LocalGlobe and Pronomos Capital back Itana to pave the way for Africas first digital free zone TechCrunch

News Summary

But while waiting for the completion of its physical charter city, Itana is looking to establish a virtual city in these free zones for businesses in the digital and service industry while still offering the same benefits, according to Edu.
In the meantime, though, Talent City, now known as Itana, has raised a $2 million pre-seed, money it intends to use to establish a digital free zone.Itana, founded by CEO Luqman Edu, COO Coco Liu and Aboyeji, a founding investor, is primed to be Africa’s first digital free zone.
The first phase of its development will be completed by 2027.Model digital citiesAccording to Liu, Itana will explore several revenue streams from providing unique digital and physical online jurisdictions for global businesses trying to operate in Africa.
With it, international businesses, without having a physical presence in a Nigerian free zone, can, upon incorporation and operation in the country, access incentives, including taxation, business visas, banking, capital repatriation and supportive legislation.
Then, several other revenue streams would be around on-demand services from the Free Zone’s one-stop-shop app, such as banking, visas, tax auditing, recruitment, payroll management, business sector licenses and establishing minimal transaction fees for non-VAT revenue.
“For instance, Bosun’s emergency as a minister, especially given his penchant for focusing government funding on Nigerian incorporated businesses and the plans for the Nigeria stock exchange to allow companies in the free zone to go public in dollars.

LocalGlobe and Pronomos Capital back Itana to pave the way for Africas first digital free zone | TechCrunch

News Summary

Must read Articles

Eldercare robot ElliQ nabs another $25 million in funding | TechCrunch

The Israeli firm announced a $36 million Series B in the early days of the pandemic, and now its adding another $25 million.

4 ways to show customers they can trust your generative AI enterprise tool | TechCrunch

Here are ways your generative AI organization can build as an open book while building trust with potential customers.

MFast get backing from Wavemaker Partners to increase financial services access in Vietnam | TechCrunch

The majority of Vietnams population live in rural areas and often lack access to financial services because banks and other institutions open most of The majority of Vietnams population live in rural areas and often lack access to financial services because

Voxel uses computer vision to increase workplace safety | TechCrunch

The International Labour Organization estimates that there are 340 million workplace incidents every year. Voxel was created to increase workplace safety The International Labour Organization estimates that there are 340 million workplace incidents every year

Praso bags $9.3M, acquires Flokis IP to simplify food purchasing for Brazilian retailers | TechCrunch

The company connects large foodservice manufacturers with bars, restaurants, cafs and bakeries then manages fulfillment.

Hyperproof, a compliance and risk management startup, raises $40M | TechCrunch

Hyperproof, a startup building tools to enable organizations to become more compliant with data regulations, has raised $40 million in funding.

Chinese users can finally try their homegrown ChatGPT equivalents | TechCrunch

One month after China announced its provisional measures to oversee generative artificial intelligence, the country has granted approval to the first

Ivy raises $20M to take openbanking payments international | TechCrunch

Open banking where traditional banks open their data up with APIs to build new financial services for their customers has the potential to be one of

Teale, your mental health companion at work, raises $11 million | TechCrunch

French startup Teale has secured a funding round of $11 million earlier this summer (10 million). The company provides a mental health platform for

Are selfdriving cars already safer than human drivers?

I learned a lot by reading dozens of Waymo and Cruise crash reports.

Right to repairs unlikely new adversary Scientologists

A totally unreasonable proposal.

How to pitch me 15 investors talk about what theyre looking for in August 2023 | TechCrunch

I suggest reaching out right before Labor Day to set up a meeting in September or wait and start your outreach altogether next month.

NYPD to deploy drones to monitor Labor Day weekend gatherings, raising civil liberties concerns

The New York City Police Department will deploy a fleet of hitech drones during the Labor Day weekend to monitor complaints about large gatherings associated with West Indian American Day celebrations, a tactic that has been denounced by civil liberties advo

Taiwan billionaire Terry Gou resigns as Foxconn board member amid bid for presidency

Billionaire businessman Terry Gou has resigned from the board of directors of Foxconn, the worlds largest electronics manufacturer, days after announcing his bid for Taiwans presidency.

Made in Ukraine Kyivs burgeoning weapons industry is enabling it to project power far beyond the front lines

In the early hours of August 29th, swarms of Ukrainian drones flew across seven Russian regions. Many were intercepted; some were not.

SAGAFTRA requests approval to strike against video game companies

SAGAFTRAs National Board is unanimously seeking permission from union members to strike against a number of video game makers ahead of negotiations resuming later this month.

