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Dragon’s Den: From Classroom of Fire, Cash

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Episode 3 of the Dragon’s Den was packed with more dramatic energy, more ambitious smooth-talking entrepreneurs, and more ruthless dragons.

The first entrepreneur Aniekeme Friday Bassey came in search of 8 million naira in exchange of 20% equity in a business he believed would solve Nigeria’s electricity problem for good. He came hoping to convince the dragons to invest in a business that would make wind turbine power-generating sets available in Nigeria. He revealed that the wind turbine apparatus generated up to 2 mega watts of electricity, and was currently being employed in Europe, where this technology is responsible for generating more than 40% of the continent’s energy.

Femi Tejuoso’s question initiated his undoing and before long, it was obvious that this entrepreneur’s idea was not only unoriginal to him but he lacked faith in his business plan. He was sent home with only a piece of advice from Ibukun Awosika. 

Emmanuel Achukwu barely escaped being scorched by the infuriated dragons who felt enormously insulted by his bizarre demand for 5 million naira in exchange for 60% equity in a company that would specialize in writing business plans for other businesses when the business plan he had presented to the dragons for this business was flawed by an overwhelming dose of mediocrity, incompetence, and severe lack of any fundamental knowledge in the art of business writing. 

It was not long before this entrepreneur went crashing down with yet another advice from Awosika, "please don’t try again. Go back to school. Make yourself more qualified to do this kind of work- but for now, you don’t have a business."

The third entrepreneur, Alao Olatunji had the idea of starting what he dreamt was a ‘Modern Day Carwash’, and in order to turn his dream into an growing enterprise, he requested for 31 million naira in exchange of 70% equity.

During his presentation he had revealed his plans to roll out a bouquet of car-washing services under the glam titles ‘Flexi’, ‘Supreme’, ‘Instanta’ etc. He pegged the prices for his services at N1, 000.

Attacks came from Chris Parkes, Awosika and John Momoh and Olatunji could not keep up. He lost out!

Michael Ijegwua and his partner Idu Paul went into the den, looking smart, and confident that they were going to secure an investment in a business they had tagged the "Mobile Aided Mail-Box", which was ear-marked to provide a service that would replace the conventional Private Mail Box (PMB) addressing system with a subscriber’s mobile phone number. The idea sounded very brilliant but confusing at first.

However, on closer examination the Dragons discovered it was just a value added service which would prove profitable if only they made plans to work with the postal agency to introduce this concept to their subscribers.

 

They opted out.

The fifth entrepreneur, Walter Asikaro, the chairman of Consolidated Gems Limited, came to expand his business of exporting rough and processed gem stones with a 6 million naira investment from the dragons. But his undoing was not being able to convince the dragons on the legality of the business. He lost out!

Abiodun Bolaji came to ask for 6 million naira in exchange for 60% equity in his refuse disposal business. But indications that he would use bribery to advance his business put the dragons off whom of course, opted out.

The seventh entrepreneur, Jumobi Daniel and his "Jumoby Fruity Eatery" left a fruity taste in the den when he came asking for 5 million naira in exchange of 30% equity in his business, an outlet where fruits can be savored by customers all day long

The dragons on a closer look discovered that his business plan was not feasible, and his idea was not well-researched. They advised him to allow his business to grow from bottom upwards instead of jumping from start-up to becoming a conglomerate.

However, he went home with Chris Parkes 1Million Naira advice only after the dragons had opted out.


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OurTv Secures LaLiga Broadcasting Rights for Nigeria

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OurTV, a DTH free TV broadcast satellite service provider, has secured broadcast rights for Laliga matches in Nigeria.

OurTv Secures LaLiga Broadcasting Rights for Nigeria

OurTV will broadcast Laliga Santander matches live on its Sports Channel 120.

Commenting on the development, Olushola Peters, Head of Marketing of OurTV, said: “This is one major milestone for OurTv and we want to thank our esteemed users, who have always believed and supported us. We value your input and suggestions as it is a core culture in OurTv to listen and please our viewers as much as we can.”

OurTv is a Direct-To-Home (DTH) TV broadcast satellite service with onetime payment of set-up boxes that offers over 18 unique and exciting channels with the use of homegrown services.


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NCC, AVCNU Set Agenda for Model IP Policy for Nigerian Universities

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The first draft of an Intellectual Property (IP) Policy for Nigerian universities will soon be finalised by Nigerian Copyright Commission (NCC), working with the Association of Vice-Chancellors of Nigerian Universities (AVCNU) and the National Universities Commission (NUC).

