If I understand this right, it’s so obvious. Think about it, Nigeria doesn’t have an emergency service that actually works and you need to take into consideration how rundown majority of hospitals are infra-structurally especially in the Mainlands of Lagos for instace. So, having remote and online Emergency Medical Technicians actually seems to make sense. Direct interactive consultations with medical professionals trained in customer support to give first aid directions in emergencies and accidents. Imagine such an app being available during the pandemic, it could have taken a load off the NCDC hotlines.
It's really really early. No product, no customers. These kinds of pitches should be reserved for grant seeking IMO. This way, you get funds to develop the idea, onboard your first set of customers and prove the validity of your idea in the market on however small a scale. Pitching to investors will be a lot easier after this process. That being said #3 million sounds like a lot to have invested without having an MVP yet so who knows how far grants will go. I don't think this is a good deal for a founder that hasn't even generated revenue to be taking.
I think Bolaji will use his connects to get HMOs and Hospitals to get on the app if the app gets completed. For the entrepreneur, that's an early success, getting real users of the product. The question that will now remain is, how many users can they both get in a month/year and how profitable will it run. If the features are delivered as promised and users get really into it, Bolaji will consider apparently buying him out (for a comparatively low price due to the loan servicing arrangement). Eventually, Bolaji will become more superior shareholder. If the app doesn't get users and it flops, dude will still have 10million Naira debt on his plate. I'm not saying it's a bad deal, it's just a lot of pressure to work with and 75% Bolaji comes out on top.
Surprisingly, I have watched all the series, and have checked/followed up on the progress of all the businesses/startups involved. And none has progressed or is available on social media or the Internet. So, it is fair to say, over 90% of them have failed, unless proven.
Exactly. That's why the Nigerian business ecosystem isn't favourable to tech entrepreneurs. This folk should get a C-Corp registration and pitch to VCs!
I speak from real life experience… health technology in Nigeria isn’t something to write about, the procedure, the protocol and the approval alone can kill one dreams
Why was Temitope willing to have Bolaji invest the 15m for 50% equity. Thats having bolaji owning half your business bro cuz if he agreed the long run is that potential investors in the future will only be buying from your own equity if bolaji isnt will at that time to drop on his share and by that he will technically be the largest shareholder of your business. I am glad he wast bent on his offer.
How will you take bolaji offer? you just took unnecessary 10 million liability on your head. This app will not scale. Bolaji played risk free there, kai...if you go out without taking offer oga you will not die...Learn to Consult
It was a good deal to me. 50% equity at 5Million and 10 million at a single digit loan to the business not him and redeemable when cash flow is positive. That a lifeline. Cash is king sir. If the business fail the loan is not a personal loan.
@@solartalkers you did not understand what bolaji said. So the 10 million to the business is still a loan, when you are not generating cash it will accrue, meaning it's growing with interest. The day the company crash the only thing Balaji will lose is 5 million equity money but the 10 million you will pay him back either buy the money gotten from asset sales or if nothing was gotten then he will pay with his own money because it’s a debit.
@@ebenezerdn point me to where I said someone to invest? Also, the investment deal given to him was a good deal for the investors and a bad deal for him. So????
Not on agreed.Discerning investors are not jokers.They want to see scalability of they company pitching them.They look at numbers because they are not in the civil service
@BROWN BERRY: Thank God Naija is not a capitalist country and this guys are even lenient.. having a decade of IT experience, I must confess, there’s still much headaches ahead of him, with more research, passion and good marketing.. he can be successful
Personally, anyone can do this, so many hospital software's off the shelf that can do this, and with the app not fully developed, I mean apps don't talk a lot to do
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Bolaji is a Shark. He draws blood each time with his offer. 😂
I wish there are follow up sessions. Say 2-3 years after, we get to hear how it all played out.
Exactly
Yes
That will really be nice Dragons UK does follow ups.
@@cratorsmind9954 yes...where they visit the entrepreneurs
For both that got the investment and those who did not get investment. I’d love to see those who were turned down but did well
If I understand this right, it’s so obvious. Think about it, Nigeria doesn’t have an emergency service that actually works and you need to take into consideration how rundown majority of hospitals are infra-structurally especially in the Mainlands of Lagos for instace. So, having remote and online Emergency Medical Technicians actually seems to make sense. Direct interactive consultations with medical professionals trained in customer support to give first aid directions in emergencies and accidents. Imagine such an app being available during the pandemic, it could have taken a load off the NCDC hotlines.
He's smart.
But don't take an offer because it's the only one on the table. There could be other tables.
HE WILL SUCCEED IN THIS JOURNEY
Love this program...
Dan’s facial expressions though 😂
Bolaji's condition is always stringent.
Bolaji is so much intelligent
It's really really early. No product, no customers. These kinds of pitches should be reserved for grant seeking IMO. This way, you get funds to develop the idea, onboard your first set of customers and prove the validity of your idea in the market on however small a scale. Pitching to investors will be a lot easier after this process. That being said #3 million sounds like a lot to have invested without having an MVP yet so who knows how far grants will go. I don't think this is a good deal for a founder that hasn't even generated revenue to be taking.
