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The Lessons from Bayh-Dole Act for Africa’s Economic Development

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The Bayh-Dole Act is arguably the most important business legislation of the last few decades in the United States. It made it possible for government-funded research to be commercialized by individuals and entities. In other words, in the past, after great discoveries, only government entities were expected to commercialize the outcomes. But when this Act came,  the researchers could under license take those outcomes to the market.

Without Bayh-Dole, there will be no Google, Akamai and a host of many companies, which began life in university labs, funded by the US government.

For Africa, our challenge is not just doing quality research. But also, finding a mechanism to commercialize the little we have done. The US reduced the barriers, and companies can go to US patent libraries, discover great ideas and then push to commercialize them. The outcome: you do not leave great ideas on shelves; you take them to markets where people and companies can buy products created out of them. My PhD thesis was a beneficiary as the US government saw it, and paid to use the idea out of it.

Indeed, Africa can learn from the Bayh-Dole Act especially now the nations are trying to emerge from the most devastating global recession since the Second World War, with policymakers, business communities, academia, and governments looking at ways to accelerate growth and competitiveness.  Governments matter and a single legislation could have impacts that can redesign a nation’s economic destiny. Globalization makes it necessary that nations must compete not just on technologies, but on policies upon which those technologies are developed and commercialized. It is the policy that makes it possible that two universities in two separate countries can develop similar technologies with one creating Fortune 500 companies within a decade and another having the idea locked up in a cabinet. So the policies or legislations made by our parliaments on what happens to inventions funded with public money matter.

What Africa Can Learn from Bayh-Dole Act

Comment on Feed

Comment 1: I did a quick Google search after reading this and found out that the Nigerian government approved N4.7b research grant for academics.
Do you have any idea if the academicians or affiliated institutions can commercialise their works?

My ResponseSince Nigeria has no system, any professor can commercialize government-funded research provided you are not very successful in the market. But if that idea becomes very successful, and it can be linked to a government grant, you may have a legal matter to deal with in that university/government. 

I will not fund any professor’s idea, coming out of a government grant, unless we see a written document from the minister of science/tech (for federal) or commissioner (for state school), granting rights as appropriate, in Nigeria. But in South Africa, I do not have that problem as they’ve created an equivalent and unambiguous Bayh-Dole clone which removes any future expropriation  risk.

Teaching English to Young Learners: Tips and Strategies

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In a time when many people are delighted to be working from home, others choose to leave their comfort zone behind and explore new horizons teaching English as a foreign language (TEFL) abroad. If you are one of those who have recently obtained your TEFL certificate, congratulations! It is a huge achievement that will certainly help you take the first steps in your teaching career. In time, you might decide to focus on one area of TEFL, like teaching exam preparation classes, business or academic English, or specific age groups.

You probably already know whether you have an interest in teaching young learners or not, and you might be aware of the fact that teaching children is very different from teaching adults. More specifically, it requires strong classroom management skills. If this is your first experience teaching young learners, however, it might feel daunting and intimidating. Let’s see how you can set yourself up for success.

Establish classroom rules 

Setting up rules for young pupils from the beginning of the course is necessary for children to know what is expected of them. If you are worried about giving them the impression of being too bossy, set up a group activity that will allow them to come up with their own rules for themselves and the teacher. Get each group to present their ideas and discuss them together.

Establishing their own rules as a class makes it more likely that children will stick to them. Adding a few rules for the teacher too would make them appreciate you even more. Try to keep the rules positive and remember to review them regularly, especially when a new student joins the class. Some students’ rules could be:

  • Raise your hand when you want to speak
  • Wait for your turn to speak
  • Listen when others are talking
  • Give back what you borrow

For the teacher, here are some ideas:

  • Give a small amount of homework
  • Mark and give back homework quickly
  • Let students choose the lesson topic once a week

Key words: variety and flexibility 

Although most children like to have a classroom routine, nobody likes repetitive lessons. To keep your students engaged and involved, mix things up with games and songs. Try to include different types of activities, changing from quiet and individual tasks, like listening or drawing, to activities that allow children to move around and be loud. In this way, there shouldn’t be any unexpected outbursts of energy, and their excitement will be concentrated in specific parts of the lesson.

