Following the successes and impact of the first season of its research and mentorship-driven accelerator programme, Facebook Accelerator, Nigeria, Facebook has announced in partnership with Co-Creation Hub, the commencement of season two of its programme which is aimed at supporting and empowering students and entrepreneurs to build locally relevant solutions using advanced technology.

For the first time, applications for this year’s programme stretched beyond Nigeria, and included Ghanaian innovators. The final teams, made up of eight startups and four student teams, will be part of a six-month program which aims to aid innovative and visionary applicants in creating solutions with advanced technologies. The research and mentorship-driven program will provide the teams with access to product and industry experts, as well as deeper knowledge in how to optimize solutions which leverage technology such as Artificial Intelligence (AI), Internet of Things (IoT) Data Science, Augmented Reality (AR) and Virtual Reality (VR).

Like its first edition, this year’s bootcamp was held at Facebook’s flagship Community Hub space, NG_Hub. The student teams taking part will be provided with equity-free funding of $10,000, whilst the Startup teams will be provided with $20,000 in equity-free funding. Both teams will also have access to technical and business mentors from the Facebook and the CcHUB network as well as free working space at NG_Hub.

These are the teams selected into the 2019 cohort: 

Appruve: a financial data API, used by financial services to onboard and verify the identities of their customers in order to analyse transaction data from bank and mobile money account.

VNTS: VNTS is a consumer devices manufacturing and software/platforms company, actively innovating hardware solutions tailored to solve internet connectivity issues.

Chekkit: Chekkit eases asset tracking & consumer intelligence for food, beverage & pharmaceutical product producers/distributors through anti-counterfeit services by labelling products for smart and traceable authentications from the warehouse to final consumer.

Curacel: Curacel is an intelligent platform that fast tracks claims processing and detects fraudulent claims for health insurance companies.

Simbi Interactives: Simbi Interactives is an ed-tech startup that is solving the problem of poor education in Africa by making quality education available, affordable and accessible to all African students using maieutic learning.

Haulr: An IoT and AI-powered platform that tracks trucking operations in real-time to curb illegal hauling & theft of cargo, while boosting efficiency & communication among logistics stakeholders.

VMEDKIT: Vmedkit is a social enterprise with a mission to increase access to mental healthcare by leveraging Virtual Reality Exposure Therapy (VRET).

Gradely: Gradely is using analytics and data-driven recommendations to help schools and parents intervene in real-time to children’s learning gaps through weekly adaptive homework tests.

InventOne: InventOne is a platform that allows hardware engineers, enthusiasts and hobbyists build and deploy IoT solutions with little to no code written – via a graphical programming interface.

Mus-comm Spill-Sat: Spill-sat is an oil spill, gas leak and vandalization detection system. It uses a balloon satellite to collect aerial data that is processed and used to provide real-time analytics to oil companies.

G E S A L: GESAL uses visual learning to offer quality education at a low cost to secondary school students leveraging AR to visualize complicated diagrams in 3D and deploy virtual laboratory tools.

Vinsighte: Vinsighte computer vision and sonar technology to aid the visually impaired in navigating their environment independently and read books conveniently.

Souce: CCHub [Press Release]

On Sunday, Forever 21 joined the increasing list of retailers who have signed off in business as a result of ever growing oppression of e-commerce giants. Mainly, Amazon and Alibaba.

The 35 years old clothing retail company filed for bankruptcy in the face of overwhelming struggle to stay in business. Forever say it’s closing its 178 stores across the US.

The “fast-fashion” firm Forever 21 has filed for Chapter 11 bankruptcy protection. It wants to close up to 178 U.S. stores, though it does not want to leave any major markets in the country. If the plans go through, Forever 21 would mostly pull out of Asia and Europe, while continuing operations in Mexico and Latin America.

“We have requested approval to close up to 178 stores across the U.S. The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords.” The company said.

Forever 21’s bankruptcy filing adds its name to the growing list of retailers that have bitten the dust this year, including Barney’s, Payless Shoes, Gymboree, Sugarfina, Innovative Mattress Solutions and more. In Forever 21’s case, “fast fashion” these days seems to refer to how quickly fickle consumers abandon once popular brands, noted Fortune in a newsletter.

Forever 21 is operational in 57 countries and plans to shut down activities in most of its outlets in Asia and Europe. The company said it would close all 14 stores in Japan at the end of October.

The bankruptcy also affected its businesses in Canada. The company said it is taking down 44 stores in the country. Only Mexico and Latin America stores are allowed to function in the drastic decision.

The incessant dwindling in sales despite some financial backing suggests that the company needs a new approach. Forever 21, received $275 million in financing from its existing lenders with JPMorgan Chase Bank, N,A as agent. And there was another $75 million in new capital from TPG Sixth Street Partners.

More than 20 retailer shops have succumbed to the forces of online shopping giants since 2017, in the US alone. And the remnants are struggling to find their feet doing what they have always done.

Forever 21, believes the tradition is no longer sustainable, for the company to survive the intimidating threat of big e-commerce companies, it must do something differently.

Developing countries that are providing lifelines to retailers because of their conventional shopping pattern have been, recently, implementing cashless policies that will spur the e-commerce culture. Countries like Nigeria are gradually adapting, and retail shops are feeling the boom.

In developed countries where Amazon and Alibaba reign, many believe that the survival of retailers depends on expanding to countries where the e-commerce giants don’t exert much influence. And Africa stands in the center.

The cost of shipping is a deterrent to many would be buyers from Amazon, leaving retail stores as an alternative.

Therefore, the restructure that Forever 21 acknowledged it needs will only be effectual if they are thinking in the direction.