Unreasonable Lab Nigeria

Lagos // June 6 – 10, 2016

Application Closed!

What:
This Nigeria Investment Preparedness Lab is a 5-day accelerator designed to help Nigeria-based ventures understand the fundraising process and become ready to take on investment. Our ultimate goal is to get more funding flowing to Nigerian ventures.

Why Nigeria?:
Nigeria is a fast growing economy with several budding entrepreneurs who are passionate about building businesses that MATTER. Confronted by the economic challenges of a developing nation, the spirit of business is rapidly being awakened in Nigerians as more unemployed youths are towing the entrepreneurial path. This has presented such a great opportunity to help maximize the potentials of these budding entrepreneurs through a practical startup lab.

Through this Lab, young Nigerian entrepreneurs will have access to empowering trainings that will sharpen their entrepreneurial skills and meet mentors that will provide ongoing strategic guidance as they progress on their entrepreneurial journey. This ecosystem of entrepreneurial support is not sufficient for the ever increasing number of Nigerian entrepreneurs and we’re going to close this gap with the Unreasonable Nigeria startup Lab.

We invite you to join us!

Get Involved: Apply to be an entrepreneur, become a mentor, be a sponsor, or help our Lab team find entrepreneurs. Read on to get involved!

The Problem

Fundraising can be a hard, confusing, and long process. How much money should I raise? What type of capital? Whom do I talk to and how do I build relationships with funders? What should I do in an investor meeting? How to I get the money into our bank account so I can get back to building my business? Having an answer to these questions often translates into successfully closing a round of funding. But the reality is that only a handful of entrepreneurs have a clear understanding of the process (and how long it takes) before they start fundraising. They get lost and without direction, they do not take the lead and closing a round becomes painful and time consuming.

The Lab & Curriculum

The Investment Preparedness Lab is designed to do one thing: help entrepreneurs be more prepared to raise funding. Entrepreneurs will:

Understand the steps of the investment process and what is needed to be prepared at each step.

Diagnose where a venture is in preparedness for those steps, build a full plan for how to get ready, and actively work to get more prepared.

Meet with actual funders to get feedback and practice building investor interest.

Daily Schedule

The curriculum of the Lab oscillates between in-classroom workshop time and tons of hands-on work time.

  • Connector.

    Day 1

    Starts with a brief orientation and workshop that demystifies the fundraising process, followed by an afternoon dedicated to starting to build a strategic plan.

  • Connector.

    Day 2

    Starts with building financial statements then learning about various types of capital. During the afternoon entrepreneurs will design a fundraising action plan.

  • Connector.

    Day 3

    Begins with a workshop on how to build powerful relationships with funders, followed by a pitch workshop. Then entrepreneurs will build a massive list of potential funders.

  • Connector.

    Day 4

    Capital Advisor day when experts in early stage funding will attend the Lab to work directly with and give feedback to the entrepreneurs.

  • Connector.

    Day 5

    Spent on deal negotiation, getting important due diligence materials together, and designing an action plan for the next three months.

Tangible Outcomes

By the end of Lab entrepreneurs will have something to show for their work. They will have:

  • Learned what the fundraising process looks like from start to finish and the elements needed to succeed in raising funding
  • Diagnosed how prepared (or unprepared) they on these various elements of funding preparedness, giving them a snapshot of where they are
  • Actively worked on various elements to become more prepared to raise funding (for example: develop their financials, write a strategic plan, clarify their funding ask, develop their pitch materials)
  • Created a list of at least 30 potential funders and learned quick research and outreach techniques to find and connect with even more when they leave
  • Learned a methodology for how to build strong relationships with funders – relationships that get stronger over time which will help make their funding case stronger over time
  • Completed funding readiness “reality checks” with 4 – 5 real funders and received real and honest feedback on their investment preparedness
  • Designed a strategic plan to become funding ready and identified the tools to get there
  • Drastically increased their confidence level about leading an investor meeting which will lead to far more productive meetings with future potential funders

