KCB; Lions' Den Business Challenge for Entreprenuers

    June 29, 2016   No comments

KCB lions den business challenge
KCB's Lions' Den is a Business Tv live show that will see Kenyans with viable business idea get investors help in pushing their businesses up.

Drawing the idea from successful business TV shows like Dragon Den and Shark Tank, KCB came up with Lions' Den to help businesses not listed on the Nairobi Securities Exchange get direct investments from Kenyan business moguls.

The move have been accepted by partners like Quite Bright Films (QBF) and Nation TV.

How it works.

  1. Entrepreneurs apply for a chance to participate by either filling in online forms in the KCB bank website(www.bankika.co.ke) or fill in forms available at any KCB branch.
  2. Selected entrepreneurs will then present their business ideas and products before business moguls, known as the Lion's Den.
  3. Best and market viable business ideas get direct investors on the spot.Unsuccessful business ideas see presenters walk away empty handed.

Participating Rules.

Check the rules below before participating;

  • Entrepreneurs must be aged 18 and over
  • Entrepreneurs must fill in the application form and consent to the terms and conditions
  • Lions will invest their own money
  • Entrepreneurs will have three uninterrupted minutes to pitch their idea
  • Entrepreneurs must state how much investment they are looking for and what percentage of equity in their business they will offer the Lions in return
  • Lions will be given the time they need (not exceeding 1 hour) to ask the entrepreneur further questions about the business and decide whether or not they want to invest.
  • Entrepreneurs must secure the full investment asked for or they leave empty handed
  • Visual aids are permitted for the pitch after prior inspection and approval by the production team
  • Lions who are not interested in investing must declare themselves out and cannot re-enter negotiations
  • Lions cannot confer but can enter into joint deals
  • Entrepreneurs can call on an advocate to help them with e.g. financial or marketing issues
  • Entrepreneurs must have the authority, if shares/joint ownership and a partner not present, to negotiate on equity
  • Entrepreneurs cannot bring crib sheets, prompts re financial questions but can bring proof of e.g. patents and granted order.
  • Entrepreneurs can refuse offers
  • Lions must not contact contributors directly afterwards if they have turned them down in the Den.
  • Deals struck during the program are between the respective Lions and entrepreneurs and subject to contract. NTV, QBF and KCB Bank are not a party to such deals

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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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