Potential entrepreneurs seek funding from business tycoons

05:22 AM 2016

The main challenge cited by many budding entrepreneurs is lack of adequate capital in the country, these developing entrepreneurs got chance to present their business proposals in to court potential funders. As per to the New Times, one of such sessions was held, yesterday, at K Lab where a group of young Rwandan entrepreneurs presented their business ideas for funding to a team of international investment moguls for possible partnership or a stake in their enterprises.

The entrepreneurs, who were seeking a total of $205,000 (about Rwf153 million) stakes in their firms, presented their project proposals to the investors who included Seth Merrin, the founder and chief executive of Liquidnet; Eugene Nyagahene, the chair of TELE10 Group; Angela Homsi, a global impact investor; and Jason Merrin, an American film-maker.

Entrepeurs following the presentation of budding entrepreneurs.

Antoine Kajangwe, Kajangwe was seeking $20,000 for a 20 per cent stake in his firm to increase presence of the digital tops on taxis he has already signed contracts with. Two investors, Homsi and Nyagahene, expressed interest in his firm and have entered negotiations. Nyagahene of TELE10 Group and Seth Merrin are in the progress of availing some of the capital to so of the firms.

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