Ghana Climate Innovation Centre inducts 22 entrepreneurs

Ashesi University’s Ghana Climate Innovation Center (GCIC) has enrolled 22 entrepreneurs in its 7th cohort of GCIC’s incubator funded by Global Affairs Canada.

Entrepreneurs are 50% female-owned and 40% male-owned businesses, with 38% in Greater Accra, 27% in the Ashanti region, 15% in the western region and in the eastern region, the central Region, located in the Volta Region and Upper Region account for 20%.

GCIC Cohort 7 includes SMEs whose work and innovations are aimed at either mitigation and adaptation to climate change, or SMEs investigating the adoption of more climate-smart and sustainable models in their business
operations.

They are made up of companies in five key sectors; 42% are climate smart farming companies, 27% deal with waste management, 15% are energy efficiency organisations, the rest in greening and solar energy.

Ruka Sanusi, the Executive Director of the GCIC, stated during her introductory speech that between June 2017
and in 2020, GCIC helped entrepreneurs generate $2.06 million in cumulative revenues, create 733 new jobs, raise more than $2 million in additional early-stage and growth financing, and carbon emissions of 14,500 tons to save.

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The Ghana Climate Innovation Center hires 22 entrepreneurs

Over the past year, the center has helped avoid 70,684.47 tons of emissions, about six times the five-year target of 10,000 tons, and helped generate $1,303,323 in revenue while maintaining a gender ratio of 50% men and 50% sustained. companies run by women.

She said: “GCIC’s robust business incubation program and interventions support entrepreneurs to develop, and each SME receives an average of CAD$21,300 to improve the necessary mindset, skills and abilities
Toolset to take their climate innovation for the long term by better understanding the factors that drive long-term business success and performance.”

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The GCIC’s symbolic presentation of a potted asparagus fern plant to each entrepreneur with a potted asparagus fern plant is symbolic and encouraging in the process of promoting green business
Entrepreneurs to cherish the gift as a reminder of the commitment they need to show in order to grow
their business during and after the start-up period.

GCIC’s Director of Partnerships, Entrepreneurship and Investments, Dramani Bukari, guided the entrepreneurs through the GCIC’s technical and product development work stream and highlighted how
Entrepreneurs can improve their product innovation to meet global standards by using the
Support Services offered by GCIC.

The Ghana Climate Innovation Center hires 22 entrepreneurs

He said: “GCIC works to improve technologies and products while promoting climate risk mitigation
and improving management practices. We’ve also invested to ensure our cohorts are building climate-resilient businesses.”

He continued, “Our grants are available upon application and include submission of evidence of the efficient and effective use of the funds granted.”

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Additional presentations were made by the GCIC finance team on opportunities for GCIC support
Businesses to apply for and access financial grants.

Daniel Ababio, Senior Manager at EY Ghana (GCIC’s implementation partner for the GAC supports
program) that carries out the monitoring and evaluation (M&E) of the program said: “The M&E process that
The EY implementation helps us track company growth before and after the 9 month period.

“We are also able to accurately quantify and report on the support provided by the GCIC, and we look forward to sharing your success stories during and at the end of the program.”

Cohort 7 entrepreneurs were enrolled in the GCIC incubation program on October 20, 2022
will complete their term in June 2023.

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