[Varo Money in Black Chronicle] 3 Tips for Saving Money at Age 40

For the perfect alternative to earn a excessive return, take a look at the Varo Savings Account. The all-mobile financial institution gives a uniquely tiered APY program that encourages clients to save lots of extra, and it has two financial savings applications that robotically switch cash out of your Varo checking account to your financial savings account.

Read more here.

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Naira falls at black market, violence erupts across the country from #EndSARS protests – Nairametrics

Naira falls at black market, violence erupts across the country from #EndSARS protests  Nairametrics
“nigeria startups when:7d” – Google News

Naira remains stable at black market, dollar supply up by 1183% despite curfew – Nairametrics

Naira remains stable at black market, dollar supply up by 1183% despite curfew  Nairametrics
“nigeria startups when:7d” – Google News

Save on the Latest Tech During Dell’s Black Friday Sneak Peek Sale

Save on the very latest tech during Dell‘s Black Friday Sneak Peek! StartupNation members can save up to 45 percent off with your exclusive member savings now through Monday, Nov. 2.

Visit www.Dell.com/StartupNation or call in today to speak with a Small Business Advisor at 800-757-8442.

Steps for online saving

  1. Visit www.Dell.com/StartupNation
  2. Click “Get Coupon”
  3. Receive coupon by email and apply in cart
  4. Shop small business and startup deals HERE

StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here

Savings for StartupNation members

  • Save an extra 5 percent on XPS
  • Save an extra 5 percent on Latitude, Precision, OptiPlex
  • Save an extra 5 percent on Dell-branded accessories, such as monitors and more
  •  Save an extra 5 percent on PowerEdge Servers

Dell’s Black Friday Sneak Peek sale runs Monday, Oct 19 through Monday, Nov. 2.

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Stripe Acquires Nigeria’s Paystack For $200 Million For Expansion Across The Continent – Black Enterprise

Stripe Acquires Nigeria’s Paystack For $ 200 Million For Expansion Across The Continent  Black Enterprise
“nigeria startups when:7d” – Google News

Brazil’s Black Silicon Valley could be an epicenter of innovation in Latin America

Over the last five years, Brazil has witnessed a startup boom.

The main startups hubs in the country have traditionally been São Paulo and Belo Horizonte, but now a new wave of cities are building their own thriving local startup ecosystems, including Recife with Porto Digital hub and Florianópolis with Acate. More recently, a “Black Silicon Valley” is beginning to take shape in Salvador da Bahia.

While finance and media are typically concentrated in São Paulo and Rio de Janeiro, Salvador, a city of three million in the state of Bahia, is considered one of Brazil’s cultural capitals.

With an 84% Afro-Brazilian population, there are deep, rich and visible roots of Africa in the city’s history, music, cuisine and culture. The state of Bahia is almost the size of France and has 15 million people. Bahia’s creative legacy is quite clear, given that almost all the big Brazilian cultural patrimonies have their roots here, from samba and capoeira to various regional delicacies.

Many people are unaware that Brazil has the largest Black population in any country outside of Africa. Like counterparts in the U.S. and across the Americas, Afro-Brazilians have long struggled for socio-economic equity. As with counterparts in the United States, Brazil’s Black founders have less access to capital.

According to research by professor Marcelo Paixão for the Inter-American Development Bank, Afro-Brazilians are three times more likely to have their credit denied than their white counterparts. Afro-Brazilians also have over twice the poverty rates of white Brazilians and only a handful of Afro-Brazilians have held legislative positions, despite comprising more than 50% of the population. Not to mention, they make up less than 5% of the top level of the top 500 companies. Compared with countries like the United States or the United Kingdom, the racial funding gap is even more stark as more than 50% of  Brazil’s population is classified as Afro-Brazilian.

Bahia could be an epicenter of innovation in Latin America

Salvador (Bahia’s capital) is the natural birthplace of Brazil’s Black Silicon Valley, which largely centers around a local ecosystem hub, Vale do Dendê.

Vale do Dendê coordinates with local startups, investors and government agencies to support entrepreneurship and innovation and runs startup acceleration programs specifically focusing on supporting Afro-Brazilian founders. The Vale do Dendê Accelerator organization has already been in the spotlight at international and national publications because of its innovative work in bringing startup and tech education from mainstream to traditionally underserved communities.

In almost three years, the accelerator has supported 90 companies directly that cut across various industries, with high representation from the creative and social impact sectors. Almost all of the companies have achieved double-digit growth and various companies have gone on to raise further funding or corporate backing. One of the first portfolio companies, TrazFavela, a delivery app that focuses on linking customers and goods from traditionally marginalized communities, was supported by the accelerator in 2019. Despite the lockdown, the business grew 230% between the period of March and May after incubation and recently signed an agreement for further support and investment from Google Brasil.

There is a clear recognition of the business case for Afro-Brazilian businesses. Another company supported in the beginning with mentoring by Vale do Dendê is Diaspora Black (which focuses on Black culture in the tourism sectors). It attracted backing from Facebook Brasil and grew 770% in 2020.

