President Nana Akufo-Addo has called for attitudinal change and re-orientation towards the adoption of alternative options to achieve a prosperous Ghana.
Mr Akufo-Addo says he is of the “firm view – I believe it is shared by many of you – that the fastest way to resolve the problems of an economy that doesn’t meet our needs and of an alarming rate of unemployment, lies in the subject of today’s event; that is entrepreneurship, business and technology”.
He said every invention started as a small idea, and big companies started on a very small note. In view of that, he says government has taken the necessary steps to advance the economy with the establishment of the Business Development Ministry as one of the interventions.
Mr Akufo-Addo, who was interacting with businessmen on Monday, 25 June 2018, bemoaned that firms in Ghana have not done so well incubating ideas and developing them into global corporations even though the country has enterprising, innovative and creative youth.
In view of that, he said the National Entrepreneurship and Innovation Plan (NEIP) was introduced by the Business Development Ministry with an initial capital of $10million to “support young entrepreneurs start-up their business”.
20 shortlisted individuals were also unveiled as finalists in the business ideas competition dubbed Presidential Pitch.
The Presidential Pitch was opened to Ghanaians within the ages of 18 and 35 with business ideas that are feasible, innovative, scalable and impactful.
2000 entries were received in total, from various sectors including agro- processing, ICT, engineering, tourism, textile, sanitation and transportation, among others.
The 20 selected individuals will be given mentors and attached to various businesses, and others will also be stationed at incubator hubs and given a working space to develop their ideas.
At the end of the competition, the 10 winners will be given support by government to the tune of GHS 50,000 each.
“It is my expectation that the 10 beneficiary companies should help create jobs and, at least, employ three people each,” Mr Akufo-Addo added.