By Paul Mamattah
President Akufo-Addo, has lauded the creativity and innovative spirit of young Ghanaians and encouraged them to focus on expanding their ideas for the greater good of society.
The President, emphasized the important role that entrepreneurship plays, for sustainable development.
The President, made the assertion in Accra at the launch of the season five Presidential Pitch by the National Entrepreneurship and Innovation Programme (NEIP), a flagship initiative aimed at empowering young entrepreneurs in Ghana.
The event brought together stakeholders from various sectors to support the growth of innovative start-ups.
The Presidential Pitch is a strategic government programme designed to enhance the entrepreneurial environment in the country.
The unique business competition provides a valuable opportunity for young entrepreneurs to develop their innovative ideas and secure funding from the government.
The goal of the initiative is to transform the business concepts of Ghanaian youth aged 18 to 40 into successful global enterprises with government backing.
This aligns with the President’s goal of supporting young entrepreneurs in developing their business concepts and enhancing their quality of life.
Participants are chosen to present their business ideas to a panel of judges, with 30 eventually receiving funding.
During a ceremony marking the competition, President Akufo-Addo underscored the significant impact of past winners, highlighting their contributions to tackling pressing societal challenges and driving sustainable development across the nation.
“I am incredibly proud to be associated with the work of our youth who have exhibited remarkable entrepreneurial spirit,” said President Akufo-Addo.
He emphasized that prioritizing entrepreneurship is essential for creating sustainable jobs and meeting the development needs of Ghana.
He reassured attendees and participants alike that the government will continue to enhance its support for innovators and burgeoning businesses, positioning Ghana as a nation of entrepreneurs ready to tackle both local and global challenges.
The Chief Executive Officer (CEO) of NEIP, Kofi Ofosu Nkansah, emphasized that the Presidential Pitch is driving youth entrepreneurship in Ghana and emphasized innovation, scalability, employability, and sustainability.
He noted that over 250,000 beneficiaries have received support since its launch in 2017, leading to the creation of around 100,000 jobs through business development assistance, starter packs, and funding.
Mr Nkansah added that the finalists for this year, chosen through a rigorous selection process, presented their business concepts in sectors like fintech, manufacturing, and agribusiness.
He underscored the importance of supporting young entrepreneurs, stating, “We are committed to creating a conducive ecosystem for entrepreneurship to thrive in Ghana.
10 young individuals showcased their innovative ideas spanning various sectors like agriculture, energy, waste management, education, and climate resilience.
Among them, a 25-year-old student pursuing a Diploma in Electrical and Electronic Engineering at the University of Mines and Technology (UMaT) in Tarkwa, Western Region, impressed the panel with his creation, the Smart Switch.
He was awarded GH¢250,000 as the overall winner, with the initial prize being GH¢200,000. To everyone’s surprise, President Akufo-Addo contributed an additional GH₵50,000 to the prize money.
This accomplishment marked the student, Naamgwimaa, as the first recipient of the Dr. John Kumah Prize for Innovation and Entrepreneurship, a prize instituted by President Akufo-Addo in memory of the late Deputy Minister of Finance, Dr John Kumah, to recognize outstanding contributions to entrepreneurship and innovation.
Despite facing tough competition from nine other participants, including the second and third-place winners, Wisdom Torkornoor Boadu and Bismark Osei, Naamgwimaa’s Smart Switch, emerged victorious.
The second and third-place winners received GH¢150,000 and GH₵140,000, respectively. Amanda Aninagyei of Smart Watch and Onyx Terchi-Duku of OGames Studio earned GH¢130,000 and GH¢110,000, securing the fourth and fifth positions.
Furthermore, the remaining participants, Nyaro Lartey Billton, Ziblim Abdul-Rahim, Isaac Brenya, Foster Osei, Georgina Boamah, and Caleb Lomo, were awarded GH₵80,000 each to support the growth of their businesses.
