If I understand this right, it’s so obvious. Think about it, Nigeria doesn’t have an emergency service that actually works and you need to take into consideration how rundown majority of hospitals are infra-structurally especially in the Mainlands of Lagos for instace. So, having remote and online Emergency Medical Technicians actually seems to make sense. Direct interactive consultations with medical professionals trained in customer support to give first aid directions in emergencies and accidents. Imagine such an app being available during the pandemic, it could have taken a load off the NCDC hotlines.
It's really really early. No product, no customers. These kinds of pitches should be reserved for grant seeking IMO. This way, you get funds to develop the idea, onboard your first set of customers and prove the validity of your idea in the market on however small a scale. Pitching to investors will be a lot easier after this process. That being said #3 million sounds like a lot to have invested without having an MVP yet so who knows how far grants will go. I don't think this is a good deal for a founder that hasn't even generated revenue to be taking.
I think Bolaji will use his connects to get HMOs and Hospitals to get on the app if the app gets completed. For the entrepreneur, that's an early success, getting real users of the product. The question that will now remain is, how many users can they both get in a month/year and how profitable will it run. If the features are delivered as promised and users get really into it, Bolaji will consider apparently buying him out (for a comparatively low price due to the loan servicing arrangement). Eventually, Bolaji will become more superior shareholder. If the app doesn't get users and it flops, dude will still have 10million Naira debt on his plate. I'm not saying it's a bad deal, it's just a lot of pressure to work with and 75% Bolaji comes out on top.
Surprisingly, I have watched all the series, and have checked/followed up on the progress of all the businesses/startups involved. And none has progressed or is available on social media or the Internet. So, it is fair to say, over 90% of them have failed, unless proven.
Exactly. That's why the Nigerian business ecosystem isn't favourable to tech entrepreneurs. This folk should get a C-Corp registration and pitch to VCs!
I speak from real life experience… health technology in Nigeria isn’t something to write about, the procedure, the protocol and the approval alone can kill one dreams
Why was Temitope willing to have Bolaji invest the 15m for 50% equity. Thats having bolaji owning half your business bro cuz if he agreed the long run is that potential investors in the future will only be buying from your own equity if bolaji isnt will at that time to drop on his share and by that he will technically be the largest shareholder of your business. I am glad he wast bent on his offer.
How will you take bolaji offer? you just took unnecessary 10 million liability on your head. This app will not scale. Bolaji played risk free there, kai...if you go out without taking offer oga you will not die...Learn to Consult
It was a good deal to me. 50% equity at 5Million and 10 million at a single digit loan to the business not him and redeemable when cash flow is positive. That a lifeline. Cash is king sir. If the business fail the loan is not a personal loan.
@@solartalkers you did not understand what bolaji said. So the 10 million to the business is still a loan, when you are not generating cash it will accrue, meaning it's growing with interest. The day the company crash the only thing Balaji will lose is 5 million equity money but the 10 million you will pay him back either buy the money gotten from asset sales or if nothing was gotten then he will pay with his own money because it’s a debit.
@@ebenezerdn point me to where I said someone to invest? Also, the investment deal given to him was a good deal for the investors and a bad deal for him. So????
Not on agreed.Discerning investors are not jokers.They want to see scalability of they company pitching them.They look at numbers because they are not in the civil service
@BROWN BERRY: Thank God Naija is not a capitalist country and this guys are even lenient.. having a decade of IT experience, I must confess, there’s still much headaches ahead of him, with more research, passion and good marketing.. he can be successful
Personally, anyone can do this, so many hospital software's off the shelf that can do this, and with the app not fully developed, I mean apps don't talk a lot to do
