Call for Busines Proposals for the Second Phase of The NUL Innovation Hub!

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The National University of Lesotho (NUL) Research and Innovations Committee has been tasked with overseeing the NUL Innovation Hub activities among other duties. The call is hereby made to all NUL staff members, NUL Students and NUL Graduates with existing innovative businesses that can be incubated within the second phase of the NUL Innovation Hub space. Businesses should have at least one of their members being affiliated with NUL as mentioned above.

The second phase of the NUL Innovation Hub will be part of the envisaged NUL-LNDC Industrial Park and its primary aim shall be to incubate small businesses and prepare them for mass production at large scale factories within the park.

Assessment will be based on merit and specifically on the following:

[1] Practicality and sustainability (does it work, will it drive itself overtime?), [2] strong business case (does it make a business sense? Is it more likely to generate profits?)
[3] Innovation (does it reflect a different approach to filling existing gaps in the market?)
[4] Already in existence (is the business already in operation? The NUL Innovation Hub won’t incubate business ideas).

It is expected that the second phase will accommodate a sizeable number of businesses. The plan is to provide space and enough funding for all accepted businesses. However, funding will not go beyond M500, 000 per small business. Please note that no funding has been secured for the hub yet. The accepted businesses will form part of the funding proposals for the Second Phase of the NUL Innovation Hub. NUL deserves a right to negotiate shareholding through its company, Tloutle Holdings, in any companies that go through the NUL Innovation Hub.

If you are interested, please send a ONE PAGE concept addressing all the four points mentioned above to www.nulif.org.ls by using the email address under “Contact Us” before the 20th November 2018. Shortlisted businesses shall be called for further presentations before final decisions are made.

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