Capital Advisors

Banks Benitez

Scott Onder

Helen Anatogu

Michael MacHarg

Olubunmi Abayomi-Olukunle

Mentors

This Lab will actively involve a diverse set of mentors. These mentors will be custom-selected after selecting the Lab ventures to assure mentors meet their needs. Interested in mentoring? Contact Us

Adegite Victor

Adegite Victor

Olawunmi Olatunji

Adeniyi Sotade

Victoria Madedor

Pipeline Partners

Pipeline Partners are organizations that help us find the entrepreneurs. Like us, they support entrepreneurs doing good in the world. If you want to become a Pipeline Partner for this Lab, please Contact Us

Supporters

We are looking for early supporters!
Interested in sponsorship opportunities? Contact Us

FAQ’s & More About This Program

Application and Selection
You can apply at the top of this page. There will be a pink button that says “Applications Open // Apply Now”.
Entrepreneurs who are eligible are:

  • Committed to social and environmental impact with their venture
  • Idea-to-early-stage ventures that are looking to raise capital in the next 6-12 months
  • Based in Nigeria
  • For-profit or non-profit
  • 18 years of age or older
This Investment Preparedness Lab is designed for early- to mid-stage entrepreneurs who are:

  • Preparing to take on capital in the next 6-12 months
  • Have generated sales and have paying customers for their product or service
  • The Investment Preparedness Lab can serve entrepreneurs in the prototype/pilot stage, the early customer traction stage, and established customer traction stage.

Entrepreneurs will complete the short online application (link above). Then the Unreasonable Lab Team will review all submitted applications and schedule 30-minute interviews with those who move on. After the interviews, 10-12 entrepreneurs will be offered a spot in the Lab.
Lab entrepreneurs will pay a subsidized fee based on the available sponsorship.
Lab Details
If you are accepted to attend the Lab, we will ask that you attend the Lab in its entirety. The curriculum is cohesive and builds upon itself, meaning that if you miss a day, you will be at a significant disadvantage.
Each Day is different!

The Lab will feature both time in the classroom and time dedicated to working with mentors. Throughout the course of the Lab, you will have plenty of time to work and rest. Taking time to digest the material is an important piece of acceleration!

Day 1: Day 1 starts with a brief orientation and workshop in the morning, followed by an afternoon dedicated to building a strategic plan.

Day 2: Day 2 starts with two workshops designed to build the entrepreneurs’ financial skills. During the afternoon entrepreneurs will design a fundraising action plan.

Day 3: Day 3 begins with a workshop on how to build powerful relationships, followed by a pitch workshop. Then entrepreneurs will build a massive list of potential funders.

Day 4: Day four is Capital Adviser day when experts in early stage funding will attend the lab to work directly with the entrepreneurs.

Day 5: Day 5 is spent on deal negotiation, getting important due diligence materials together, and designing an action plan for the next three months.

No, participants are expected to handle accommodation on their own.
You will only gain access to the network of mentors and entrepreneurs who attend this Lab.
Be a Supporter
If you are interested in being a mentor we would love to share a conversation with you.
Click here to contact Us to discuss becoming a mentor.
We call the people who help us find venture Pipeline Partners. If you are interested in helping us find ventures we would love to share a conversation with you. click here to contact Us to discuss becoming a Pipeline Partner.
We would love to explore sponsorship opportunities with you. Click here to contact Us to discuss sponsorship opportunities.

Our Team

Here is the team that made this happen.

Olufemi
Omotayo

CEO Entrepre-NEWS.com, Lab Founding Team

Temidayo
Akin-Golde

CEO AkinGolde Marketing, Lab Team Member

Tito
Philips, Jnr.

Founder naijapreneur.com, Lab Founding Team

Shaina
Silva

Venture Developer, GenerationEnterprise.com, Lab Team Member

Michael
Olorunninwo

Co-Founder QAspen.com, Lab Founding Team

Ifeanyi
Okolo

Founder Pass4Life.com, Lab Team Member

Oluwadamilola
Agboola

Digital Media Consultant, Lab Team Member