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Ecobank Lions Den Business Reality Show For Budding Nigerian Entrepreneurs.

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Ecobank Lions Den Business Reality Show For Budding Nigerian Entrepreneurs.

Lions’ Den is a business reality show that gives budding entrepreneurs across Nigeria the chance to pitch their business to 5 successful Nigerian investors, referred to as Lions.

Pitch your business ideas to Nigerians ready to invest in your business on Lion’s Den.

Have you got an idea to expand your business? Is the idea for the next big product or service to hit the Nigerian market or something akin to gold nesting in the back of your mind?

Well, now’s the time to bring your idea(s) to life by pitching them to willing investors on Lion’s Den; the world’s biggest business reality TV show, happening in Nigeria.

Brought to you by Ultima Limited, the studio behind Who Wants To Be A Millionaire, Lion’s Den is the perfect opportunity to get that much-needed capital to take your business to the next level.

These Lions are looking to give back to the society and help Nigerian fulfil their dreams and ambitions. As such, if they see the potential in the entrepreneurs’ business, idea or products, they will invest in the business, in exchange for some equity in the business.

But even bigger than the cash investment, these Lions, who are business leaders in their own rights, will become the entrepreneurs business partners and help them take their businesses to greater heights.

Entrepreneurs pitch for investment in the Den from our Lions, five venture capitalists willing to invest their own money in exchange for equity.

Rules of the Lions Den

Like any good institution, Lions’ Den relies on rules. Without these, the Den would be a much more chaotic place.

Here are the basics – the eight golden rules that shape presentations and negotiations.

RULE 1: THE PITCH

Entrepreneurs must start the meeting by stating their name, the name of the business, the amount of money they are pitching for and the percentage of equity they are willing to give away in their company.

They must follow this with a pitch of up to three minutes. If it exceeds three minutes, the Dragons can stop entrepreneurs at any point but they cannot interrupt the initial pitch.

RULE 2: THE Q&A

Entrepreneurs DO NOT have to answer all the questions asked, but what they do or do not choose to answer may affect the outcome – for example, if they refuse to reveal net profits. They may ask the Lions any questions that help them determine whether they are suitable investors for their business.

It is important to note that anything that is discussed in the Den can be potentially broadcast.

RULE 3: OPTING ‘OUT’

Entrepreneurs’ time in the Den is over after all five Lions have declared themselves ‘out’.

Also, once a Lion has declared his or herself ‘out’, they MUST NOT re-enter negotiation on the deal, and unless there is a compelling reason, they should remain quiet and leave the others to pursue the negotiations.

RULE 4: INVESTMENTS

The entrepreneur must secure at least the total amount they have asked for at the beginning of the pitch.

If a Lion offers less than the full amount, the entrepreneur must try and make up the total by securing an investment from one or more of the remaining Lions.

Each entrepreneur must leave the Den with at least the full amount they asked for or they exit empty-handed.

The entrepreneur can negotiate more money than was originally requested, as this is usually to redress the sticking point of an entrepreneur giving up more equity than was initially offered.

RULE 5: MULTI-LION INVESTMENTS

Each Lion is working as an individual investor. The Lions can invest as little or as much of their own money as they want. It is up to the entrepreneur to persuade them to match the required investment or pledge to invest a portion thereof.

As above, it is acceptable for the entrepreneur to seek investment from more than one investor in order to make up the total amount required. A full investment may involve between one and five parties.

RULE 6: REFUSING INVESTMENT

An entrepreneur can refuse investment from a Lion if they think they are an unsuitable investor or the deal on the table isn’t right for them.

RULE 7: THE DEAL

The deal agreed on the day is an unwritten agreement that depends on due diligence checks, and relies on the intergrity of both investor and entrepreneur to freely enter the transaction and be fully committed to seeing it through.

However, the deal is solely between the Lion and the entrepreneur and after additional meetings, if an agreement cannot be reached, neither party is legally obliged to complete the deal.

Ultima Studios remains impartial, as they cannot be involved in the business contract between the two sides.

RULE 8: THE ADVOCATE

Entrepreneurs are permitted to have an advocate on standby in the Den, to help them answer some of the Lions’ questions. This advocate must usually be someone who is directly involved in the business. They can ask the Lions to meet their advocate at any point after the three-minute pitch.

Any advocate attending the Den must be pre-approved, screen-tested and have gone through the same personal checks as the entrepreneurs.

