L5Lab is proud to announce its partnership with The Presidential Enabling Business Environment Council (PEBEC) for the first edition of the #PEBECHack, an initiative of the Federal Government of Nigeria that aims to keep MDAs accountable through technology. This initiative is aligned with L5Lab’s vision - to make African businesses and economies at par with the world’s best.

Vice President Yemi Osinbajo, who is the chairman of PEBEC, explained that #PebecHack is “bringing together techies in a Hackathon to develop a solution for tracking reforms and getting public feedback and for enabling the public to complain directly about government agencies that are making doing business difficult.”

L5Lab is providing prize money of N1m for the 1st prize winner, N300,000 for the 2nd place and N200,000 for 3rd place. L5Lab’s senior developers will also provide mentorship and technology support to ensure the winning solution is upgraded to be of world class standard suitable to be used by government and the Nigerian public. L5Lab founder, Chika Nwobi said “ we are excited about this opportunity for the Nigerian software development community to show what we know they can do by producing really creative solutions that can help us really hold government accountable to serve us.

The CTO at L5 Lab, Jospeh Abah also commented that “the initiative would help to reveal the powerful capabilities of our young people and help the government see how they are a key component to fighting corruption”

According to a statement by Presidential Enabling Business Environment Council (PEBEC);

“#PEBECHack will bring together various teams to compete for the development of a tool that will promote accountability, performance tracking and transparency among key Ministries, Departments and Agencies (MDAs) crucial to the success of Nigeria’s Ease of Doing Business reforms.”

Individuals or team interested in participating in #PEBECHack, can register on www.ebes.gov.ng/pebec-hackathon between Tuesday May 23 - Tuesday June 6, 2017. The Hackathon itself will hold over two days on June 23 and 24, 2017 in Lagos.

"The promise of the internet is that geography should be largely irrelevant. But that's not yet true: the majority of the world's population lives in a country where they don't have access to high quality banking or payments infrastructure,” said Patrick Collison, CEO of Stripe.

“There's a lot of latent potential in places like Africa, Latin America, Asia, and the Middle East; places where developers and entrepreneurs simply aren’t on a level playing field with people in more developed economies".

L5lab is pleased to announce that it is a part of the global network of incubators, accelerators, and investors partnered with Stripe on its new venture, Stripe Atlas.

Stripe Atlas is a new product that’s designed to make it easy for developers and entrepreneurs from almost anywhere to start global internet businesses.
In a few clicks, Atlas entrepreneurs can gain access to:

• An incorporated U.S. business entity.
• A U.S. bank account and tax ID number.
• A live Stripe account to receive payments from anywhere in the world.
• The basic services they need to get started; including tax advice from PwC, legal advice from Orrick, Herrington Sutcliffe, and tools and resources from Amazon Web Services, as well as $15,000 in AWS credits.

= Atlas is initially offering incorporation in the U.S. and hope to expand the program to offer entrepreneurs the option of incorporating in a handful of other countries around the world over time. There’s more info about Atlas at stripe.com/atlas.

Stripe is a software platform for building and running a global internet business. It is currently in 24 countries. 17% of the world’s population can access Stripe, 1.2 billion of 7.2 billion people on the planet.

Stripe will be working with all their partners to ensure that Atlas is available to legitimate entrepreneurs and businesses -people who are serious about building a global, online business. We're not loosening or changing the fundamental criteria for establishing a business; we're taking things that are theoretically available to entrepreneurs around the world and removing artificial roadblocks so that they're actually available.

L5lab invests in building tech companies in Nigeria. Our notable portfolio companies include Jobberman.com, Cheki.com.ng and Kamdora.com. L5lab partnered with 88mph to create 440.NG seed fund and accelerator program and also co-invested in the Lagos Garage co-working space. L5lab is Atlas’ only Nigerian partner.

The official launch of Stripe Atlas was on February 24th 2016 in Barcelona, Spain.

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