KCB Lion’s den is aired on our screens every Tuesday on KTN Home at 8:00 pm. With every new episode, there comes ambitious entrepreneurs ready to face the lions for a chance to secure a deal of their lifetime. And on this episode, we saw 5 entrepreneurs enter the den and only ONE walked out empty handed.
Here is a review of how each of the ventures faired on;
Richard Masinde an agribusiness entrepreneur was the first to meet the lions. He came in with the concept of hydroponics farming, which he believes can feed thousands of Kenyans. His company Setplace limited grows kale, coriander, tomatoes and lettuce using only water and mineral nutrients. Even though the technology is already in existence he managed to convince the lions to invest in his business. Richard had a lot of passion and enthusiasm for his business. He knew the financials very well and how he was going to scale up the business and for that reason Joane Mwangi came in for the hunt. Giving him KES 1.6 million for 20% equity stake, exactly what he wanted.
Indomitable innovators is a company set to use entertainment technology to help sell real estate. This company has an idea that will make the use of broachers in real estate a thing of the past, by the use of VR. They have a VR book that allows individuals to view all the areas of the house or hotel an individual may want to purchase or check into. They also want to gamify the experience and interpret the data in real time. The duo was seeking KES 1 million for 30% equity. They managed to get two offers one from Joanne Mwangi offering KES 1 million for 35% and Mulei offering the same for 50% equity stake. They came into the den targeting Mulei and they decided to take his offer.
Smart farmer app
Two young cubs came into the den looking for a grant for a mobile application that will help bring fortunes to the farmers. The young cubs had realized most farmers lack knowledge on how to plan and maintain high quality crops and thus came up with the smart farmer app. The app acts as a school for farmers, as it guides the farmer in the selection of a suitable crop depending on the region they are based. The login details must include the region and upon entry he will be given a suggestion of the top five crops that will do well in that area. A guideline will be offered explaining how best to maintain the crop. The duo was requesting for KES 140,000. The lions found the app to be practical and encouraged them to develop a USSD code as most farmers don’t have access to smart phones. They managed to get KES 60,000 more than what they had asked with Joanne and Chris each pledging a 100,000.
An entrepreneur by the name Edwin Ochieng came into the den with a business that produces coach boards and white boards, which can be used by coaches and children to scribble on things using a marker pen. He came into the den asking for 1.2 million for 20% equity stake. Unfortunately Edwin didn’t manage to secure a deal as his financial projections weren’t adding up and he didn’t have all the necessary information about the business. Luckily he managed to sell a coach board that he was selling for KES 4,500 at KES 100,000.
Yalagha solutions deal with all matters concerning wines. Be it wine consulting, wine etiquette training, preparing dinners and listing. The wine master came in to the den asking for 1.5 million with 25% equity stake. He wowed the lions on his great knowledge in wines and how well he understood the business and the financial projections. He managed to secure a deal from Joanne for KES 1.5 million with 35% equity stake.
One take away from this episode, was that the lions are ready to jump in for a haunt if an entrepreneur is enthusiastic enough and knows his/her business from head to toe. Having all the necessary information in the den will go a long way in securing you, a deal of a life time.
See you on the next episode.