Terms and Conditions

  1. To be considered all candidates need to submit an application form and the application is then subject to casting criteria.
  2. Due to the high number of applicants, only the applicants shortlisted will be contacted. However, we do consider all applications carefully.
  3. Once shortlisted for consideration the organisers will do due diligence and background check on applicants, but ultimately the final selection for participation will be decided on a number of factors and the Producers decision is final.
  4. Please note: Your information will be treated in the strictest confidence by Ultima and individual data will not be provided to any other party. All information provided is subject to and will be treated in accordance with privacy and data protection laws, including The Nigerian Data protection Regulation 2019, and will not be used for any purpose other than assessing applicants to take part in the programme.
  5. We regret that Ultima members of staff and their immediate families are not eligible to apply.
  6. All applicants must be 18 years and above to be eligible.
  7. All Applicants must have an existing ECOBANK account or be ready to operate one.
  8. Investment in the business is solely at the discretion of the lions’
  9. Ultima shall not be liable for non-performance of any Lion.
  10. A Lion shall be at liberty to pull out of any investment where he/she feels uncomfortable with.
  11. Your personal data will be used by Ultima in accordance with privacy and data protection laws, including The Nigeria Data Protection Regulation 2019.
  12. All personal data sent by you will be used for the purposes of selecting contestants for Lions’ Den, and the production and distribution of Lions’ Den, and will be retained by Ultima for the period necessary for it to use the data.
  13. In the event of you being selected to take part in Lions’ Den and being offered investment by a “Lion”, Ultima will share your personal data with the investing “Lion” for the purposes of undertaking their own due diligence.

 

For More Information:

Visit the Official Webpage of the Ecobank Lions Den Business Reality Show 2021

 

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Thinkwell Institute Samya Rose Stumo Memorial Fellowship For Global Health.

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Thinkwell Institute Samya Rose Stumo Memorial Fellowship For Global Health.

Young women play a foundational role in helping sustain the health and well-being of our communities, however they are often not given opportunities to activate change. The Samya Rose Stumo Fellowship for Global Health fosters a global community of young women to inspire their vision, develop their skills, incubate their ideas, and elevate their voices to become the change makers of tomorrow.

The fellowship seeks to identify and nurture young women from across the globe to co-create transformative global health projects with ThinkWell. Selected fellows will be part of a 12-month inaugural cohort designed to bring their interests and ideas to life. Fellows will work with ThinkWell experts and have access to cutting- edge resources to co-create a project idea in health systems, health advocacy, health policy, or health entrepreneurship.

Leading global health experts from ThinkWell will serve as a mentor to each fellow, directing them through the entrepreneurial process and providing critical feedback along the way. Fellows will write a summary of their learnings and findings and give a presentation after 12 months. We understand that fellows will be at varying stages of development in their area of interest, and we are committed to curate and facilitate experiences designed to bring value to each fellow. While fellows are primarily responsible for individual projects, we encourage cross-collaboration and exchange of ideas.

Requirements

Thinkwell seek applications from outstandingly bright, motivated, and driven women with a burgeoning interest to explore a concept in global health. These women should be self starters,have demonstrated leadership in their communities, and have a commitment to challenge the status quo. Women should be in or have recently completed a master’s degree or higher. Initially, the fellowship will accept promising women applicants from Kenya, Indonesia,Bangladesh, and the Philippines.

How to Apply

Interested individuals are encouraged to apply online with the following:

1) CV outlining education, experience, and accomplishments

2) A letter of recommendation describing how the candidate exemplifies strong merits and commitment to the field of global health

3) Answers to the following questions about a project/initiative in health systems, health policy, health advocacy, or health entrepreneurship

  • Problem Statement: What problems do you want to address throughout the fellowship? Provide evidence of the problems with data and details (350 words max)
  • Potential Solutions: Provide a compelling explanation of the opportunity/opening/void you see in the ecosystem. Outline possible avenues you’d explore as a potential solution. If you have an established idea, please expand on it here (350 words max)
  • Impact: Explain the intended impact you hope to address by researching your problem area. What are some long-term goals? (200 words max)
  • Potential Challenges: Briefly describe any potential challenges that you may face as you explore your problem area (200words max)
  • Answers to the following questions: Which professional accomplishments to date are you proudest of? (200 words max) What are your professional goals for the next several years? (150 words max) How would this opportunity advance your goals? (150 words max)

For More Information:

Visit the Official Webpage of the Thinkwell Institute Samya Rose Stumo Memorial Fellowship

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