Small town near Seattle declares state of emergency over false alarms from dam warning system

A state of emergency was declared in a small city in Washington state this week after a warning system for a dam protecting the city from being flooded by a reservoir falsely went off a fourth time since 2020, city officials said.

These five cities could be one natural disaster away from a catastrophic water crisis

Here are five cities or regions across the country that show signs of vulnerability under a rapidly warming planet from coastal flooding in New York to saltwater intrusion in Californias groundwater.

A look into the REM dreams of the animal kingdom

Animals active sleep phases look very much like REM.

Launch into the future with the complete Space Stage agenda at TC Disrupt 2023 | TechCrunch

Were outofthisworld excited to announce the complete Space Stage agenda at TechCrunch Disrupt 2023. Were joining forces with the Aerospace

Should the US implement a robot tax? | TechCrunch

MIT economists Arnaud Costinot and Ivn Werning discuss the potential impact a proposed robot tax could have on automation and jobs.

Google brings that cheap flight data and the feds investigate Elons glass house | TechCrunch

Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.

Greylock, Lightspeed Venture Partners, Khosla Ventures, Pear VC join Startup Battlefield judges | TechCrunch

Just a couple more weeks until 20 of the worlds top earlystage startups take to the Disrupt Stage at TechCrunch Disrupt 2023 to compete for an

This veteran VC doesnt think ARMs IPO will have the impact that everyone is hoping it will | TechCrunch

The startup industry has been whistling a happy tune ever since the British chip designer ARM filed paperwork with the SEC late last month for an initial Ive never understood this concept of, Well, the market is closed, but you take one super big company, a

Launch into the future with the complete Space Stage agenda at TC Disrupt 2023 | TechCrunch

Were outofthisworld excited to announce the complete Space Stage agenda at TechCrunch Disrupt 2023. Were joining forces with the Aerospace

Google brings that cheap flight data and the feds investigate Elons glass house | TechCrunch

Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.

Greylock, Lightspeed Venture Partners, Khosla Ventures, Pear VC join Startup Battlefield judges | TechCrunch

Just a couple more weeks until 20 of the worlds top earlystage startups take to the Disrupt Stage at TechCrunch Disrupt 2023 to compete for an

This veteran VC doesnt think ARMs IPO will have the impact that everyone is hoping it will | TechCrunch

The startup industry has been whistling a happy tune ever since the British chip designer ARM filed paperwork with the SEC late last month for an initial Ive never understood this concept of, Well, the market is closed, but you take one super big company, a

Chinas Xi will skip G20 summit in India during a period of soured bilateral relations

Chinese President Xi Jinping is apparently skipping this weeks Group of 20 summit in India as bilateral relations remain icy. The Chinese Foreign Ministry says Premier Li Qiang will represent China at the Sept. 910 gathering. Relations between China and

Food tech roundup Plantbased protein eaters still want it to taste like meat | TechCrunch

Taste is something that continues to be a challenge for plantbased protein companies. If it tastes more like meat, its a winner.

Nordicbased Unconventional Ventures nears 30M fund close to back diverse European teams | TechCrunch

As has been pointed out many, many times, lack of diversity is an ongoing problem in the tech startup and VC landscape. Its a fact thats long been

Level up on the Builders Stage at TechCrunch Disrupt | TechCrunch

TechCrunch Disrupt, our flagship startup event, returns to San Francisco on September 1921, and you can bet TechCrunch+ will be in the house. With

As sports betting spikes, help for problem gamblers expands in some states

When the NFL season kicks off, Kentucky residents will be able to legally bet on games for the first time. When they do, they also will be funding the states firstever program for people with gambling problems. Nearly threefourths of

Envisics closes $100M to advance AR headsup display tech in cars | TechCrunch

Envisics has closed its Series C and is nearing commercialization of its augmented reality headsup display with GMs Lyriq EV.

Protestors rally at Cruise HQ in San Francisco | TechCrunch

Protestors rallied outside Cruise HQ after a robotaxi allegedly blocked an ambulance with a patient onboard who later died.

China reportedly bars some government officials from using iPhones

China has made a massive move of barring central government officials from using iPhones at work, part of its grand plan to restrict foreign influence as its relationship with the U.S. sours. The move, first reported by the Wall Street Journal, will likely de

LocalGlobe and Pronomos Capital back Itana to pave the way for Africas first digital free zone | TechCrunch

This funding will bolster Itanas efforts to improve the easeofdoingbusiness index and drive foreign direct investment in Nigeria.

Affordable, hightech EVs in focus at Munichs IAA Mobility 2023 | TechCrunch

Automakers around the world have been making an appearance this week at IAA Mobility 2023 in Munich, the largest auto show in Europe. One of the biggest