Mr. John O. Asein, Director-General of NCC, and Secretary-General of the AVCNU, Professor Yakubu Aboki Ochefu, gave this indication at a consultative meeting during a visit of the executives of AVCNU to the Commission’s Headquarters in Abuja recently.

The Director-General said the Commission would fast-track work on the draft IP Policy with a view to entrenching a credible copyright culture in the nation’s tertiary institutions.

“The adoption and implementation of an IP Policy in universities will guide lecturers, students and librarians on their copyright obligations and address the allocation of rights in our institutions of higher learning,” he stated.

Mr. Asein also noted that implementation of an IP Policy would boost the Commission’s national anti-piracy campaign and enhance research and the use of IP knowledge in Nigerian universities. This, he asserted, has become even more imperative in light of the attitudinal changes brought about in the wake of the COVID-19 pandemic.

He decried the lack of copyright policy guidelines for library users in most Nigerian universities resulting in unregulated photocopying by students to the financial detriment of authors. He, therefore, urged AVCNU to assist in the implementation of the understanding earlier reached between the Reproduction Rights Society of Nigeria (REPRONIG) and the AVCNU on behalf of the Universities.

The Director-General remarked that it was an irony that universities were not eager to obtain licences despite the fact that most of the authors would be among the primary beneficiaries. He also advised REPRONIG to explore ways of ensuring that those universities that signed up for its licence obtained value for money.

In his remarks, the Secretary-General of AVCNU, Professor Yakubu Aboki Ochefu, thanked the NCC DG for assisting with the development of a model IP Policy for Nigerian Universities. He disclosed that the plagiarism detection software, Eaglescan, introduced recently for use in Nigerian Universities has helped to check the incidence of plagiarism and copyright abuses in the universities.

The Secretary-General observed that copyright has become a critical issue in Nigerian universities in view of the increasing relevance of the virtual learning environment occasioned by the Covid-19 pandemic. He expressed concern that many universities in Nigeria have no copyright policy and assured that the AVCNU would support the Commission in the development and adoption of the proposed IP Policy for universities to enrich the academic and research culture.

Professor Ochefu further indicated interest in the operations of the Nigerian Copyright Academy (NCA) and assured the Commission that AVCNU would work with the Academy to promote copyright education and enlightenment in the country, especially in the university system.

The visit of the AVCNU officials to the Commission is a follow up to an earlier visit of the NCC management team to the Association’s secretariat in February this year during which the Director-General of NCC advocated the urgent need for a model IP Policy for Nigerian Universities.


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Extreme E Partners StarTimes to Broadcast Series across Africa

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Electric off-road motor racing series Extreme E has signed a three-year agreement with digital TV operator StarTimes to broadcast the series live across the African continent.

Extreme E Partners StarTimes to Broadcast Series across Africa

The deal will see Extreme E’s five-race series aired live to more than 30 African countries including Kenya, Nigeria, Cameroon and Cote d’Ivoire in English, French, Portuguese and other local languages. Season one gets underway in early 2021.

The agreement with StarTimes is the latest broadcast deal to be announced by Extreme E, with the championship also set to partner with BBC (UK), Discovery (Europe and North America), FOX Sports (United States, Canada and the Caribbean), FOX Sports Asia (Southeast Asia), FOX Sports Australia, Mediaset (Italy), Sony India (Indian subcontinent), TVNZ (New Zealand), RTM (Malaysia), Dubai Sports (Middle East), RDS (Canada), China Sports Zhibo.tv (China), RTL 7 (The Netherlands), ORF (Austria), ESPN Africa and BTRC (Belarus).

Commenting on the deal, Ali Russell, chief marketing officer at Extreme E, said: “Extreme E is a top-tier sporting product unlike anything else out there at the moment. Likened to Star Wars Pod Racing meets Dakar Rally, its mission is to drive awareness of climate change worldwide, whilst promoting battery electric vehicles and workable, sustainable solutions. This broadcast partnership with StarTimes is really important for helping to share our messages across Africa, which is an integral location to the series as Senegal’s Lac Rose plays host to our Ocean stage.”

Kristen Miao, StarTimes sports director, added: “Motorsports are getting more and more popular in Africa and at the same time people are increasingly concerned about climate change issues. With Extreme E, they will see that sustainability can also mean excitement and adrenaline. We are delighted to bring this unique championship into millions of homes across Africa.”

 


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