Application Deadline: 24th July 2016
From Dragon’s Den to Shark Tank, this globally successful business TV show is now in Kenya, branded for Africa’s most powerful predator as Lions’ Den.
Aspiring entrepreneurs get to pitch their business ideas and products to a panel of Kenyan business moguls who have the cash and the know-how it takes to succeed.
Kenya’s most daring entrepreneurs will have an opportunity to step into the den to convince the Lions that their business is worth investing in and offer a share of their company in return.
The Lions have pledged millions of shillings of their own personal wealth towards investing in ground-breaking ideas through Lions’ Den, powered by KCB Bank, the largest commercial bank in East Africa.
But beware, it takes more than passion to convince these boardroom giants that an idea is worth their attention, and if the entrepreneurs disappoint or anger the Lions, they will walk away with nothing.
Do not enter the den unprepared. Lions can smell opportunity just as much as fear and failure.
RULES OF THE GAME
With every game comes a rulebook. Go through each of these rules to see what makes a player worthy of being a contestant and what contestants are expected to find in the Lion’s den.
- 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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