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When Startups Fail – What Happens. A Look Into Some .Gone

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When Cuil failed, workers were not paid.

 

PC Magazine reported that on the morning of September 17, 2010 “employees were told about Cuil’s demise […] and the servers were taken offline five hours later.”Laid-off employees were told they would not be paid. The shutdown reportedly came after an acquisition agreement fell through earlier in the week.

 

Power.com went .gone few days ago, but is hanging around to sell the only important technology they have created all these years – registering power.com domain. Visit their site and they are auctioning it.

 

Of course, there are many social media sites that fail daily across Africa. Just type some old domain names and many are gone.

 

Why this post?  We received an email of someone asking us the merit of dropping out of school and starting a company. We said Hell No – complete your education. Forget about the wonders of Bill Gates, Mark of Facebook, Larry of Oracle; in Africa, it does not work. Education is still the path to prosperity and opportunities. Even those that dropped, there are hundreds that get messed up for one that succeeded.

 

Money Everywhere, But Not a Coin To Work – The Challenge of Tech Startups in Africa

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It is not easy over here – in Lagos, Accra, Nairobi and other African cities for the tech startups. Finding capital is very difficult because the people with the money do not understand how to value or price assets that cannot be touched or seen. How do you create value for something that ‘does not exist’. It is tough to tell a real estate investor in Lagos that Facebook is worth $60b when the company does not even have many physical assets.

 

But good enough, these tech firms are figuring out how to manage – there are VC or private equity firms these days and some local angel investors. (Actis invested in Pagatech Nigeria). But the main thing now is investment club – that will be the major hope since banks have not caught the fever to help tech firms. Do not blame them – it is just risky to put money in these Internet firms in Africa. If you build a real estate in Lagos or Accra, you are sure of profit. But tech firm can go .gone.

 

Yet, there is an opportunity. The crash of the stock market shows many that anything can happen. But it has not made investors to move money to tech internet firms. It is still the old industrial age assets based firms. It works easily because those assets can be sold if things go very bad.

 

Yes, we must not lose hope. All that the tech firms should do is to form a development club and work together. Work in teams and forget the ego of I did it alone. That way, you can have synergies and chances of survival will improve.

PlayStation®Network Service Outage -Caused By ‘External Intrusion’. Problem Not Resolved

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Sony just explained (updated its site) that the outage on Playstation was caused by ‘external intrusion’. This is the blog content:

 

An external intrusion on our system has affected our PlayStation Network and Qriocity services. In order to conduct a thorough investigation and to verify the smooth and secure operation of our network services going forward, we turned off PlayStation Network & Qriocity services on the evening of Wednesday, April 20th. Providing quality entertainment services to our customers and partners is our utmost priority. We are doing all we can to resolve this situation quickly, and we once again thank you for your patience. We will continue to update you promptly as we have additional information to share.

 

Thank you very much for your patience while we work to resolve this matter.

 

During this time you may:

  • Not be able to access the PlayStation®Store
  • Have difficulty signing in to the PlayStation®Network
  • Not be able to play online games
  • See a maintenance page when attempting to access the PlayStation®Network

 

Note: When you log into the PlayStation Network, a message may appear which states, “the PlayStation Network has been suspended”.  This does not mean that your account has been suspended; it simply means the PlayStation Network has been taken offline.  Please wait until the maintenance window has passed before attempting to connect to the PlayStation Network again.  We apologize for any inconvenience this may cause.

Where are the Engineers in Nigeria? A New Breed Wanted

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The question that engineers ask themselves as Nigeria continues to take stock of its 50 years of political independence is; what future is there for the engineering profession? This was also the recurrent theme at the October Lecture series of the Nigerian Society of Engineers, NSE, held recently in Abuja. Emeka Ezeh, director-general of the Bureau of Public Procurement, BPP, and the 25th president of NSE who was the guest speaker, explored the issues of capacity development, the limitations and contributions of indigenous engineers to national development.