Country-specific teaching tips 

Your teaching style, lesson plans and materials are heavily affected by the country in which you work. Cultural differences and the local education system can have a huge impact on how you deliver your lessons and on how your learners experience the classroom environment.

Let’s take teaching in South Korea as an example. There, young learners are considered to be between the age of 5 and 12, when they finish primary school. Although South Korean children don’t start learning English at school until they are 8 years old, many parents enrol their children in English language learning programmes in private schools – hagwons – from the age of 5.

Many private schools across the globe rely heavily on coursebooks. For young learners, these books are mainly story/picture books. Although they are extremely helpful for teachers and students, their images often exclusively represent western culture. This could cause confusion among young learners who are in the process of making sense of their own culture. It is therefore advised that teachers implement some adaptations during their lessons using additional pictures showing South Korean individuals and culture.

Lessons for young learners should be fun

One way of having more fun in the classroom is to turn the lesson into a song. From vocabulary to grammar, anything could fit in a song, as long as it is connected to the learning objectives of your lessons. When choosing a song, you should always keep in mind the age and the language level of your learners, as well as their culture and traditions. Remember to include the song in your lesson by introducing the topic first, and present the target language you want your students to focus on. Last but not least, don’t forget the technical aspect of playing the song in the classroom – do you have access to YouTube?

As well as using pictures, another way to keep your young learners engaged is to use realia – real objects – particularly useful to teach vocabulary. This can work very well especially when new words are smoothly integrated into everyday dialogues.

Games are always a winner with children, but be careful – it is easy to fall into the trap of using games just to fill up the last five minutes of your lesson. Instead, choose what game would work best and include it in your lesson at the planning stage. In this way, not only will the game be fun, but it will promote learning. You might find that your students prefer one game to another. If that’s the case, don’t feel that you have to use a different game every time: find ways of adapting their favourite game to suit your lessons.

Mindless repetition can bore even the most enthusiastic of learners. However, repetition is one of the best ways to memorise new language items. Rehearsing role-plays are a clever way to get students to repeat the target language multiple times while they pretend to be actors! Get their creativity going by making up costumes for their role-plays using scarves and build glasses and crowns using cardboard boxes.

Ready to teach young learners?

Teaching young  learners can be an exciting experience that needs to be carefully planned. From songs to games, from role-plays to arts and crafts, you can let your creativity go wild when teaching young learners wherever you are in the world. If you are in the process of choosing your first (or next!) teaching destination, take a look at this article about teaching English in South Korea salary information.

Again, CBN Shares Guide on How Lodge Complaints Against Financial Institution

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Despite regulatory efforts by the Central Bank of Nigeria (CBN) to sanitize the banking industry, curtailing cases of fraud – arbitrary charges and unresolved customer complaints, cases of unreversed ATM-trapped funds and money disappearing from customers’ accounts persist.

The situation is exacerbated by the insouciant attitude of financial institutions when they receive such complaints from depositors, leaving the victims with limited choice of suing the responsible financial company or losing their money.

In view of this, the CBN on Friday last week released a guide on how depositors can lodge a complaint against financial institutions such as Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Primary Mortgage Institutions (PMBs) and Merchant banks, under its regulation.

In 2021, in an attempt to curtail the banks’ lackluster approach to cases of ATM dispense error, the central bank initiated a policy under Consumer Protection Regulation, to fine guilty banks N10,000 for every failed transaction not reversed within 24 hours. But that did not change much as most banks’ customers don’t know how to escalate the matter to the CBN.

Early last year, the central bank issued a guideline on how customers affected by any of the shortcomings could file a complaint. Notwithstanding, as reports of banking fraud and other shortfalls liter social media daily, the CBN has deemed it necessary to remind the public of what to do when they have a complaint against their banks.

Contact your institution first

Consequently, if you have a complaint against your bank, you must first report the complaint at the bank/branch where the issue originated and then allow two weeks (it might be less or more in some cases) for the issues to be resolved.

