Welcome to another edition of 'This Week in Tech', your weekly dose of local and global tech news rounded up to save you the trouble. Keep reading to find out what's been happening!
Nigerian Start-ups Wellahealth and FlexFinance Selected for Catalyst Fund Accelerator
Two Nigerian start-ups - Wellahealth and FlexFinance - have been selected to take part in the Catalyst Fund Accelerator. The initiative which has 6 participants in total and was initially founded in 2016 with the help of the Bill and Melinda Gates Foundation and JP Morgan Chase & co, is an accelerator that focuses on inclusive fintech start-ups. The participants will receive 80,000 pounds in grant capital along with building support for 6 months. The Nigerian winners are both nascent startups; FlexFinance is a tool that enables small and micro-sized businesses to scale their operations digitally, while Wellahealth is a health tech company focused on making healthcare more affordable in Nigeria.
Ingressive Capital Fund Rises to $10 Million
Ingressive Capital, a Nigerian venture capital firm has recently reached a new close of $10 Million. With this round, the fund welcomes new investors like Nigeria Sovereign Investment Authority (NSIA), Platform Capital and Plexo Capital. The fund is focused on financing African tech start-ups and since its launch in 2015 has been instrumental in the African tech space. Some of its notable recipients include Nigerian fintech start-up Paystack, health tech startup 54Gene, Jetstream, Fuelmetrics, and FunnelJoy. With the new fund injection, the firm aims to invest in more tech startups.
Slack Introduces Slack Connect
Business communication platform Slack is rolling out a new feature that might make business emails obsolete altogether. Slack connect is a feature designed to further the existing shared channels feature that allows different companies to collaborate in a single space. With the new feature, this simple concept will be extended to company communications with just about everyone not just within the organization. The idea is to facilitate instant messaging between businesses, not just between people that work in said businesses. Nando’s for example has been using Slack Connect to communicate with its delivery partner Deliveroo and likewise Fastly, a cloud computing company, is using the feature for customer support.
Sony Ready to Pay up to $50,000 to Researchers Who Can Find bugs in the PS4
Sony has made its bug bounty program public as it looks to find vulnerabilities in the PS4 and Playstation Network. In a statement released as a blogpost, senior software engineer Geoff Norton explained that although the bug bounty program has been run privately in the past, the company recognizes the value of the research community in enhancing security and that is what brought about the decision to make it public. Researchers locating bugs on the Playstation Network can now earn anything between $100 to $3000 depending on the severity of the vulnerability found, and likewise can earn upwards of $500 for low severity vulnerabilities and up to $50,000 for critical ones in the PS4