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Lagos set to host 8th edition of Nigeria Innovation Summit

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The city of Lagos will be agog as the eighth edition of the Nigeria Innovation Summit (NIS) will take centre stage at the prestigious Muson Centre from October 6.

The one-week NIS 2023 would provide a platform that “fosters collaboration between government agencies, businesses, international organisations, innovators, researchers, the academic community, and startups,” programme director Tony Ajah, said at a press conference on Friday.

“The 2023 Nigeria Innovation Summit, is one week event that brings together all the critical stakeholders in the innovation space in Nigeria and around the world to share insights on innovation management hot-topics.

“The latest edition of the annual NIS will focus on the theme ‘Innovating For The Future’, bringing together critical stakeholders from different sectors of the economy to discuss ground-breaking ideas, trends, opportunities, and numerous verticals to accelerate innovation and solutions that solve unique challenges within Nigeria and the African continent at large.

“It will provide opportunities for Nigerian innovators, researchers, and entrepreneurs to showcase innovative ideas, products and services with solutions for industrial applications, adoption, and commercialisation”, he added.

He also revealed that the summit would afford Nigerian techies the opportunity to leverage emerging technologies like artificial intelligence, machine learning, virtual and augmented reality, blockchain, Internet of Things, robotics, nanotechnology, geonomics, and data sciences, and apply them in critical sectors to solve local problems.

“The opportunities and new businesses provided and created by these new technologies are enormous, and we can’t afford to sleep on it as a people.

“As individuals, organisations, and nations around the world are exploring different playbooks to innovate and improve the quality of their lives, Nigeria should not be left out”, he said.

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Egyptian online auto parts startup Mtor raises $2.8m funding

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Egyptian online auto parts startup, Mtor, has announced raising $2.8 million in pre-seed funding to enable it expand its product portfolio to digitise local car workshops in the country.

Co-founder and CEO of the startup, Mohamed Maged, who made the announcement, explained that with the funds which were secured from Algebra Ventures with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and a number of local and global angel investors, the firm was set to expand its offering.

“With the new funds, we aim to become the most trusted partner for our mechanics by empowering them to better cater to the car owner’s needs in terms of quality parts and fast service,” Maged said.

“It can be a car owner’s nightmare to get their car serviced. Mtor was founded to fundamentally transform this reality and make the process easier and more efficient, empowering a layer of local car workshops that are well rounded with quality parts, a suitable price position, and a good customer experience.

“The local automotive aftermarket is inefficient with a fragmented and scattered supply chain. Workshops and mechanics face many challenges, including limited product availability, inaccurate fitment data, and a lack of price transparency.

“These issues inevitably trickle down to car owners, who are also faced with limited-service quality guarantees and a complex, time-consuming spare parts procurement process.

Mtor aims to overhaul this system through its controlled, tech-enabled marketplace, backed by its proprietary Mtor Mechanic app, where pricing, availability, and fitment data are reliably just a click away,” the CEO stated.

He added that the funds raised would be used to further grow Mtor’s product suite, digitise local car workshops, and eliminate major inefficiencies in the automotive spare parts supply chain in Egypt and the region.

Founded in 2022 by Maged, Moaz El-Megharbel, Mohamed Altaf, and Khaled Kandil, Mtor provides a unified platform for local car workshops and on-demand automotive spare parts at reasonable prices.

It has delivered over 70,000 orders, partnering with over 2,500 car workshops in the greater Cairo area, according to the company’s profile on its website.

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Kenya, Ghana, Senegal the pilots as YouTube Music launches in Africa

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International video sharing and social networking platform, YouTube, on Thursday announced the launch of YouTube Music and YouTube Premium with the pilot schemes taking off in Kenya, Ghana and Senegal.

Head of Music, Sub-Saharan Africa at YouTube, Addy Awofisayo, who made the announcement, said the new offerings would give subscribers something they had never experienced before.

He added that the expansion builds upon YouTube’s commitment to innovation and the exportation of culture, promising a more engaging and personalized experience for music and video enthusiasts in Africa.

“Music is a powerful force that can unite people beyond their geographical and language barriers; It brings joy and elevates the psyche.

“We’re excited to bring YouTube Music to Africa as this reinforces our commitment to provide individuals access to the music they love while exploring other interesting music preferences.”

Awofisayo further explains that YouTube Premium is all of YouTube and YouTube Music without interruptions.

“What this means is that subscribers will receive ad-free viewing, background play, and the ability to download videos for offline viewing.

“Additionally, Premium subscribers will automatically receive a premium version of YouTube Music, which enables them to listen to music offline and without ads on the standalone YouTube Music app.

“In addition to YouTube Music, YouTube Premium caters to our dedicated viewers by providing an enhanced viewing environment, empowering them to watch their favorite content seamlessly,” Awofisayo added.

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