Fusing Creative Entrepreneurship, Innovation, and Seed Funding
In a celebration of creativity, innovation, and entrepreneurship, Madhouse by Tikera Africa, in collaboration with the University of Lagos, held its inaugural Demo Day Competition on June 28th. The event brought together creative minds, industry experts, and academia in a bid to empower creative entrepreneurs and foster growth in the creative industry. MARY NNAH highlights the key takeaways from the event, which saw participants from the Lensbased incubation programme pitch their businesses to win $10,000 in seed funding
In a bid to support creative entrepreneurs and emphasize training and capacity development, Madhouse by Tikera Africa, in collaboration with the University of Lagos, held its inaugural Demo Day Competition on Friday, June 28th. The event, which took place at Madhouse, University of Lagos, Akoka, saw participants from the Lens-based incubation programme pitch their businesses to win $10,000 in seed funding.
According to Udoh Christopher Emmanuel, Manager of Madhouse by Tikera Africa, the event was part of the activities at Madhouse, which aims to discover and nurture creative talents across Africa.
‘Today is unique because we have three different events happening at the same time. We started with the Trash to Art Workshop, where we had creative people turning trash into something very useful. Then, we had a panel discussion on building sustainable creative enterprises, where experienced professionals shared their insights and experiences. Finally, we ended with our inaugural programme, the Lens-based incubation programme, where participants pitched their businesses to win $10,000 seed funding,” he said.
Emmanuel emphasised the importance of creative education and entrepreneurship, stating that Madhouse provides skill development programs, community networking events, and creative financing for African creative entrepreneurs.
He also highlighted the selection process for the Lensbased incubation programme, which considered strong vision, scalability, and uniqueness of business ideas, noting, “We painstakingly took almost one month to select the participants from Nigeria and different African countries, and we ended up with 20 participants in total. Unfortunately, seven couldn’t make it to the final stage, but we are proud of the 13 participants who made it to the Demo Day pitch session.”
The event featured a panel discussion on building and sustaining a creative business, with experienced professionals sharing their insights and experiences. The panellists emphasised the importance of consistency, execution, and building structures around business ideas.
“All the panellists that came today have creative businesses that, if you combine all of their experiences, have span over 50 to 60 years, and that speaks to the fact that they are doing something right,” Emmanuel said.
Emmanuel stated that the goal of the programme is to build the biggest community of creatives in Lagos, Nigeria, and Africa, and to provide a platform for creative entrepreneurs to showcase their talents and businesses.
“We are interested in creative education and creative enterprise, and how you can take your creative business to the next level. That’s what our narrative is, and that is what we keep on pushing,” he said.
As the event drew to a close, the Madhouse Manager urged creative entrepreneurs to take advantage of the opportunities provided by Madhouse and the University of Lagos to develop their talents and businesses.
“We are mad in itself, which means making a difference. That’s a house of making a difference, and for us, that is what we are trying to do in terms of how we select participants, how we engage them, and push them into the world at the end of their programmes”, he noted.
The Vice-Chancellor of the University of Lagos, Professor Folasade Ogunsola, emphasised the university’s commitment to creative entrepreneurship and innovation, stating that the collaboration with Madhouse aligns with the university’s goals of developing manpower for the nation.
“Our school, right from inception, was established to provide manpower for the nation, and we were the first institution established by Nigeria for manpower. And you would have to agree with me that over the years, as the nation’s population has increased, and we have a very young population with a high unemployment rate, it became very clear to us that we needed to develop manpower for people who were going to be employers of labour, rather than chasing the job market that does not exist,” she said.
Ogunsola noted that the university recognises the importance of creativity and talent in arts, and the need to develop these talents into businesses. She also emphasised the impact of the collaboration on students and faculty, stating that it provides an opportunity for them to turn their talents into businesses. “
We also recognise that all the talents and resources we need are not within the university, so it is part of our partnership with the town to ensure that we bring the best of both worlds to our students, and that is why we are partnering with Madhouse,” she added.
The Demo Day Competition saw 13 participants pitch their businesses, with one winner taking home the $10,000 seed funding.
Ogunsola encouraged the participants to be consistent, execute their ideas, and build structures around their businesses. She also emphasised the importance of originality, scalability, and emotional connection in business.
“As one of the judges for the Madhouse Demo Day Competition, I looked out for originality, scalability, and things you can connect with emotionally, as well as business skills,” she said.
Madhouse Photo 2 Caption:
L-R: CEO Pulse Africa, Katharina Link; Artist and Lecturer, Department of Creative Arts, University of Lagos, Dr Bolaji Ogunwo; Founder Tikera Africa, Bayo Omoboriowo; Winner of the Madhouse demo day competition, Tunde Raphael; Professor of Entrepreneurship Hub and Strategic Management, Professor Sunday Adebisi; Chairman ISN Hubs, Charles Emembolu; and Executive Director, VFD Group, Adeniyi Adenubi at the event
