#Innov8GH Incubation Program

2 min read
01 Jan 2024

Sector: Social venture

We’re an incubation program helping budding entrepreneurs in the local ecosystem build their business model.

#Innov8GH is a three-month incubation initiative run by the Ghana Innovation Hub that allows entrepreneurs to test and improve their concepts before taking them to market. It is open to entrepreneurs who want to take their idea from concept to first operations as well as businesses with initial operations that want to scale to a more validated business model. #Innov8GH also prepares applicants for the pitch process and advises on how to engage with potential partners and investors, and how to market their products or services. 

The program is divided into a series of three workshops. The first stage helps entrepreneurs to identify a market, build a business model and find potential customers. The second looks at operations, including distribution models and building new partnerships. The final stage covers efficient financial management and how to combine the insights from the previous workshops into next steps for the business. After the first two workshops, participants are given a small grant to create their product, work on marketing or finance any other area highlighted during the program. #Innov8GH organizes dedicated weekly coaching slots to check in with participants and to keep track of progress.

A valuable part of the program is pitch day, when participants showcase their product or service. The program invites stakeholders to see what the startups have to offer and provides an opportunity to network and expand the local ecosystem. There is a competitive element, as the most viable business receives GH₵50,000 ($9,100). The overall aim of the program is to help new businesses grow, thrive in the market and be able to hire new staff members to expand operations.

Checklist 

Be serious about your business idea. 
You need to be able to commit to your idea and want to expand to create a viable, successful business model. 

Be able to commit to the program.
Eligible candidates need to be able to dedicate time to their business during the three-month program and are required to pay for their own transport to and from the Ghana Innovation Hub.

Limited or no prior experience with other programs.
Ideally, this should be your first time participating in an incubation program or receiving support to elevate your idea.

Have a talented team on hand.
You should already have the right skills or team in place to build your product or service prototype, so you can move forward during the program.

Application can be sent via

ghanainnovationhub.com/innov8gh-4

Photo by MDF West Africa – Ghana Innovation Hub

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