In an official statement released in Lagos on Wednesday, Mr. Femi Da-silva, the Chief Executive Officer of AfriSAFE, unveiled the “AfriSAFE Safety Idea Capital.” This pioneering initiative is designed to revolutionize the HSE landscape by connecting aspiring entrepreneurs with a distinguished panel of accomplished individuals, aptly named “Guardians,” who are prepared to fund these innovative concepts.
Mr. Da-silva emphasized that these dedicated Guardians, committed to advancing HSE initiatives across Africa, eagerly invest their resources in exchange for equity in the presented ventures, with the goal of fostering innovation in the HSE industry.
“Are you ready to take the leap with your groundbreaking idea? The Guardians are prepared to provide individual investment capital of up to 5 million Naira, offering a unique opportunity for entrepreneurs looking to make a lasting impact in the HSE field,” he stated.
According to Da-silva, emerging entrepreneurs will have the opportunity to present their ideas at no cost during the AfriSAFE Career/Empowerment Fair, which will be held at the Federal Palace Hotel, Victoria Island, on November 10.
The Empowerment Process:
Entrepreneurs participating in the AfriSAFE Safety Idea Capital will follow a set of rules to ensure a fair and transparent process.
- The Presentation: Entrepreneurs will introduce themselves, their enterprises, the investment they seek, and the equity share they are willing to offer. They have up to two minutes to present their groundbreaking HSE solutions.
- The Q&A: Entrepreneurs can respond to questions posed by the Guardians, a pivotal moment that influences potential investments. They can also question the Guardians to assess compatibility with their vision.
- Opting for Empowerment: Once all Guardians express their investment decisions, an entrepreneur’s participation concludes. Guardians who opt out cannot re-enter negotiations related to the venture.
- Investment Partnerships: Entrepreneurs must secure at least the total investment sum initially requested. They can explore additional investments if a Guardian offers less.
- Collaborative Empowerment: Entrepreneurs should persuade multiple Guardians to meet their financial requirements.
- Declining Empowerment: Entrepreneurs retain the right to decline investments if they believe it’s not the right fit for their vision.
- The Empowerment Deal: Agreements are built on trust and integrity, relying on due diligence checks. Future negotiations beyond the program do not create legal obligations.
- HSE Support: Entrepreneurs can have a pre-approved advocate from their HSE venture on standby to address the Guardians’ questions.
Note that both the guidance and entrepreneurs strongly recommended to retain legal representation during the final closure. These legal professionals play a pivotal role in bringing all elements together, culminating in a formal legal partnership agreement.
The process begins with the event, which acts as a catalyst for innovation. However, it’s crucial to note that the journey doesn’t conclude with the event itself. It continues even after AfriSAFE, ensuring sustained support and development for the ventures that secure investments.
To pitch your idea, click on the link below to register and secure your spot:
Additionally, Mr. Da-silva mentioned that the event will include enriching discussions on safety, health, sustainability practices in the workplace, and more, such as:
- Empowerment Fair
- Inspiring insights from top CEOs
- Mentorship
- Networking opportunities
- Complimentary meals
- Numerous prizes to be awarded
To attend the AfriSAFE Career/Empowerment Fair, register with the link below: https://docs.google.com/forms/d/e/1FAIpQLSf27B7b65oEGGZO-BtYBzc4fpL418KerOlkLWxq8V-iSxfKAw/viewform?usp=sharing
“Join us at AfriSAFE2023 on November 10, 2023, and become an integral part of this transformative journey,” he stated. He also added that the AfriSAFE Safety Idea Capital will launch the Africa Safety Congress, taking place on the same day.
“The Africa Safety Congress will bring together over 600 onsite delegates, along with 10,000+ online attendees, and feature 10+ sector-leading speakers from across Africa, including the Director for West Africa at the International Labour Organisation (ILO), who has confirmed attendance. This event will be a landmark gathering of safety professionals, experts, and enthusiasts.”
