The first Unreasonable Labs Business Model Validation Lab has taken place in Sierra Leone, with 11 startups selected for the five-day programme culminating with the award of US$3,000 to the top performing startup.
11 startups from around Sierra Leone were invited to participate in the first Business Model Validation Lab, which was a five-day intensive training programme aimed at preparing companies to secure customers, build prototypes, identify key cost drivers, develop strategic plans, and more.
The chosen startups spent the five days with mentors who helped participants to critically analyse their businesses and define new growth opportunities. In addition, the participating companies were given the chance to network with each other, and other like-minded entrepreneurs.
“These entrepreneurs were something special. They have the kind of creativity and zeal that it takes to tackle big problems and create jobs with innovative business solutions,” said Unreasonable Lab Sierra Leone’s Business Model Validation Lab director, Kim Beevers.
“This was a unique opportunity for entrepreneurs to participate and to foster an emerging ecosystem and to connect with other new and experienced entrepreneurs and investors that will help to drive growth in Sierra Leone.”
On the last day of the programme, the startups presented their work and progress to a panel of judges, with one company – soap producer CBBA Incorporated – winning the first prize of US$3,000.
A second prize of US$1,500 was awarded to Skytech, a company that provides marketing, research and media services to small and medium-sized enterprises (SME)’s in Sierra Leone.