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Silicon Valley Bank Is In Trouble
How CcHub's $15 Million Accelerator Programme is Driving an EdTech Revolution in Africa
Co-Creation Hub (CcHub), an innovation lab in Nigeria and Kenya, has launched a $15 million edtech-focused accelerator program, which plans to invest an initial $100,000 in 72 startups over the next three years. The selected startups will receive support from an in-house team in various business areas, including communications, government relations, portfolio management, and product development, among others. Bosun Tijani, CcHub's Co-founder and CEO, hopes that at least 20% of the 72 startups survive for up to three years, which will help CcHub understand how technology can solve Africa's educational needs. With over 20 million out-of-school children in Nigeria and 1.13 million in Kenya, the initiative aims to kickstart the edtech ecosystem in Africa and address the continent's education crisis.
The Benefits of Spatial Audio in Apple Music Classical's Launch
Apple Music Classical, the long-rumoured app, will officially launch on March 28th, offering the world's largest classical music catalog with over five million tracks and thousands of exclusive albums. The app will be available for Apple Music subscribers on both iOS and Android, but iPhone users with iOS 15.4 or later will be able to access it first. The app offers spatial audio and 192 kHz/24-bit Hi-Res Lossless sound quality for a superior listening experience, and a powerful search function that enables users to search by composer, work, conductor, or catalog number. Apple Music Classical is a separate app from Apple Music and requires an Apple Music subscription.
Silicon Valley Bank's Shares Are Tanking
Shares of Silicon Valley Bank have fallen more than 60% compared to last year, following the bank's announcement that it is raising additional capital by selling stock and extending its term-borrowing capacity. The move has led to concerns among investors, with some founders and investors advising startups to consider withdrawing funds from the bank. The bank's CEO, Greg Becker, has sought to reassure clients, insisting that the stock sale is an attempt to increase financial flexibility and profitability. Reports suggest that the bank is in discussions with other financial institutions about a possible acquisition.