8 Start-ups to headline NESG’s maiden pitch contest
by FRANK ELEANYA
September 15, 2017 | 7:00 am| | | Start Conversation
Eight start-ups will get the opportunity to pitch for the first time at the 23rd edition of the Nigerian Economic Summit Group (NESG).
The Start-ups Pitching Events at the NESG is aimed at exposing new Nigerian businesses seeking to raise funds with potential investors.
Eligibility for the pitching deck includes registration in Nigeria with the Corporate Affairs Commission (CAC); doing business for no more than three years; and engaged in any sector of the Nigerian economy.
The Nigerian Economic Summit is an annual conference organised by the Nigerian Economic Summit Group (NESG) in partnership with the Federal Republic of Nigeria through the federal Ministry of Budget and National Planning.
The summit with the theme “Opportunities, Productivity & Employment: Actualising the Economic Recovery & Growth Plan” is the flagship event of the NESG and the federal government that provides a widely recognised platform for top policy makers and corporate leaders.
According to a source, the NESG plans to leverage the pitch contest to encourage funding discussions for the startup community in Nigeria.
To ensure success of the pitch contest which will take place during the summit from October 10 and 11, the NESG has partnered notable fund raising institutions such as Venture Capital for Africa (VC4A) and Lagos Angels Network (LAN).
LAN is the premier angel network in Nigeria and one of the most active in Africa. It has invested in over a dozen Lagos start-ups. VC4A is the Africa platform for startup funding and the largest online community of entrepreneurs and investors dedicated to building game changing companies on the continent.
All selected startup will have 5 minutes to pitch to prospective investors and 10 minutes to answer questions from them.
According to a post on VC4A website, applications for the start-ups have since opened on their platform and will end on September 22, 2017.
“Many start-up entrepreneurs struggle to get the funds they need to grow their business and in some cases even require mentorship, professional advisory services, etc. Innovators and entrepreneurs from all over Nigeria would have an opportunity to pitch their start-ups and this is a platform for such businesses to collaborate and interact with individuals and organisations interested in promoting entrepreneurship and an opportunity to pitch to experienced investors and obtain great feedback and possibly capital,” VC4A wrote in its post.
Selected start-ups will be announced on September 30 and the entrepreneurs will be invited to make formal pitches on October 10 and 11 to a closed group of investors at the Transcorp Hilton Hotel.
“Eligible ventures must be in the early customer/revenue stage. Prototype or concept stage ventures will not be considered. A number of investors have been confirmed and will be announced shortly,” the VC4A noted in the post.
Shortlisted start-ups will be determined by VC4A’s platform tools
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