We dig out ideas...
We find professionals in specific sectors.
They describe areas where tech can change things.
We brainstorm product ideas.
If we find a great opportunity, we lock in!
We develop a plan...
We conduct some qualitative and quantitative research, run the numbers, design a prototype, then come up with a business case.
We source funding...
We have a small network of venture partners. We present the business cases to them, if they like it, they provide the capital to go for it. If not, well, sad.
Then, we do our thing!
We help to bring that idea to life and nurse it till it's ready to go off on it's own.
We assemble a product team and build a quick and dirty MVP.
We then run a pilot with a small group of users to take feedback.
We iterate based on that feedback and refine the product and business case.
We find and prep a CEO designate to shadow the team in readiness to run the venture.
Then, we drive the venture to a point when there's clarity of business model.
Finally, we shop around for offtakers who will fund properly to kick the venture out of the lab and run it as a proper company going forward.
Build. Operate. Transfer.
That's our M.O. And we think we are good at it.
And guess what..?
If we are unable to find funding for an idea that seems really good, we jump in ourselves.
We don't have a lot of money though, so we are sort of picky about selection.
And we are currently preparing a pipeline for cohort #2.
Who coordinates the labs?
We are a team of techies and startup heads with a few years under our belts
3x Founder at Nairahost, TIVAS and GetJama. Overall startup Junkie. Ex Nokia, Ex Microsoft. Ex Globacom. Co-founded Mobile Mondays Nigeria. Holds an MBA from Manchester Business School.
Machine Learning Monster. Built a hedge fund based on a proprietary trading algorithm. Served as technology and Ecosystem lead for iDEA Hub. PhD with post Doctorate fellowship from MIT.
Product Junkie. Ex-Interswitch. Co-creator of Quickteller. Certificates from Stanford, Lagos Business School and an egineering degree from University of Ilorin he doesn't use.
Managing Partner, Co-founder
What's in it for us?
We take a piece of equity
When the venture is incorporated and spun off, we take a bit of equity to cover our sweat and effort.
Where we provide the funding, our equity ask is even higher.
Have an idea for our next batch?
We are locked in for now.
But we are maintaining a pipeline of possible ideas to pursue for the next
batch which would likely get activated sometime in the summer of 2019.
If we can get the current cohort out of the labs by then.
We are on track though.