If your bank fails to resolve your complaint

You have the right to escalate your complaint to the Director, Consumer Protection Department (CPD) of the CBN after lodging your complaint, when your bank fails to acknowledge within three days or issue a tracking number, or fails to resolve the complaint within the timelines as stipulated by the Consumer Protection Regulation (CPR).

Complaints to Consumer Protection Department

You can only direct your Complaints to CPD upon the failure of your Bank/ Financial Institution to resolve your complaint within the timeline stipulated by the Consumer Protection Regulation (CPR).

Contacting Consumer Protection Department (CPD)

You can contact the CPD through the following channels: cpd@cbn.gov.ng, letter to the director, Consumer Protection Department Garki, Abuja.

Your letter of Complaint should be addressed to the director, Consumer Protection Department. You can submit your letter at the CBN head office or at any of the CBN branches nationwide.

The CBN deals with all financial related complaints insofar as it is against a Financial Institution within its regulatory purview.

ZKSYNC launches Alpha Mainnet ‘Era’ in Hope of possible Airdrop; Lucrative Strategy of Crypto Airdrops

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ZKSync, an Ethereum layer-2 scaling solution, debuts its alpha mainnet to reduce congestion and improve transaction throughput.

The ethereum ecosystem witnesses a significant development as the alpha mainnet of ZKSync, a Layer 2 scaling solution, is officially launched. ZKSync aims to alleviate network congestion and bolster transaction throughput on ethereum by employing zero-knowledge proofs, a cryptographic technique that ensures transaction privacy.

Ethereum’s blockchain has encountered several obstacles concerning its ability to scale and elevated transaction costs, which have become more pronounced due to the increasing adoption of DeFi and NFTs. In response to these challenges, Layer 2 solutions like ZKSYNC have emerged to improve the network’s performance and overall efficiency.

ZKSync’s alpha mainnet release marks an important milestone in the roadmap. The launch showcases the successful integration of the first version of zkEVM, a zero-knowledge EVM (Ethereum Virtual Machine) compatible engine. This compatibility allows developers to deploy their ethereum smart contracts on ZKSync without making significant changes to the code. As a result, ZKSync aims to offer seamless adoption for existing projects within the ethereum ecosystem.

Cryptography is the most important technology protecting the world’s freedom today — because it’s the only protection that a single individual can have against mighty adversaries. Cryptography led to permissionless blockchains which made radical self-sovereignty possible for anyone, for the first time in history.

There’s one big caveat: not everyone can access it yet.

The innate values of crypto will only succeed with its mass adoption; when blockchains meet the demands of millions of users. But trustlessness — the very same thing that makes blockchains so valuable — makes them very hard to scale. The principle “don’t trust, verify” means that every node must verify every single transaction on the network.

But how can a single server possibly verify all of the transactions on the Internet? Turns out it can — with some magic. Enter succinct zero-knowledge (ZK) proofs: the only protocol capable of enforcing the integrity of arbitrarily large computations, verifiable by anyone with no more than the power of a smartphone, ZKSYNC wrote in a medium post.

The project team behind ZKSync has expressed their confidence in the technology’s potential to scale ethereum transactions, emphasizing that the alpha mainnet launch is just the beginning. The future development plans include introducing more features, tools, and services to support developers and users while further improving the network’s scalability and security.

Several prominent players in the ethereum community, such as Aave and Curve, have already shown interest in adopting ZKSync to boost their platforms’ performance. This integration promises a more efficient, secure, and cost-effective environment for Ethereum-based projects, reducing barriers to entry for developers and users alike.

Launching ZKSync’s alpha mainnet is a significant step towards solving ethereum’s scalability issues. As the technology continues to evolve and gain adoptions, ethereum’s network capacity and efficiency are expected to improve, making it a more attractive option for various decentralized applications and use cases.

Positioning for Crypto Airdrops Is a Lucrative Strategy

Airdrop is one of the most lucrative ways of making a profit in the Crypto space. However, it is crucial to be aware of risks such as interacting with suspicious smart contracts and hacks.

