It’s another episode of KCB Lions’ Den season 4. And on this episode 4 entrepreneurs enter the den with the hopes of gaining an investment that will transform their businesses. The entrepreneurs on this episode are; ECG smart watch, RBC Kenya, Strategique Lappsinfo and M-Kula. One of the entrepreneurs managed to secure a Ksh 50 million investment from the lions.
Health is a fundamental human right all over the world and our first entrepreneur in the den capitalizes on this. He incorporates an online doctor that will always be with you everywhere you go and can help prevent medical conditions. Our entrepreneur has created an ECG smart watch which can predict a heart attack by at least 12 hours. The ECG smart watch presents itself as a digital doctor that accumulates a person’s data and stores them in the cloud where algorithms do the tracking of all health problems and gives the necessary warnings. The smart watch also tracks a user’s blood pressure, sugar levels, calories, metabolism rate and hydration. This data is collected over a one month period and can give a clear picture of what is happening in a person’s body. The entrepreneur was seeking a KSH 21 million investment in exchange of a 4% equity stake. The watch is to be sold at Ksh 1000 and plans to provide it for free to individuals living below the poverty line. Unfortunately he didn’t manage to secure an investment this is because the lions believed the businesses needed a much bigger investment for it to be profitable. The lions also agreed that the business was good and had the potential to make money. The lions advised him to secure pertinent rights for the brand and get a “big dog” so as to push the brand even further.
Learning sciences is hard for nearly half of the world’s population. And these two entrepreneurs realized the problem and came up with a solution using machine aided learning. RBC (Research business center) Kenya is a unique science based business that aims at improving science performance among students in secondary, colleges and university. They offer practical sessions to learners, research guides and sell RBC products e.g. electrical tutor, universal science kit, SB & auto machine which are used to study and simplify industrial processes mainly in high schools. RBC Kenya is currently serving 300 clients and need a fully equipped laboratory that can handle such numbers. They were seeking a Ksh 1.5 million investment in exchange of a 20% equity stake. It was quite hard to understand how the gadgets were able to enhance the learning of sciences. And with that the lions didn’t invest in their business.
Land purchase in Kenya is a long and gruesome process filled with a lot of challenges. The next entrepreneur in the den has come up with a solution that sort to make land purchases easier. Daniel the director of Strategique Lappsinfo has a mission to foster positive land reforms and a key objective to develop a land information system for the whole country. His company has developed a land information management system with data sets on geo referencing in Kajiado County and are set to expand to other counties. Daniel was seeking an investment worth Ksh 6 million in exchange of a 35% equity stake. The lions felt that the business will soon be out of business as the government was working on a similar project and they decided not to investment.
The last entrepreneur in the den was Nil with an innovative app set to solve some lunch time challenges for both the employer and employee. According to a research done by the company they discovered companies who offer their workers lunch get a 22% improvement in productivity and 50% improvement in absenteeism. Nil therefore developed an app by the name M-kula. M-Kula is an app set to be funded by an employer and an employee will use the funds to only buy with it lunch. This App is flexible and can be used in any food outlets including “Kibandas”. Nil was seeking a Ksh 5o million investment in exchange for 10% equity stake. Kris Senanu quickly jumped in for the haunt and made a Ksh 50 million investment in exchange for 20% equity stake.
Lessons on this episode;
- You need to correctly evaluate your business and shouldn’t rely on assumptions.
- Your business should be practical and easy for an investor to understand
- You need to believe in your business before anybody else can.
- You can get an investment worth millions if the business shows promise of profit maximization.
Unfortunately episode 11 was unavailable on YouTube.