Beta-Ink Ventures and The Zone are two business concepts ENT 201 students pitched in their early steps into venture capitalism, on February 11.
CEO of Beta-Ink Ventures, Todimu Sola-Idowu, described the enterprise as an integrated business outlet that would offer multiple services such as printing, scanning, photocopy, lamination, and engraving
“It will also provide recreational services for fun, relaxation, and fitness.”
The Zone's CEO Anyietie-note-abasi Etim said his is a creative venture providing recreational, wellness, and leisure services to the entire AUN community.
Some of the intended services include bicycle riding, board, and card games, photography, sculpture, paintings, and social networking in a relaxed environment.
ENT instructor, Dr. Lukman Raimi, said the class activity started with 49 Individual Business Concepts (IBCs), which were systematically integrated into eight group business concepts (GBCs) within two weeks.
“After a rigorous process of screening, sifting and idea fortification, two integrated group businesses finally emerged.”
Dr. Lukman added that the essence of the business pitch is to elicit inputs that can enhance the business from the university community, especially the venture capitalists.
A minimum Return on Investment (ROI) of 15 percent is anticipated. Since he took over the course, four businesses have been launched and the performances have been very rewarding, he said.
“The university is going to put in $10,000. So we must demonstrate seriousness and professionalism before going into the business proper,” he told the students before they started making their pitches.
One of the representatives of the venture capitalists, Nnenna Mosugu, an Associate Director in the Finance division, said she was very impressed with the quality of the students’ presentations.
Reported by Omorogbe Omorogiuwa