Founder of Fearless Foundation, Arian Simeone, states that insufficient resources, such as education, networks, and mentorship, present a major obstacle for start-ups within the ecosystem.
The Fearless Foundation is a non-profit organization offering capital, community support, mentorship, and education to women entrepreneurs.
She mentioned that without access to high-quality educational resources specifically designed for entrepreneurship and business management, founders may lack the necessary knowledge and skills to handle the complexities of launching and expanding a business, underscoring the importance of education.
“This includes understanding market dynamics, financial management, marketing strategies, and legal compliance,” she said.
“In regions where entrepreneurship education is lacking, aspiring founders may struggle to develop viable business models and effectively execute their ideas.”
Madam Simeone spoke to the Ghana News Agency during a meeting in Accra with entrepreneurs from MEST Africa.
MEST Africa provides essential skills training, funding, and support in software development, business, and communications to Africa’s tech entrepreneurs.
Her interaction with the organization has led to a GHS 20,000.00 grant to be awarded to one local entrepreneur whose creativity aligns with Arian Simeone’s mission.
She emphasized that building a strong network of industry contacts was vital for start-ups to access opportunities for partnerships, collaborations, and customer acquisition.
Mentorship is crucial in guiding start-up founders through various growth stages, offering practical advice, feedback, and encouragement based on the mentor’s experiences.
“Without access to experienced mentors who can offer guidance on strategy, decision-making, and problem-solving, founders may struggle to navigate uncertainties and make informed choices,” Madam Simeone said.