Airdrop is the distribution of free crypto tokens or coins to digital wallets of people to promote a project. It is in fact one of the most commonly used marketing strategies used by crypto companies or smaller crypto projects to quickly gain community attention.

An airdrop helps a crypto project gain attention and makes people trade the token after its initial coin offering (ICO). Users can drop a request to receive tokens in the airdrop after following instructions on the company’s social media accounts, websites, online forums, etc.

Users will receive tokens or coins in their wallets on the scheduled date of the airdrop. Sometimes, users must hold a minimum quantity of tokens in their wallets to be eligible for the airdrop. In addition, eligibility may also depend on the completion of certain tasks. It may include posting on social media channels, writing a blog post, and connecting to an influencer.

Some of the most successful airdrops include an airdrop by El Salvador to promote Bitcoin adoption after the country made it a legal tender. Anyone who installed the government-built wallet received $30 worth of BTC.

Other successful airdrops include Uniswap (UNI), Shiba Inu (SHIB), ApeCoin (APE), Stellar Lumens (XLM), and Bitcoin Cash (BCH). Prominent in 2021 was the ENS airdrop for only registering a custom ethereum domain name. Aptos, Samo in 2022 and Blur, Arbitrum ARB in the first quarter of 2023 with users benefiting turns of returns with literally just participating on chain tasks.

Position for ZKSYNC, SUI Blockchain, LayerZero Chain, Shardeum and a few others who might at the long run issue out a governance token hence airdrop to the community.

Amazon Web Services (AWS) opens applications for its inaugural FinTech Africa Accelerator

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Tekedia Capital is a member of Amazon AWS Partner. We offer AWS credits up to $25k and soon $100k to startups we invest in. Amazon just opened a fintech accelerator; please apply. AWS makes visions come to reality. We’re proud of the support and partnership Tekedia Capital has had with Amazon for years now. We have dedicated Amazon engineers, business analysts, etc who can support Tekedia Capital portfolio firms. Amazon is extending those goodies in this new program below.

Amazon Web Services (AWS), the cloud computing division for the world’s largest e-commerce retailer, Amazon, continues to strengthen its footprint in Africa with a call-for-applications from early-stage startups to join their inaugural edition of the AWS FinTech Africa Accelerator

This program is hosted by AWS’ globally-recognized Startup Loft Accelerator, but unlike other cohorts, this edition will focus on fintech and fintech-adjacent startups operating in Africa. In 2022, fintech startups in Africa raised over $2B USD in venture funding, sustaining Africa’s fintech industry as the top recipient of venture funding on the continent for the past several years (according to Briter Bridges). 

The US-headquartered cloud service provider (CSP) has had a long-history of operations in Africa with its first office on the continent opening in 2004 when it opened a development center in South Africa. Since then, AWS has opened several offices and data centers as the company intends on being the predominant cloud service provider in Africa. 

The company announced its Africa region back in 2018 and launched its operations two years later in 2020. The AWS Africa Region is headquartered in Cape Town. AWS Regions operate through a series of Availability Zones, where a center is located in each zone and geographically separated enough that an issue at one center will not have an impact on the AWS system or its clients.  The Africa region is currently served by three AWS data centers with two of which in South Africa and the third in Nairobi, Kenya. 

AWS has plans to develop further across Africa to best service the needs of the continent’s rapidly expanding industry and data storage needs. 

The AWS FinTech Africa Accelerator is an equity-free program designed to work directly with CEO’s and CTO’s in enabling them with a wide variety of resources including strategy, tech team management, product development, and helping founders prepare for navigating the complexities of fundraising. 

Participating startups will join AWS’ Activate program which will provide founders with up to $25K USD in Activate Credits, in addition to a many other services. Founders will also take part in a series of industry expert-led workshops and one-on-one sessions designed to address the specific challenges and opportunities each startup faces. 

Applications open from now until April 27, 2023. All pre-seed and seed stage fintech startups operating in Africa are encouraged to apply