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Ten start-ups receives grants from Govt

President Nana Addo Dankwa Akufo-Addo on Tuesday launched the second season of the Presidential Pitch initiative, an entrepreneurship competition that seek to build the capacities of businesses that can withstand and compete with global giants.

 

The 10 young contestants who are between the ages of 18 and 35 years, were presented with cash awards, ranging from GH¢25,000 to GH¢60,000.

 

Speaking at the luncheon, President Akufo-Addo-Addo said the cash awards, which are grants, seeks to demonstrate the government’s continued commitment to providing seed capital for some enterprising youth to enable them run successful businesses.

 

He said for Ghana to become competitive and productive through enterprise, it was imperative that the country’s youth enhance their innovative and creative skills, and develop successful business giants that could compete globally.

 

President Akufo-Addo said, “Entrepreneurship is a vital component of economic growth and has been embraced globally as one of the most important drivers of development. 

 

There is now a firm recognition amongst governments and international organizations that the development of entrepreneurial talent is key to addressing the challenges of unemployment, especially youth unemployment,” he said.

 

It is as a result of this mindset that, the National Entrepreneurship and Innovation Plan (NEIP) was established to provide an integrated, national support for early-stage start-ups, small business incubators and funding for youth-owned businesses.

 

President Akufo-Addo commended the quality of applicants and the ultimate winners, and assured the contestants who had not won any prize, to take consolation in the fact that the government would surely continue to find ways to assist them.

 

The competition is structure that all contestants of the Presidential Pitch will receive comprehensive, structured training to help build their business management capabilities, and equip them with skills in areas such as finance, marketing, pitching, procurement and risks.

 

This, President Akufo-Addo, explained would enable them become even more competent and be able to compete in the global space. “There are also plans to attach the winners of the Presidential Pitch to Ghanaian and international companies to help build their abilities to scale up,” he added.

 

The President assured that the government would continue to promote a conducive and business-friendly environment for the private sector to thrive and make jobs available for the teeming masses of Ghanaian youth.

 

He added that the government was resolved to build the capacity of Ghanaians to develop prosperous Ghanaian business enterprises that would help create jobs and wealth for majority of Ghanaians.

  

“Government will continue to help fashion a supportive environment to enhance entrepreneurship and enterprise development. My confidence in the sheer energy and can-do spirit of the Ghanaian makes me believe that, in you, the contestants I have met today, the future of the Ghanaian private sector is extremely promising,” he added.

 

Source: ISD (Rex Mainoo Yeboah)

 

 

Created: 07 August 2019
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