Hello to all,

For quite sometime I have been overwhelmed by the number of help requests I receive in my private messages. At the beginning I have tried to help but at some Point I began to wonder.

It is my belief that majority of people seeking help in this platform are scammers or unserious people. Still there are some who are genuine and it is not always easy to discriminate among them. I guess many here have made the same observation.

It could be a good idea to organize a contest every 2 years for the best start up project. The winner receives a financing of a million naira.

How to finance it? For the first year, 10 people give a 100k to a Moderator / Administrator. The money is kept into a Trust/Fund which will manage the interest of the Contest. At the end of each session, the selected project is financed but the Trust keeps 40% ownership of the project for 5 to 10 years. After that period the Trust pulls out its funds and the winner can continue with his project.

The proceeds from one project can help finance the next one. And the cycle goes.

This is a basic idea. The ultimate aim is to give a chance to serious people looking for an avenue to make it, while discouraging the scammers. It also gives an opportunity to those who wanna help (and they are many) to do so in a constructive manner.

If nairaland has a yearly party event or beauty contest, there should definitely be the possibility of having a start up contest too.

Let me know what you people Think.

Cc Seun, Lalasticlala, mynd44, HardMirror, Hahn, Johnydon22, Ifenes, Pastoraio.

Good one

Good one Loj, i hope i would see the multitude of those claiming to have good ideas but no money here. I think most nigerian youths are used to dash-outs. They expect 'helpers' of destiny (as it is said in most prayers) but they are not prepared for delivery when opportunity comes.

This is a welcome development. Seun what do you think?

It will be better to give the money raised to some youth who has already started something small but is struggling for finance e.g. in order to expand or buy a better machinery.

The reason being, if given to someone with photocopied business plan , that money will be diverted somewhere else.

Rubyventures:
It will be better to give the money raised to some youth who has already started something small but is struggling for finance e.g. in order to expand or buy a better machinery.

The reason being, if given to someone with photocopied business plan , that money will be diverted somewhere else.

great idea!!! Totally seconded

LoJ:
Hello to all,

For quite sometime I have been overwhelmed by the number of help requests I receive in my private messages. At the beginning I have tried to help but at some Point I began to wonder.

It is my belief that majority of people seeking help in this platform are scammers or unserious people. Still there are some who are genuine and it is not always easy to discriminate among them. I guess many here have made the same observation.

It could be a good idea to organize a contest every 2 years for the best start up project. The winner receives a financing of a million naira.

How to finance it? For the first year, 10 people give a 100k to a Moderator / Administrator. The money is kept into a Trust/Fund which will manage the interest of the Contest. At the end of each session, the selected project is financed but the Trust keeps 40% ownership of the project for 5 to 10 years. After that period the Trust pulls out its funds and the winner can continue with his project.

The proceeds from one project can help finance the next one. And the cycle goes.

This is a basic idea. The ultimate aim is to give a chance to serious people looking for an avenue to make it, while discouraging the scammers. It also gives an opportunity to those who wanna help (and they are many) to do so in a constructive manner.

If nairaland has a yearly party event or beauty contest, there should definitely be the possibility of having a start up contest too.

Let me know what you people Think.

Cc Seun, Lalasticlala, mynd44, HardMirror, Hahn, Johnydon22, Ifenes, Pastoraio.

Angel investor....


How will they share research and pool their their investment capital. No free launch bro.....

Rubyventures:
It will be better to give the money raised to some youth who has already started something small but is struggling for finance e.g. in order to expand or buy a better machinery.

The reason being, if given to someone with photocopied business plan , that money will be diverted somewhere else.

A small project looking for financing also qualifies as start up project in my opinion. Start up does not mean from scratch.

CC. hardmirror

vaxx:
How will they share research and pool their their investment capital. No free launch bro.....

I do not understand.

LoJ:

I do not understand.

i mean how will the angel investors get return from the business they fund? What will be their percentage ? The 40 percent right?

LoJ:

A small project looking for financing also qualifies as start up project in my opinion. Start up does not mean from scratch.

CC. hardmirror

I feel it will be better to focus on these ones for now. I have several websites that need funding as in right now sef

cc: hungerbad

vaxx:
i mean how will the angel investors get return from the business they fund? What will be their percentage ? The 40 percent right?

This is not ángel investing.

10 people offer 100k for the project. I am sure there are many here who can afford that without much worries.

That money is placed into a Trust / Fund. The fund manages the money and the contest in such a way that by financing one project they generate enough revenues to finance the next contest and projects.

So it is a social program but a constructive one, designed in a sustainable way. Of course the idea is opened to suggestions, Improvements.

hahn:


I feel it will be better to focus on these ones for now. I have several websites that need funding as in right now sef

cc: hungerbad

no be you? When has hann never needed more money. I fear you o

Amazing

HardMirror:
no be you? When has hann never needed more money. I fear you o

He should be the one contributing 500k sef.

LoJ:

This is not ángel investing.

10 people offer 100k for the project. I am sure there are many here who can afford that without much worries.

That money is placed into a Trust / Fund. The fund manages the money and the contest in such a way that by financing one project they generate enough revenues to finance the next contest and projects.

So it is a social program but a constructive one, designed in a sustainable way. Of course the idea is opened to suggestions, Improvements.

Honestly, i am still trying to wrapped my head on such idea. We the people offering the 100k do it without expecting anything in return? We they get their invested capital back?

HardMirror:
no be you? When has hann never needed more money. I fear you o

Just trying to be like you my oga sir

Tuale sir

vaxx:
Honestly, i am still trying to wrapped my head on such idea. We the people offering the 100k do it without expecting anything in return? We they get their invested capital back?

Investors make money when they still their share of the business. Profits from the business only increases the value of their holdings.
OP's point is; the Fund(investors) holds 40% of the business which they can divest after a period say 5years and move on to fund other businesses.
Brilliant idea but needs a lot of fine-tuning.
Mention me if this gains traction.

My idea needs 20 Million and a sure hit. I won't even share it in public, only to investors who must sign NDA.

Good idea op.

Connoisseur:


Investors make money when they still their share of the business. Profits from the business only increases the value of their holdings.
OP's point is; the Fund(investors) holds 40% of the business which they can divest after a period say 5years and move on to fund other businesses.
Brilliant idea but needs a lot of fine-tuning.
Mention me if this gains traction.

why not develop packages then, just lift stocks. The more you invest, the more you return/shares.some people may want to invest more than 100k or less. Loj

I'm an aspiring artiste with plans to start a record label. I have learnt a lot about the industry and now I'm working on networking though Funding is my major problem. Anybody who has interest in music business should please contact me. I reside in portharcourt though I'm currently in Umuahia.

What happened to this?

@ LOJ, hardmirror

hahn:
What happened to this?

@ LOJ, hardmirror

The idea was good unfortunately lazy Nigerian youths wanted the easy way. They flooded my mail with help requests instead of supporting this idea that could have led to major breakthroughs. I received countless help requests within few days, I just had to let the thread die.

People were not willing to contest, but they want to receive handouts. I will pass

LoJ:

The idea was good unfortunately lazy Nigerian youths wanted the easy way. They flooded my mail with help requests instead of supporting this idea that could have led to major breakthroughs. I received countless help requests within few days, I just had to let the thread die.

People were not willing to contest, but they want to receive handouts. I will pass

Lol. I can imagine