Approximately 20 innovative young entrepreneurs in the country have successfully completed the United Nations International Children’s Emergency Fund (UNICEF) StartUp Lab program.
This intensive six-month accelerator program focused on business and product development aimed to support businesses dedicated to advancing the United Nations Sustainable Development Goals (SDGs) for children and young people.
Led by UNICEF in Ghana and supported by KOICA through the “KOICA-UNICEF Accelerating Entrepreneurship and Innovation in Ghana” initiative, the program aimed to enhance the skills and capabilities of participating entrepreneurs, strengthen their products and businesses, and amplify their social impact.
During the graduation ceremony held in Accra, Fiachra McAsey, the Deputy Representative of UNICEF in Ghana, commended the talented startups for their dedication and innovative use of digital technology and business acumen to address the pressing challenges faced by young people in Ghana.
McAsey emphasized that UNICEF will continue to be inspired by this new cohort of entrepreneurs and their commitment to creating new products and services that contribute to positive change. The 20 startups represent a group of resourceful, dedicated, and talented individuals from various regions of the country.
“It has been our pleasure to accompany them over the past six months through the UNICEF StartUp Lab Accelerator Programme, and we look forward to supporting them further, as they join our Alumni network, and continue to make a difference for children and young people in Ghana, and beyond,” he said.
Transformative power
The Acting Country Director of KOICA Ghana, Seungmin Oh, said KOICA firmly believes in the transformative power of entrepreneurship and innovation.
He said KOICA recognise the importance of creating an enabling environment that fosters creativity, provides necessary resources, and encourages collaboration.
He said KOICA was proud to have been a part of the journey of the 20 startups, and for that reason remain committed to supporting the growth of entrepreneurship and innovation in Ghana.
“We will continue to invest in programs that empower young entrepreneurs and equip them with the skills, resources, and networks needed to thrive in today’s competitive landscape,” he said.
Nurturing entrepreneurs
The Korea Ambassador to Ghana, Lim Jung-Taek, said Korea was honoured to have been a part of this transformative initiative, which has nurtured the seeds of entrepreneurship and paved the way for a brighter future for these talented individuals.
He said, “Korea has long been a testament to the power of technology-driven progress which has seen it invest more than four per cent of its GDP in research and development, fuelling groundbreaking discoveries and fostering an environment that thrives on innovation.”
He added that this commitment to technological advancement has yielded incredible results, giving rise to global companies that have left an indelible mark on various industries.
Significant guidance
The startups also gained valuable access to a network of experts from UNICEF, KOICA, and MEST, offering significant guidance and fostering networking and investment opportunities.
Moreover, qualified companies were given dedicated assistance towards achieving recognition as an UN-recognized Digital Public Good.
Throughout the programme, each selected startup was provided with up to GH¢25,000 in prototyping funding, in addition to immersive and hands-on business acceleration support.
Now in its third year, the UNICEF StartUp Lab has accelerated over 50 startups from across Ghana, including by investing over $100,000 in prototyping funding to support the development and impact of these businesses.
The UNICEF StartUp Lab has been instrumental in equipping Ghanaian startups with the necessary skills, resources, and support to address pressing challenges faced by children and young people in the country.