|Date/time session||Thursday May 12, 20172.00 -4.00p.m|
|Moderator name||Elizabeth Mbabazi, CDEA Advisory Board Member|
|Rapporteur name||Lydia Kasese, CDEA Advisory Board Member|
|Session Title||Pitching Creative Business for potential Impact investment|
|Session Topic||Pitching Creative Business for Potential Impact Investment|
|Speakers||Broadcasting: Ubongo Kids
HMT MediaKijiweni ProductionsFashion: Shahbaaz SahyedKea Fashion HouseGnajAccessories Design: Uru Diamonds Ruka Farahi Stores
|1. Description of the session (max. 500 words or 1 page) – generic information including the nature of the speakers career work, discussion in the session, main points made by each speaker and the key action points|
1. HMT MediaHMT media has been in existence for 7 years and recently, they started working on children’s animations, that will bring educative and entertaining information to children. HMT media self-funded the pilot, but they needed from the investors $30,000 in order to be able to fully go on with this project in terms of marketing and production. HMT is made up of a group of young and self-taught animators.
Action Points· Images are not children friendly and might be seen as scary· Numbers, what are the projections, the forecast?· Proper breakdown of where the funding will go2. Ubongo & Me
Animation company for children that is educational and entertaining. Already available in a number of countries in various languages. Accessible on all media platforms, tv, radio, online. Very well researched, good breakdown on numbers and forecast. People in rural areas are able to access through vibandas. Requires donor funding in order to further their program and become profitable by 2020. They need $2 million to get where they are going. They have currently accumulated $800k.
Action Points· Consider making their programs available to kids via tablets for children· Presentation was done well and thus was very informative· Investors were impressed with their presentation
3. T-Junction – Kijiweni Productions
Tanzanian based production company that is currently working on their second feature film. $60k was raised for the shooting of the film, however, $15k was requested from potential donors in order to help with post production. With this film they intend to release it throughout East Africa and make their first DVD release.
Action Points· Numbers, projections for return etc. Comment by audience member, “Get used to working with numbers, you beat two blockbusters, by how much?”· They should also look towards other film funding organizations such as “GoodPitch”· The EU will be releasing some money for funding in September, they should be on the lookout for that.
1. Uru Diamonds
Locally made and hand crafted gemstone jewelry. Apart from Tanzania they exist in Kenya and South Africa and hope to eventually open shop in other places as well. They requested funding of $100k that will go into expansion, training and empowering of the locals that provide them with the minerals as well as the locals that make the jewelry. Uru wanted funding from the government, as a local brand that makes jewelry locally and at an affordable price for locals, they felt that the government should take an interest in what they are doing.Action Points· Audience members offered names of organizations and potential contacts that would help with their cause.
2. Fahari Stores
Tanzanian based jewelry brand that was started and is run by women and a few men. They have show-cased their products in places such as Dubai where they did really well, however over the years it has become expensive to be able to go there. The funding they requested would go into purchasing of new modern machinery, something that they are lacking in. It would also go towards training and educating the women that they work with on the making of jewelry as well as working space.
Action Points· They need to work on their presentation and make it something more attractive to look at as people don’t have time to read a lot of information and are easily swayed by images.· They need to invest in a photographer that will take pictures of their products.· They need to work on their marketing both traditionally and digitally.
3. Ruka Jewelry
Recently established bohemian-themed jewelry line based in Uganda. Her presentation was well put together, her numbers were very honest and generally the audience members liked her presentation. One of her challenges is getting consumers to see the value of her product. She requested for $12k for her line that will go into further establishing her line and equipment but most importantly for buying the gemstones that she requires to make her products into what she wants them to be.
Action Points· More research has to be put into it.· Advised to not be afraid of numbers.
Fashion1. Shahbaaz Sahyed
Young fashion designer. Has a small team of 3 people that are partners and currently not receiving any salary in particular. Winner of Swahili Fashion week 2016, emerging designer award. His clothing range is for women of all sizes between the ages of 17 to 35, middle to upper class.
Action Points· Projections are unrealistic, advised to have a look at his numbers.· Because he is still young, he was advised to take time to understand the industry and the numbers as well.2. GNAJ
Ugandan based fashion brand that caters to both men and women. Their pieces are indigenous and are inspired by innovation and Africa. Their main challenges are transportation as well as exportation regulations not forgetting competition from other brands. They requested $50k from donors that will go into the opening of a physical store, manufacturing and production, marketing and e-commerce, mentorship and training as well as building up their staff.
Action Points· Donors were impressed with the presentation and felt that the designer would go far.· Designer however was not in touch with her numbers in terms of sales and total pieces made in the past year.
3. House of Kea
Ugandan based fashion brand that makes functional and affordable clothes: “We don’t do fashion for the sake of dreaming, we want to dream and still attain functionality.” Keziah started off as an architect in Tanzania, but in 2015 decided to pursue her dream of fashion and moved to Uganda to start her fashion line House of Kea.
Action Points· Numbers and projections were an issue for donors.
costs of production,
|“We do not do fashion for the sake of dreaming, we want to dream and still attain functionality.” – Keziah Ayikoru, fashion designer, House of KEA“Get used to working with numbers.” –Stephen Gugu, Co-founder, Viktoria Ventures.|
|4. Any other comments from the audience and response from the pitchers?|
|The audience in general, and this became visible with every person that came to pitch, was concerned about the numbers and projections offered. It appears that a lot of people within that arts are out of touch with financial figures and are not able to either keep track of them, or are not able to interpret them.The audience also encouraged the pitchers to be more honest with their figures and not try to add up on their figures.|