A total of 29 entrepreneurs managed to strike business deals during the KCB Lions’ Den Season Two which ended towards the close of last year.
The show, which was sponsored by KCB Bank Kenya, saw at least 63 budding entrepreneurs pitch their ideas and negotiate for capital in exchange for a stake in their business.
During the 13 episode show, a total of Ksh 138 million was pledged by the investors, the Lions, with the highest entrepreneur receiving a whooping Ksh 40 million.
“We believe that supporting young entrepreneurs is the best bet in securing a sustainable economic future for the country. These small enterprises are the conglomerates of the future,” said KCB Director of Marketing and Communications Angela Mwirigi while expressing the Bank’s commitment towards supporting entrepreneurship.
The show is expected to go into third season this year.
Most of the businesses pitched in the show cut across various sectors of the economy including agriculture, design, e*******n, energy, ICT, health, publishing, food & beverages, manufacturing, environment, entertainment and service.
KCB had partnered with the Standard Group for the show, whose main aim is to connect entrepreneurs with successful venture capitalists, who have already cut their teeth in the business world. The entrepreneurs are able to get financial, social and intellectual capital for their new and innovative businesses.
“KCB Bank will endeavor to continue supporting the youth as a leading financial catalyst and a mentor. As we start the new year, the youth and SMEs in general are at the core of our business. To ensure that brilliant business ideas are supported to the top level,” Ms Mwirigi added.
The Lions are renowned Kenyan business gurus who are part of the panel and evaluating the ideas before taking the decision to invest. In the season, they included Myke Rabar, CEO Homeboyz Entertainment; Darshan Chandaria, Group CEO and Director of Chandaria Industries; Olive Gachara, Founder and Publisher of Couture Magazine Africa; Kris Senanu, CEO of Blackrock Entertainment and Wandia Gichuru, Co-Founder and MD of Vivo Activewear. The five were also in season one.
KCB Lions’ Den TV show is part of the KCB Group 2Jiajiri programme expected to benefit at least 500,000 youth in a period of five years. The programme, which also encompasses a business challenge for start-ups, enable young entrepreneurs to submit their business ideas for funding.