the California Civil Rights Department, stating that management gave opportunities only for lower-ranked roles, paid them less, gave them lower performance ratings, and stopped them from opportunities for development
