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Accra West Startup Incubation Programme Commences

Exclusives

Oct. 21, 2020, 3:51 p.m.

Two startups have commenced an incubation program under the Ghana Tech Lab National Incubation Program.

The startups XtraCash and House Hunt emerged winners of the Accra West Local Startup Investment Summit (LSIPS), which qualified them for the incubation stage.

The programme forms part of Ghana Tech Lab’s base innovation project which seeks to create jobs for people while equipping them with employable skills and digital skills.

The incubation phase, running for ten weeks, will serve as a platform to expose the trainees to entrepreneurship through business development, a market-driven skill gap and a curriculum designed to help the startups understand their products. This process builds the startups up for a pipeline of investment-ready firms.

In an exclusive interview with Digital Time Africa, Incubation Facilitator Pamela Bortequaye, incubation is the perfect opportunity for startups because it connects them to mentors and business coaches who will guide them to visualize their business modules into stable and sustainable tech-based businesses.

‘‘Though two teams qualified for the incubation phase, only one team will qualify for the National Startup Investment Summit(NSIPS), a bigger platform where startups compete with other teams for seed funding of $5000 from the organizers and also get the chance to receive support from other investors,’’ she said.

She added that teams that do not make it to NSIPS are still given opportunities to build their business in terms of registration of the business, an office space, free access to the internet and support from mentors and business development coaches.

“Moreover, GTL in partnership with GIZ offers acceleration programs to the teams to support them scale up their businesses. NSIPS is but one platform, there are numerous platforms startups can hop on to get the necessary resources and help needed to accelerate their businesses. Investors are not looking out for winners but startups with feasible ideas so startups should concentrate more on developing their business concepts well” she added.

As part of the training, the teams embarked on an empathy field trip where they showcased their prototypes to clients as a way of testing their products and identifying their market target.

When questioned if the field trip does not expose the startups to the risk of having their business ideas duplicated, Miss Bortequaye said “ every business idea has a starting point. For instance, everyone can venture into the transportation industry because, in business, replication is allowed provided it is solving a particular problem.”

She urged startups not to give up but press on, having in my mind that every tech giant started small.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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