This Nigerian startup wants your DNA to rewrite global medicine
Syndicate Bio launched in September 2023 to enhance genomics and precision medicine in Africa. The company aims to address the lack of African genomic data, which hampers disease prevention and treatment.
Faced with a failing currency, this Nigerian startup found a global market for IT equipment
Francis Osifo faced challenges in sourcing a laptop for an employee in Kenya while at 54gene, leading to a two-month customs delay. After leaving 54gene, Osifo founded Rayda to provide visibility into asset management for businesses.
54Gene founder sues investors over company collapse
54gene founder Abasi Ene-Obong sues investors over the company's collapse and asset sale. A Federal High Court in Lagos intervenes to stop the sale of 54gene's assets, including sensitive genetic data.
Nigerian court blocks sale of 54gene’s assets, as founder claims investor wrongdoing
The Federal High Court in Lagos granted an injunction blocking the sale of 54gene's assets. Dr. Abasi Ene-Obong accuses the Cathay AfricInvest Innovation Fund and Adjuvant Capital of orchestrating the company's collapse.
Why startups fail: The overlooked role of people processes
12 startups shut down in Africa in 2024, with 25% due to people and operations-related challenges. 18 startups failed in the previous year due to lack of operational licenses and poor HR processes.