I think Bolaji will use his connects to get HMOs and Hospitals to get on the app if the app gets completed. For the entrepreneur, that's an early success, getting real users of the product. The question that will now remain is, how many users can they both get in a month/year and how profitable will it run. If the features are delivered as promised and users get really into it, Bolaji will consider apparently buying him out (for a comparatively low price due to the loan servicing arrangement). Eventually, Bolaji will become more superior shareholder. If the app doesn't get users and it flops, dude will still have 10million Naira debt on his plate.
I'm not saying it's a bad deal, it's just a lot of pressure to work with and 75% Bolaji comes out on top.
So true.
Bolaji is something else 🤣🤣🤣🤣🤣🤣🤣🤣
the problem i sometimes have with the lion's is they dont say what they are offering to the enterpreneur.
Well, it's called Lions Den for a reason.
I am still looking for the entrepreneur that rejected the lions offer and they are the ones begging him to accept that will be interesting
I was watching shark tank, the sharks literally ran after the investors towards the hallway. The business was just to good to turn down.
I'm yet to see the lions fight over an investment
My name is temitop......e
Paul: for that singular reason, I am out!
hahhahahahahah
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂...I don laugh taya
🤣🤣😂😂
LOL..
Lol
Bro, there is a possibility of using this. My concern is the data to back it.
Surprisingly, I have watched all the series, and have checked/followed up on the progress of all the businesses/startups involved.
And none has progressed or is available on social media or the Internet.
So, it is fair to say, over 90% of them have failed, unless proven.
I have been checking up too, I only saw udolu on Google. Well business is easy to plan thinking about it, but tasking to execute beyond the money
I get u
The guy that sells smoked chicken i saw in one of the comments that uac has bought the company for 1.2billion naira
😂😂😂 Paul never contributing 💔
Paul is just there to opt out.
Just like Jenny of Dragon den🙂
The guy takes off even before you pitch an investment idea.
🤣
So it's been two years since this video was done, so how are all the companies the lions invested in doing...we have to get some feedback
I wish he gets this bid
A product like this needs very little marketing cost rather a B2B sales team knocking on hospital doors and a robust sales force structure.
Most of these investors don't understand preseed investment, imagine giving a loan to a pre-revenue stage company
Exactly. That's why the Nigerian business ecosystem isn't favourable to tech entrepreneurs. This folk should get a C-Corp registration and pitch to VCs!
This is a loan not an investment
Difficult
Every investment is a loan
@@BILLIONAIREGH Olodo! Which business school did you go?
I don't think He should have taken the offer
Are u a billionaire
I speak from real life experience… health technology in Nigeria isn’t something to write about, the procedure, the protocol and the approval alone can kill one dreams
Aah Balogun
Dope
Why was Temitope willing to have Bolaji invest the 15m for 50% equity. Thats having bolaji owning half your business bro cuz if he agreed the long run is that potential investors in the future will only be buying from your own equity if bolaji isnt will at that time to drop on his share and by that he will technically be the largest shareholder of your business. I am glad he wast bent on his offer.
I've never seen Paul make any investment.
Same here man, man's always out, either he's torn between the devil and the deep blue sea or he's confused, still yet, he'll be out.
😂😂 He does not at all I have seen him invest once
I’ve never seen him invest too, he’s always out lol
He did once
Nigerian Founder gives too much for too little in Funding.
I swear
Here u get mentorship and connections
Bolaji doesnt move. His offers are usually quite set in stone. Not very sure I like that.
But why giving out loan. I thought this show is for investment.
maybe he takes a liking to the guy more than he sees potential in the business. He loaned and invested in it to cover both ends
Don't take bolaji offer, that's a wrong business decision.......
How will you take bolaji offer? you just took unnecessary 10 million liability on your head. This app will not scale. Bolaji played risk free there, kai...if you go out without taking offer oga you will not die...Learn to Consult
It was a good deal to me. 50% equity at 5Million and 10 million at a single digit loan to the business not him and redeemable when cash flow is positive. That a lifeline. Cash is king sir. If the business fail the loan is not a personal loan.
@@solartalkers you did not understand what bolaji said. So the 10 million to the business is still a loan, when you are not generating cash it will accrue, meaning it's growing with interest. The day the company crash the only thing Balaji will lose is 5 million equity money but the 10 million you will pay him back either buy the money gotten from asset sales or if nothing was gotten then he will pay with his own money because it’s a debit.
Since you know the app will not scale, why do you want people to invest in it?
@@ebenezerdn point me to where I said someone to invest? Also, the investment deal given to him was a good deal for the investors and a bad deal for him. So????
@@davidakoko3308 That's his fault. Not the investors'
Paul is always struggling 😅😅
Lol my thoughts too
Paul is the Jenny of Lions Den... always out 😂
Their offers are always set on greed. I don’t like that offer.
Not on agreed.Discerning investors are not jokers.They want to see scalability of they company pitching them.They look at numbers because they are not in the civil service
Dem say Lions den you dey reason say na play.
@BROWN BERRY: Thank God Naija is not a capitalist country and this guys are even lenient.. having a decade of IT experience, I must confess, there’s still much headaches ahead of him, with more research, passion and good marketing.. he can be successful
Did he just give him a loan?
Loan 10million And 5million in 50% equity
This is not a business!
Lmao the offer is ridiculous
Bolaji is always complex to understand
Personally, anyone can do this, so many hospital software's off the shelf that can do this, and with the app not fully developed, I mean apps don't talk a lot to do
The day Paul makes an investment, rapture must be near 🥲
Lol!
Funny enough I have watched him.invested in a guy who came with art work business