The eighth episode of ‘The Pitch’ Season 1 sees four young entrepreneurs pitching businesses that include a depression app, Nigerian gelato ice cream, organic hair products specifically for African kids, and a unique African educational games service in three Nigerian languages.
The four entrepreneurs were given three minutes each to explain their business models and payment patterns to Ekaete Augustine Edet of Austine & Fortune Hotel Management Services, Lynxxx, - an artist, web and graphic designer, Ikenna Nnoli of Pine Street Capital, and Gbubemi Atimomo of Business in Tandem.
Tolulope Gideon, a mobile game developer and CEO of Avena Games, opened this edition of the TV show with a quote from Walt Disney. The young entrepreneur utilised his allotted three minutes to pitch on the viability of his indigenous mobile game app company. Gideon went on to explain how his company intends to put the loan into good use through marketing and expanding the frontiers of his business.
Gideon is followed by Amara Okoli Peace, the CEO of Mara Cruz Organics, a hair organic product, sourced from local materials. Amara narrated how she arrived at making hair organic products for African kids’ hair care. She ends her presentation with a repayment plan if given the N10 million loan. She tries to woo the corporate giants by giving them samples of her products to try.
The third participant to dazzle the corporate giants on the first episode is Samaiye Titilope of Melting Moments. The gelato-making expert discussed the need to indulge in her product without feeling guilty or worried about any health implications.
Ireoluwa Ige, the fourth participant, gave a unique pitch. The young entrepreneur pitched a mobile app that will help curb depression, which is fast growing in Nigeria and other parts of the world.
Speaking on the show, Ekaete Augustine Edet said, “The part I love most about the show is that part that you bring these brilliant people together and you teach them how to make their presentations and then you tell them to come and pitch their businesses. What I say is even if you are not the person that wins the money, you have learned something:, you have learned how to structure your business, you have learned how to put processes and procedures in place for your business. So, you take something away and it’s different.”
‘The Pitch’ gives budding entrepreneurs an opportunity to pitch their business ideas to established corporate world giants. The top Pitch will then be funded with the sum of N10 million from Sterling Bank to expand its businesses.
After each pitch, the established corporate gurus discuss and decide on the viability of the businesses with a mindset of repayment plan for the fund, which is a loan and not a grant.
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