U3b Networks (short for the "Underprivileged three billion" who lack internet access) is a new company in Jersey set up by Greg Wyler, former owner of Rwanda’s national telephone company. He intends to provide cheap, high-speed internet access to remote areas in developing countries, which up to now has been the reserve of developed countries. Mr Wyler plans to charge $500 per megabit per month, compared with the $4,000 charged by existing companies. Mr Wyler has so far raised $40m from investors, but this seems like a risky investment, especially as billions were lost on similar projects a decade ago. So why are they investing in the hope of finding customers in the world’s poorest regions? The reason is that previous projects were over-ambitious and set out to provide global coverage, whereas U3b’s project is far less ambitious and its services will only be available to a ribbon around the equator, covering most developing countries. It will initially use just five satellites circling