by In summary
- Ghana is leading as a regional hub in enabling environment for most technology-related startups
- African startups are increasingly getting accepted into accelerators and incubators
African startups are increasingly getting accepted into accelerators and incubators around the world. The ecosystem exposes them to new markets which they would normally not have been able to access.
Ghana is leading as a regional hub in enabling environment for most technology related startups.
Most startups need the right mix of networks, capital markets, regulation, and culture to thrive. The country has over a decade developed an ecosystem with a beautiful interplay of such components.
Such initiative has resulted into a vibrant startup ecosystem of stakeholders offering mentorship, and networking for startups.
A home for incubator hubs
Ghana remains a home to several incubator hubs and platforms that facilitate startup growth. Two major incubators include Stanbic Incubator and MEST.
Stanbic Incubator offers a startup programs that incubate ideas and help build minimum viable products.
They also offer advisory services to improve small and medium business operations drive growth, and build lasting ventures.
MEST has an entrepreneur training program, an internal seed fund, and a group of hubs that incubate startups. Some of the startups that have received seed funding under MEST include Profish and TransGov.
Profish transforms fish industry
Profish is a unique agricultural tech startup that aims to transform the fishing industry. Many fish farmers in Ghana experience losses during the post-harvest.
Profish has created a platform that allows farmers to sell fish they have harvested directly to customers.
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The farmers are in partnership with a logistics company to ensure that the fish are delivered directly to customers.
The agricultural sector amounts to about 15.3% of the nominal GDP of Ghana and is a growing industry—the percentage of individuals in the industry rests at 44.7%.
It is a strategic industry for Ghana’s economy.
TransGov partners with government to avail data
Ghana Open Data Initiative was established in 2012 by the National Information Technology Agency in partnership with the Web Foundation.
The initiative publicly avails data from the Government of Ghana data to the citizens.
TransGov is leveraging Ghana’s Open Data Initiative to be a part of the conversation on developmental projects both within their local communities and nationally.
The goal is to increase government accountability and citizen engagement.
It’s essential that startups of this nature receive funding. Profish and TransGov inspire and solve pressing issues to startups.
A multitude of investors such as the Accra Angel’s Network and Chanzo Capital (VC) have already shown willingness to offer capital to startups.
The government of Ghana has also prioritized facilitating the growth of startups. In 2019, the Oracle-Ghana Digital Enterprise Program was launched and will support 500 startups in Ghana.
Ghana is transforming into the Silicon Valley of Africa with the availability of spaces to connect, tools for innovation, and strong financial support.
Bibliography
“Growing Generational Businesses…” SBIncubator Ghana, www.sbincubatorgh.org/.
2 MEST, meltwater.org/.
3 “Agriculture.” Oxford Business Group, 25 Feb. 2020, oxfordbusinessgroup.com/ghana-2020/agriculture.
4 “Profish Ghana Case Study.” KIC, www.kosmosinnovationcenter.com/ghana/case-studies/profish-ghana-case-study/.
5 “About: TransGov.” TRANSGOVGH, www.transgovgh.org/about-transgov