The same is true for AfroSaúde, a health tech company focused on low-income communities with a new service to prevent COVID-19 in favelas (urban slums, which incidentally have high Black representation). The app now has more than 1,000 Black health professionals on its platform, creating jobs while addressing a health crisis that had been tremendously racialized.

We’re at the brink of a renaissance here in Bahia

Despite Brazil’s challenging economic situation, large national and global companies and investors are taking notice of this startup boom. Major IT company Qintess has come on board as a major sponsor to help Salvador become the leading Black tech hub in Latin America.

The company announced an investment of around 10 million reais (nearly $ 2 million USD) over the next five years in Black startups, including a collaboration with Vale do Dendê to train around 2,000 people in tech and accelerate more than 500 startups led by Black founders. Also, in September, Google launched a 5 million reais (around $ 1 million USD) Black Founders Fund with the support of Vale do Dendê to boost the Afro-Brazilian startup ecosystem.

There is no doubt that the new wave of innovation will come from the emerging markets, and the African Diaspora can play an important role. With the world’s largest African diaspora population in the hemisphere, Brazil can be a major leader on this. Vale do Dendê is keen to build partnerships to make Brazil and Latin America a more representative startup and creative economy ecosystem.

Startups – TechCrunch

London Business School and LocalGlobe launch “Newton Venture Program”, a new VC course aimed at female, Black, and minority candidates

It’s 2020, and the pitch room is inaccessible to minorities, Black, and People of Color. The glaring inequalities in the VC field are out in public for several years, and the initiative to get rid of this issue is well underway. 

According to Diversity.VC in 2019, just 30% of those working in venture capital were women. The British Business Bank found in 2019 that less than 1p of every £1 of venture capital spent in the UK went to all-female founding teams. 

As per Atomico’s respected State of European Tech report, just 0.9% of founders in Europe are Black. The Chartered Institute for IT records in 2019 that there were 268,000 Black, Asian, and minority ethnic (BAME) IT specialists in the UK, accounting for 18% of IT workers, a number that has increased by 2% over the past five years from 16% in 2015). 

Newton Venture Program

In an attempt to address all these shortcomings and shortage of formal training for careers in VC, London Business School, and top European seed investor LocalGlobe have devised two programmes designed to provide formal business education for roles across the venture capital sector.

Called the Newton Venture Program, the course covers the full spectrum in the venture ecosystem right from VC investors to Limited Partners, angel investors, accelerators, and tech transfer officers. This programme aims at getting more underrepresented groups (mostly women, Black, and minority candidates) into the sector.

In a bid to make it more diverse and equally representative, cohorts will target a gender split of 50/50, with at least 50% coming from BAME backgrounds. 

Price, scholarships, and more

Prices start from £2,050 (approx €2,260) for the online programme, and around £16,000 (approx €18,000) for the on-campus programme at London Business School, which consists of several modules throughout the year. Scholarships of up to 100% are available for both programmes.

Backed by a grant from Research England, a part of UKRI, Newton is inviting additional support from funding partners across the VC ecosystem. Notably, LocalGlobe and Phoenix Court Works are committed to sponsoring 20 digital scholarships.

What to expect?

The programme will give cohorts direct access to experts from top-performing global VC firms (such as a16z, Benchmark, USV, and others) and experienced entrepreneurs and their founding teams. Leading academic authorities on the VC industry — for example Luisa Alemany, Julian Birkinshaw, Gary Dushnitsky, and Florin Vasvari — will teach key concepts, lead case-study discussions, and share their latest research insights with participants.

On top of that, cohorts will also learn subjects, including how to source and win deals, venture financial and legal, fund management, and how to support portfolio companies. Students will also be able to take part in industry roundtables, local city meetups and become part of the Newton Alumni network. 


However, the on-campus programme aims at those with five to 15 years of overall work experience. It will include participants who are already investors as well as those with strong operational backgrounds looking to become investors.

The syllabus will include time spent at sponsoring VC firms, experience with top-tier venture capital investors and limited partners, work with tech transfer offices, accelerator offices, and other partners and sponsors. Each participant will benefit from one-to-one mentoring and complete deep-dive modules covering specific industries and technologies, from fintech to AI.

Starts from April 2021

There will be two cohorts a year, of up to 60 students, with the first online programme set to start in April 2021. The first on-campus cohort will start in October 2021. Applicants are welcome to apply from anywhere around the world; the majority are expected to be from the UK, the EU, Africa, and Israel.

Main image credits: Localglobe

Startups – Silicon Canals

Covid-19: black swan event, black swan innovation

Conversations and media reports about the Coronavirus pandemic usually go hand-in-hand with the word ‘unprecedented’. It got me thinking about Black Swan events. 

The 2nd-century Roman poet Juvenal is the first to use the phrase in his Satire, writing about something that was “as rare as a Black Swan.” It has been picked up more recently by mathematics scholar Nassim Nicholas Taleb, in his 2010 book The Black Swan: the impact of the highly improbable.

