Under its pre-accelerator programme for the Community Innovative Project, the Design and Technology Institute (DTI) has awarded five Small and Medium Enterprises (SMEs) a total of $25,000 in seed money to boost their business ventures.
The contest is a business pitch and accelerator effort created to find, acknowledge, and promote innovative student-led businesses with the potential to grow and produce long-term employment for the thronging jobless young.
The programme rewards students who have original and creative ideas for the agricultural, water and sanitation, plastics recycling, e-waste, and other fields of the economy. In order to co-design solutions to solve societal challenges in a sustainable way, participants in the competition were required to conduct extensive study and engage with communities.
The winners will move on to a six-month pre-accelerator programme with their prototypes. The pre-acceleration programme will provide the winners with a platform to gather significant company management, financial, and operational resources. It will also operate as a catalyst for fundraising initiatives and investment possibilities at DTI.
The five teams received congratulations from Ms. Constance Swaniker, founder and CEO of DTI, for earning a spot in the championship round.
As a TVET centre of excellence, we think that empowering youth-led SMEs is essential for propelling Ghana's economic growth and speeding the country's progress toward meeting the UN Sustainable Development Goals. Through our Community Innovation Project, we are ecstatic to be able to provide youth-led SMEs opportunity to scale up and realise their entrepreneurial potential, and we look forward to working with them.
She continued, "As West Africa's leading prototype development centre, we are on a mission to train and develop learners who are attuned to the socio-economic needs of people, community, and business, and are ready and willing to develop innovative solutions to meet such needs in order to generate income for themselves and also create sustainable jobs for the youth.
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