KCB Bank has brought to Kenya the globally acclaimed ‘Lions Den’ business reality television show to provide entrepreneurs a growth platform by connecting them with funding and mentorship opportunities.
The locally produced Lions Den show has put together five successful and renowned entrepreneurs and venture capitalists, who will act as judges, reviewing business ideas to be considered for capital injection.
“We are asking budding entrepreneurs who have a bankable project or proposal to step up and audition for the KCB Lions’ Den show,” said KCB Marketing & Communications Director, Angela Mwirigi. “This show will provide entrepreneurs with a forum to present their ideas to a group of investors and if they like the idea, they stand a chance to walk away with investment partners.”
The reality TV show, the first of its kind in Kenya, is a variation of the original show that was first aired in Japan and has now been produced in over 30 countries. The show targets entrepreneurs who have a good business idea with a concrete business plan and have an established business but need to raise funds to advance their business further. The application forms can be found at any KCB Bank Kenya branch nationwide or through the online portal, www.bankika.co.ke.
The Den consists of five Lions, who are well-known investors, venture capitalists and respected entrepreneurs in Kenya. “They hold the ticket to the capital and business acumen for those entrepreneurs who make it into the den. Entrepreneurs will have to answer tough questions before they can convince the lions to invest their own money in exchange for equity in the entrepreneurs business,” said Ms Mwirigi.
Lions’ Den is powered by KCB Bank Kenya and will exclusively air on NTV every Monday at 8pm beginning September 26th, 2016. The reality TV series first season will consist of 12 episodes each running for 45 to 60 minutes.
KCB is hoping that by introducing this show to Kenyan television, it will not only help offer a new direction for business development in Kenya, but also increase financial literacy among Kenyans. KCB has other projects targeted at encouraging and amplifying an entrepreneurship culture, in Kenya such as the 2jiajiri initiative, a skills development project aimed at creating over 2.5 million jobs in five years.
With over 40% of the youth in Kenya between 15 and 34 years old unemployed, KCB is pushing for entrepreneurship as a solution to the high unemployment levels. Opportunities such as KCB’s Lions Den and 2jiariri will go a long way in boosting the number of youths entering the job market annually, she said.