Innohub Launches Cohort 3 of the GrEEn Accelerator Program

BY: Kweku Zurek
Innohub Launches Cohort 3 of the GrEEn Accelerator Program
Innohub Launches Cohort 3 of the GrEEn Accelerator Program

Innohub, the Accelerator Partner for the SNV GrEEn Accelerator Project has launched the third cohort of the project at the Innohub Growth Centre in Accra.

The project will provide business development support to four female and one male green business in the Ashanti and Western Regions of Ghana, in the Agric and agribusiness and WASH sectors over a 6-month period.

The program was under the theme, "Adopting a gender-inclusive approach towards a circular economy: why it matters’’.

In attendance were Mr. Laouali Sadda, Project Manager, SNV GrEEn Project, Mrs. Geneveive Parker - Twum, Senior Incubation and Acceleration Advisor, SNV, Ms. Stephanie Eyram Akrumah, Project Development and Socioeconomic Impact Director, Centre for Green Growth, and Mr. Nelson Amo, CEO of Innohub.

In his opening remarks, Nelson Amo, stated that there is the need for Ghanaian entrepreneurs to be innovative and build businesses that can readily scale across the African continent, and compete on the global front.

To achieve this, he emphasized the need for Ghanaian Small and Growing Businesses (SGBs) to build systems and structures that will enhance their viability, scalability, investor readiness and sustainability.

He also stated that, for businesses to experience growth and remain sustainable there is the need for entrepreneurs to remain focused and dedicated.

He thanked SNV Ghana and the EU Delegation in Ghana for the initiative to promote, circular economy, business development and job creation.

The keynote speaker, Ms. Stephanie Eyram Akrumah, spoke on the need for all stakeholders to contribute to advancing the green and circular agenda.

She mentioned that each gender had a critical role to play in the circular economy, right from the family unit to the work environment, adding that “we all use a lot of plastics and papers on a daily basis at home and in the workplace, therefore a conscious effort to reduce its usage, reuse and recycle is the way forward”.

She concluded with this statement: “The linear economy is the problem; a circular economy is the solution”.

The Project Manager for the SNV GrEEn Project presented a brief overview of the work done so far by SNV on the GrEEn project. In his speech, Mr. Laouali Sadda, expressed sincere gratitude for being part of the program launch and continued to give a brief overview of the project.

Speaking on the third cohort of the GrEEn Accelerator Program, Laouali indicated that the 5 businesses will receive mentoring and coaching specifically geared towards enhancing their scalability and investment readiness.

These businesses will be linked to local and international angel investors with support from Zidicircle.

In addition, the businesses will participate in an investor forum to enable them showcase their sustainable innovations. He also mentioned that incubation partner hubs in the target regions would be providing 24 businesses with incubation support as part of the GrEEn Incubation Programme.

In his closing remarks, Laouali thanked the co-implementing partners, UN Capital Development Fund (UNCDF) and the Ministry of Local Government, Decentralization and Rural Development for their contribution towards promoting a green and circular economy. He also encouraged the entrepreneurs to strive for excellence.

The five businesses selected for the third cohort include:

• WaterForce Ventures: manufacturers of organic anti-bacterial soap and hand sanitizers, packaged in biodegradable materials.

• Baanuena Farms: Into the production of hybrid vegetables such as cabbage and maize as well as poultry and fish farming.

• Ayden Ventures: specializes in hybrid commercial vegetable production (Chili pepper, green pepper and cucumber) and cat fish farming.

• EcoPeriod: production of eco-friendly and reusable pads made from cloth, contributing to the elimination of plastic waste.

• Supreme Pod Company limited: processes cocoa pulp (Cocoa waste) into cocoa juice, with entire manufacturing process powered by solar energy.