Student Venture Support Programme 2024: UG’s Ecofibre Solutions emerges winner
A students’ start-up group, Ecofibre Solutions from the University of Ghana (UG), has emerged winner of the Student Venture Support Programme (SVSP) 2024 Demo Day Competition.
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Dubbed: “Student Enterprise Pitch competition,” it forms part of the Innovation for Africa Universities (IAU) Connecting Ghana Project and serves as a platform for student entrepreneurs to present their business ideas.
Student Venture Support Programme
The project, which is spearheaded by the Office of Research, Innovation and Development (ORID) and in collaboration with Imperial College, London and Impact Hub Accra, aimed at promoting entrepreneurial skills development among students in the University of Ghana.
The group won with their pitch for a sustainable business idea focused on producing affordable, eco-friendly, locally sourced food packaging from plant residue. They were awarded GH¢40,000 worth of product service development support, a certificate, a memento and six months of access to start-up resources based on their start-up needs.
Upcraft team won the first runner-up position and took a cheque for GH¢25,000 worth of support toolkits, a memento and a certificate. Todeka's Enterprise took the second runner-up position, receiving a cheque for GH¢15,000 worth of support toolkits, a memento and a certificate.
The event saw five student start-up groups from the University of Ghana, selected from an initial pool of 23, pitching their sustainable business ideas.
Inception
Addressing the participants in the final of the competition, the Pro-Vice-Chancellor of Research, Innovation and Development at UG, Prof. Felix Asante, said the programme, since its inception in 2022, had consistently paved the way for student innovators, nurturing invention, promoting problem-solving, and empowering the next generation of entrepreneurs.
He said the programme had over the years driven improvements in products, processes and services, and enhanced efficiency and competitiveness while creating new growth opportunities.
The Chief Technology Officer of FreshCheck and Imperial Alumnus, Dr John Simpson, entreated the students to embrace failure as a stepping stone to success, saying, “Mistakes will lead to success. It is okay to make mistakes and it is okay to fail”.
Culture of innovation
The Vice-Chancellor of UG, Prof. Nana Aba Appiah-Amfo, said the institution was committed to fostering a culture of innovation and entrepreneurship among its students.
“We believe that nurturing student business is not just an addition to academic excellence, but it is a vital component,” she added. Prof. Appiah-Amfo encouraged the student entrepreneurs to embrace the opportunity, showcase their vision, and trust in the knowledge and skills they have acquired.
The Head of Enterprise Lab of Imperial College London, Sarah Rancher, said the partnership had over the years fostered a robust ecosystem for student entrepreneurship.
The Co-founder of Impact Hub, Accra, Kelechi Victor Ofeogbu, expressed satisfaction with the outcome of the programme over the years, refining and improving the business acumen and innovative capacities of students.