Ghana StartUp advocates enabling environment for business

BusinessesMr Emmanuel Nyame, Chairman of Ghana StartUp Cup, has called on duty-bearers to create enabling environment for emerging young entrepreneurs to set up more businesses.

“Encourage the young ones to challenge themselves to build sustaining businesses…there is a lot of talent among today’s youth…create enabling environment for them,” he said.

Mr Nyame made the call at the awards night of Ghana StartUp Cup business model competition on Tuesday.

He mentioned Raindolf Owusu, who created Africans first ever web browser and operating system, the contributions of John Armah to Ghana’s national budget, adding “can’t we have more of these 20 something youth in the country?”

The goal of StartUp Cup is to raise and support entrepreneurs worldwide who set up companies for future growth and expansion.

Ghana StartUp Cup was launched in May through the assistance of Africa Youth Economic Forum and the Ministry of Foreign Affairs and Regional Integration.

US Ambassador, Gene A. Cretz said the United States is delighted to be a global partner with StartUp Ghana.

He said President Barack Obama has elevated entrepreneurship as a critical pillar of US global engagement and is committed to support entrepreneurship to help channel the creativity, innovation, and potential of millions of individuals around the world to create economic opportunities.

He said many entrepreneurs may not be investment ready and do not possess the basic skills needed to take an idea and turn it into a viable and bankable business.

Mr Cretz said: “We need to work with civil society, government, and media to better celebrate the virtues of entrepreneurship, such as ingenuity, talent and passion, which can generate economic vitality and empowerment for youth and women.”

“We are planning to create an Entrepreneurial Advisory Council comprised of dedicated Ghanaians who can advise and guide us as we explore new ways to bolster and support an entrepreneurial arena that will, in turn, accelerate the growth of local businesses, and ultimately the country as a whole.”

The wards were based on rigorous selection on pitch sessions, testing of assumptions and revenue generation.

Market definition was also among the series of the criteria for measuring the development and progress of each startup that commenced from May to November.

Source: GNA

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