Kora Pay, a Nigerian startup company with the aim to provide fast, efficient and affordable technology, has made the shortlist for PITCH competition in Toronto, North America.
The competition is worth C$30,000 in voucher towards product building as well as C$5,000 in prize money, while the runner-up gets C$10,000 building voucher.
Kora Pay was one of the 500 applicants in the competition. Each shortlisted startup will be given the opportunity to present their projects in front of world investors.
Web Summit is the company organising the Collision technology conference in May, 2018.
Recall that Legit.ng earlier reported that the German government created it first ever power big rigs which allow trucks to get electric power through overhead cables.
The project went live on Tuesday, May 8, and is the first ever that would be tested on a public road in Germany.
The system, developed by Siemens (SIEGY), allows trucks with the aid of special equipment to allow the vehicles draw power while moving at 50 miles per hour.
Electric motors are connected in overhead lines and sensor detect when the wires are available for motion to take place.
One of the benefits of the system, according to Siemens, is that the system can be used with existing road infrastructures making it an alternative transport in places rails are not available.
The German government said it spent €70 million ($77 million) to develop trucks that are compatible with the system.
Siemens said, with the new system, a truck owner could save €20,000 ($22,370) on fuel over 100,000 kilometers (62,137 miles). Another benefit of the system is that it will greatly help to reduce CO2 emission as the government said it is an efficient solution to it.
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