WENNOHUNT 1.0

PRELUDE PRIME POPULATION

Nigeria remains the most populous black nation on earth, blessed with diverse

natural and human resources, yet plagued by high poverty and unemployment

issues.

BUDDING INNOVATION

Frontier markets like Nigeria provides a fast and cheap route to create jobs thereby

reducing poverty

The PURSUIT

ENCOURAGING STUDENT

ENTREPRENEURSHIP

The focus of this endeavor is to develop Nigerian student entrepreneurs who

would be independent, problem solving, job creating and contributing to the

economic growth of our nation.

PRE-WENNOHUNT The WENNOVATION HUB started in February 2011 with a

goal of providing innovative entrepreneurs with a cheap and

quick means to turn their ideas into bankable businesses via

the provision of our five main services

◦ Access to full office support

◦ Access to Mentors

◦ Access to Business consultants

◦ Strategic Management advice

◦ Access to Funding

The WENNOVATION HUB has proven track records of

businesses she has incubated within the last one year, some of

which were ideas of final year students of Nigerian

Universities

The PHASES

I. The Business Idea Challenge

II. The Business Plan Competition

III. The Incubation Phase

Phase I The Business Idea Challenge: Participants will submit a 2-page executive

summary to be uploaded to our online platform developed for the

competition. Three winners(teams) from each school will win $100 cash prizes

each and will move on to the next phase which will be an inter-university

competition among the winners from the participating schools.

There will also be consolation prizes for the top 5 runner ups which will include

access to exclusive mentoring and business plan templates. Also, winners and

runners up will be matched to form single teams around winning ideas. i.e.

Runners up will be encouraged to join winning teams to give them a chance to

compete in the inter-university event.

Phase II The Business Plan Competition: Participants qualified from their

respective institutions in phase 1 will be required to develop and submit a full

business plan of not more up 20 pages supporting their idea. Clear market

position, competent team, practicality and financial viability in Nigeria are key

issues that will be judged in this plan.

Three overall winners will be rewarded with cash prizes earmarked for

product & business incubation through the Wennovation Camp (based on the

Terms & Conditions). This is an opportunity to work closely with experienced

local and international mentors and also secure further funding for their ideas.

Also, brackets of similar ideas in a Face-Off challenge will be formed to have

ideas from one university compete with another for winners to emerge based

on the quality of development and plan proposed.

Phase III

The Business Incubation Phase: Selected successful

participants from the second phase are drafted into Nigeria’s

foremost business incubation facility, WENNOVATIONHUB, where

their ideas will be transformed into bankable businesses via tested and

proven business strategies and vehicles adopted by the Wennovation

model- they will be matched to mentors (Wennovation Fellows) ,

and will use our Virtual Incubation Platform (VIP).

The award

I. The top three winners from each school at this first Phase will get

$100 each. While, the five runners up will get consolation prizes.

II. Three winners will emerge from this phase who will proceed to

the business incubation phase and their prizes(meant for

incubation) are as follows: 1st Prize:$6,000, 2

nd Prize:$5000, 3

rd

Prize:$4000.

III. The prizes in phase II above will be used for Business development

and Incubation.

IV. Upon success of business development and incubation,

Wennovation Hub will assist participants to raise proof of concept

funds and enter the market as full fledged businesses.

Previous Achievements Name of

Business

Description Web Address Year of

Incubation

Mobiqube Nig

Limited

Application and

software development

www.mobiqube.com 2011

Valleybits

Technologies Ltd

Life style technology

company

www.valleybits.com 2011

Opacus

Technologies Ltd

Consumer -brand

solution company

www.opacustech.com 2011

OTGPlaya Entity

LLC/PCH Nigeria

Smart Devices and

media company

www.otgplaya.com 2012

Ovotek

Technologies

Technology solution

company

http://ovotek.crospat

hs.com

2012

Vertext Media Nig

Ltd.

Media Business

Proposed Timeline

April 1

(4 Weeks)

• Information Sessions, Publicity, Student Ambassadors Meeting @ Schools

• WennoHunt launches at selected universities

May 1

(4 Weeks)

• All Applications for Phase I accepted.

• Selection of winning Ideas in Phase I.

June 1

(4 Weeks)

• Online access to business plan writing resources

• Winners Phase I announced.

• Applications for Phase II opens.

July 1

(4 Weeks)

• Applications for Phase II accepted.

• Selection of winning Ideas in Phase II

August 2nd

• Award ceremony for Winners of Phase I and Phase II & Kickoff of Phase III

The PILOT

Website: www.wennovationhub.com

E-mail : ideaslab@loftyincltd.biz

About Wennovation Hub The Wennovation Hub provides office space, ongoing support, network

& contacts, funding and affordable project support for innovative early

stage companies in Nigeria.

Currently, the following programs are available on the Wennovation

Hub stable for different categories of entrepreneurs:

◦ WennoConsulting

◦ WennoCamp

◦ Wennovation Platform

◦ Wennopreneur-In-Residence

◦ WennoSpace

Thank you