 

Engr. Olumuyiwa Ajibola, president of NSE, explained in his introductory address that the annual October Lecture of the society provides a platform to draw from the experiences of its past presidents in shaping the future of engineering practice and stating the position of engineers on topical national issues. He called on the government to ensure full implementation of the Nigerian Content Initiative in all aspects of the economy.

 

In the lecture, titled Nigeria at 50: Where are the Engineers? Ezeh who was president between 2006 and 2007, lamented the poor quality of engineering graduates from the nation’s ivory towers. This he blamed on the current education system which emphasises what he called the “science of engineering” rather than “the practice of engineering”. He decried the proliferation of engineering faculties in the over 70 universities in Nigeria many of which do not have the requisite facilities and human capital to produce well-trained engineers.

 

The BPP chief observed that engineering practice is being politicised in Nigeria, thus jeopardising the ethics and norms of the profession. He regretted that “the process of designing and constructing bridges and roads are not led by us (Nigerian engineers), yet government has set up institutions and agencies that ought to drive these”. He maintained sadly that, “though engineers can claim to be in charge of designs but the actual construction where the real money is, is in the hands of other professionals and non-professionals”. Preferring the words “moral bankruptcy,” rather than corruption, Ezeh condemned a catalogue of contemporary malaise afflicting the profession. According to him, certificates are raised for substandard jobs, quantities are inflated right from the designs stage, payments are delayed and withheld for uncompromising consultants. He also said that Nigerian companies and consultants are evaluated out of competition, and indigenous companies and consultants adopt unwholesome practices in order to survive.

 

The lecture was not all about lamentations though. Ezeh commended the achievements of Nigerian engineers especially in the building and power generation sectors. He equally explained the role of engineers in public procurement and noted that procurement is about the engagement of a third party to provide goods, works and services which constitute over 95 per cent of the procurement done by various government agencies. Engineers clearly have an edge over others, he observed, since an engineer is in a better position to deal with issues of roads, airports, railway, communication and others, which procurement facilitates.

 

As a way forward, Ezeh advocated proper funding of some universities known for excellence in engineering to improve on the quality of engineering graduates. To him, entry requirement to such institutions should be advanced level, rather than ordinary level as obtains at the moment. He tasked engineers to be proactive on national debate by marketing themselves while maintaining high ethical standards. These, he believes, are critical to laying the foundation for a new generation of engineers that will drive the economy beyond 2020.

 

In his remarks, Sanusi Daggash, minister of works and the special guest of honour represented by Amina el’Zubair, senior special assistant on Millennium Development Goals, called on the NSE to show concern for the future as the October Lecture series present a bridge to the future .

 

Author: I-Corps/Anayochukwu Agbo

 

Tekedia has enterred into an official partnership with I-Corps to share contents.

 

Zinox Computers Joining The Nigerian Tablet Market with Mecer? The Market Heats Up

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This is purely an analytical prediction, Zinox likes to do things with that nationalist vision. Make it look local and Nigerian. It is not certain that it can go with any brand that is somewhere. Yet, we like this writeup from TechBrandReview.

 

 

As Mustek officially launched its new Mecer Xpress slate PC, aimed at the consumer and business markets, all eyes are now on its Nigerian brand Zinox to follow suit and present its own Zinox (Mecer) tablet soon.

 

According to Mustek, which is a leading PC brand operating from South Africa but with interests in other home-spun PC brands across Africa including Zinox, the Xpress Slate device is aimed not only as a content consumption device, but also as a device for business use.

 

Mustek retains a significant footprint in Africa, with anchor operations in Kenya and Nigeria. Mustek’s African presence is primarily based on partnership agreements reached with competent local companies. Mustek has a huge stake in Zinox Technologies in Nigeria as well as in Kenyan in the form of Mecer East Africa. With the Nigerian market currently awash with various tablet PC brands like iPad, Samsung Galaxy, Huawei, Motorola Xoom, etc, the market may have become already saturated should Mecer introduce its Nigerian Xpress version under Zinox.