Entrepreneurs in Nigeria with great ideas will soon be provided a platform to give it expression as the United Bank for Africa (UBA) Plc in association with MTN Nigeria brings the widely successful business television show, Dragons Den to Nigerian television viewers.
Dragons Den is one of the hottest television reality formats in the global television market. Developed by Sony Pictures, the show has been a hit around the world, including UK, Canada, Australia and New Zealand. Thanks to UBA and MTN, Dragons Den Nigeria will be produced in Africa for the first time in the history of show.
The idea behind the show is to give aspiring entrepreneurs, known as “Pitchers” the opportunity to present their business ideas to a panel of five “Dragons”, i.e. successful entrepreneurs and investors. The Pitchers must make their pitch to the Dragons and tell them how much money they need to meet their goals and how much equity (ownership) they are willing to give up in return. Each Dragon brings N10 million of his own money to the table, thus putting a princely sum of N50 million of potential investment up for grabs, the biggest amount in the history of African reality television.
Giving more insight on the show,which will debut in February 2007 with call for entries, Mrs. Celine Loader, Divisional Head, Corporate Communications, UBA Plc, said the show would provide Pitchers with every opportunity the to part the Dragons from their money. Moreover, she also expressed UBA’s commitment to the socio-economic uplift of the regions within which the group operates saying, “Dragons Den is unlike any other reality show currently on television. Apart from its signature ‘nail-biting’ tension scenes, it also has a lot of educational value. Nigeria is a nation of highly enterprising and hard working people, many of whom just need the guidance of a seasoned mind and adequate funding to get their dreams off the ground. Dragons Den aims to entertain and educate viewers on how best to go about selling that great business idea.”
UBA, she said, is Headline Sponsor of the Dragons Den Nigeria because of its belief in the importance of Small and Medium Enterprises as the engine of every economy. “Dragons Den represents an extension of UBA’s commitment to the development of the SME sector, through funding, advisory services and other areas of support.
On its part, MTN Nigeria has described its association with Dragons Den as a continued demonstration of its “Can Do” value and GO philosophy. According to its Senior Manager, Consumer Brands, Mr. Biodun Odejayi, “MTN believes in connecting to people’s passions in life so that they can go and achieve their dreams. Dragons Den will certainly empower a lot of young Nigerians to go forth and bring their dream projects to life.”
Dragons Den Nigeria is produced by Storm Vision, one of Nigeria's leading television production companies whose mission is to set the standard for dynamic and innovative content, programming and production services and facilities for TV, film and interactive platforms. Past Storm Vision productions include Brother Nigeria, Doctors' Quarters and Amstel Box Office (AMBO).
On how he feels the show would impact on Nigerians, Remi Ogunpitan, Managing Director of Storm Vision, said, "This will be another top class Storm production. There will be no other show like it. Although it would appear like a TV game-show, it is not a game. The Dragons are putting up their own money and the Pitchers are presenting real business opportunities. In addition to being great entertainment, Dragons Den Nigeria gives viewers an inside look into how to present and how not to present a business idea. It also shows how potential investors make decisions about where to put their money."
Pix (From Right) Mr.Ogunpitan,Mrs.Loader of UBA and Mr.Biodun Odejayi of MTN
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