He uses the term ‘Black Swan’ to explain the disproportionate role of high-profile, hard-to-predict events. Whether the Coronavirus pandemic has been a true Black Swan event is open to debate. We’ve had virus pandemics before, and there’s some suggestion that academics and the media picked up on the virus when it first struck the city of Wuhan in 2019. 

However, the rapid impact, the speed at which the virus spread across the world, global lockdowns imposed by governments, a freeze on international travel, social distancing measures, and huge economic pressures on business are things we’ve not seen much of in recent decades following a virus outbreak.

Health crisis and black swan innovation 

What I am convinced of is the Black Swan nature of the response to the pandemic, by individuals and businesses alike. The innovation which followed was unexpected, giving a new meaning to businesses pivoting, driven by necessity. 

Who could have predicted that firms like Dyson, Ford, Airbus, Mercedes F1, and McLaren would step forward to create much-needed ventilators for sick patients in hospital. 

Canada Goose, Ralph Lauren, Prada, Louis Vuitton, and Armani turned their skill and resources to produce face masks and gowns for healthcare staff. Fast food companies and taxi services offered services free of charge to support key workers. 

We’re also now reading about how specialists in the fields of data, AI, quantum computing, and medicine are collaborating to find a vaccine for Covid-19 – not the use case anyone would have predicted. 

Economic crisis and black swan innovation 

The economic crisis caused by the pandemic was sudden and serious. Business revenue dropped off a cliff. Companies quickly decided to withhold or delay payment to suppliers and landlords. Millions of employees have been furloughed, and daily, we read of big businesses making huge swaths of redundancies. Bankruptcy has hit big and small businesses alike. The saying, “cash is king” has never been more real. 

The economic crisis has likewise required innovation. At Sidetrade, we have 20 years’ experience in the field of B2B payments, and use big data and machine learning in our platforms, to help businesses enhance their customer relationships and optimise their cash collection. 

When the pandemic hit, we too looked to innovate. Firstly, we launched a special offer called CashControl. We took our enterprise accounts receivable platform (Augmented Cash) and transformed it into a platform useful for SMEs who needed to collect invoice money, create payment plans for struggling customers, and give new tech tools to staff working from home for the first time. 

The other piece of innovation came in the form of the Sidetrade Unpaid Invoice Tracker. Our R&D and data science teams based in England and France quickly created a unique tracker of B2B payment across six European countries: France, Belgium, Italy, Spain, the UK, and the Netherlands.

We took over 26 million overdue invoices from 4 million businesses, allowing us to create a weekly tracker which shows the rise and fall in late payment for each country, and across 12 business sectors. 

These insights have given the worlds of government, business, and media an up-to-date, macro indicator into the economic consequences of the pandemic. 

Countries and sectors are recovering at different speeds, and we might see unexpected changes again in the coming months, as government support schemes comes to an end. Individual businesses will also recover at different rates, and could look quite different post-pandemic. 

The evidence from the likes of Boston Consulting Group suggests that companies who ramp up investment in innovation during a downturn – such as a financial crisis or pandemic – outperform their competitors over the long term. It might sound counter-intuitive, but strategic investment in innovation can put a business in a strong position as it emerges from a downturn, while competitors fold. The demands of the market require new products, services, speed, and delivery. 

Going forward, businesses therefore need to make digitalisation a more urgent priority. SaaS providers, data and AI are helping employees to do their jobs in the face of sudden disruption. Technology is taking on large-scale, repetitive tasks, and providing recommendations and predictions to enhance workload and customer relationships. A ‘digital first’ approach will make business processes faster, predictive, and more efficient. 

A survey of CFOs carried out in May 2020 by PwC, found that 48% will accelerate automation and new ways of working. Similarly, a study by Gartner found that CFOs plan to maintain, rather than cut, investment in technologies such as AI, automation, and analytics. 24% plan to invest more in RPA, workflow automation, and cloud-based ERP technologies (20%).

The challenge now, is to harness the latest generation of urgently needed innovation to be ready for the demands and opportunities of the market. This will indeed be a deciding factor for business survival and growth. 

Image credits: Hunyadi Marton/Shutterstock

Guest post by Mark Sheldon, CTO of France-based AI firm Sidetrade

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Startups – Silicon Canals

[Kenna Security in GlobeNewswire] Kenna Security Delivers Risk-Based Vulnerability Management for New VMware Carbon Black Cloud Workload Solution

Kenna Security, the enterprise leader in risk-based vulnerability management, and VMware Carbon Black, a leader in cloud-native next-generation endpoint security, are partnering to power the vulnerability assessment and risk scoring capabilities of Carbon Black Cloud WorkloadTM. As a result of this partnership, enterprises running VMware Carbon Black Cloud Workload will be able to efficiently and effectively prioritize critical vulnerabilities and reduce risk to their servers and workloads.

Read more here.

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OurCrowd Blog