Tech Startup Project Scores $5m

Jul 27 , 2019


iCog Labs Software Consultancy, in partnership with Kudu Ventures, has launched a programme that will work toward assisting and accelerating tech startup ventures. The first programme, which will be started in September 2019, will take a year and a half and aim to work with 18 startups. Five of the startup ventures will get three months of training, after which follow-up activities will be carried out. Getnet Aseffa, CEO of iCog Labs, and Noel Daniel, co-founder and managing partner of Kudu Ventures, signed the agreement at the end of last week. Kudu Ventures allocated 100 million Br for startups, of which five million Birr will go to iCog Labs to support this year’s acceleration program. iCog will provide technical and operational support, while the Ministry of Innovation & Technology will provide an incubation centre, according to Betelhem Dessie, project manager of iCog. “The selection process will target university students with the highest scores and individuals with innovative ideas,” said Betelhem. Once the startups start making profits, they will be sharing 20pc of the profit with iCog and Kudu.


Radar

Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Radar

Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Radar

Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...


Back
WhatsApp
Telegram
Email