Entrepreneurship represents an important career option, it offers opportunities to enjoy independence, develop multiple skills, reap financial benefits, and contribute to economic development. Universities across the globe for their part, have significantly expanded their curricular and co-curricular offerings in entrepreneurship yet, the number of university graduates starting ventures has not demonstrated commensurate growth especially in our part of the world. Ghana’s business environment is a dynamic one. Ghana, like many African countries, has many entrepreneurial support programmes and initiatives. The Government of Ghana, along with private sector organizations, has launched numerous initiatives to promote self-employment, especially targeting the younger population. However, a study by Koltai & Company on the ecosystem for entrepreneurship in Ghana highlights that despite numerous government and private-led initiatives, the system to support starting entrepreneurs remains weak, with the lack of effective capacity building services for entrepreneurs identified as a huge limitation. Although interest in technology entrepreneurship has surged in the country (in part as a result of the rapid dissemination of mobile technologies), entrepreneurs, innovation hubs, and investors alike agree that creating sustainable technology businesses has continued to be extremely difficult. Entrepreneurs in the tech space in Ghana report that their greatest needs are; a) start-up capital b) opportunities to network with ecosystem players. Entrepreneurship in technology heavily depends on science innovations, with good technological skills and knowledge base. Training in technology entrepreneurship is crucial. There is rapid change in technology, and this put more pressure on technology entrepreners to stay competitive. Many also do not understand the technology ecosystem or the market demand, which in some cases requires business training. University training programs are often insufficient and, since mobile application development is different than other forms for technology development, many app-developers require technical training as well, because it is hard to get good developers on board of a promising start-up. Now the question is; Based on the case question, how does tech innovation centers like Ghana innovation hub help address the challenges faced by young technology entrepreneurship?
Entrepreneurship represents an important career option, it offers opportunities to enjoy independence, develop multiple skills, reap financial benefits, and contribute to economic development. Universities across the globe for their part, have significantly expanded their curricular and co-curricular offerings in entrepreneurship yet, the number of university graduates starting ventures has not demonstrated commensurate growth especially in our part of the world.
Ghana’s business environment is a dynamic one. Ghana, like many African countries, has many entrepreneurial support programmes and initiatives. The Government of Ghana, along with private sector organizations, has launched numerous initiatives to promote self-employment, especially targeting the younger population. However, a study by Koltai & Company on the ecosystem for entrepreneurship in Ghana highlights that despite numerous government and private-led initiatives, the system to support starting entrepreneurs remains weak, with the lack of effective capacity building services for entrepreneurs identified as a huge limitation. Although interest in technology entrepreneurship has surged in the country (in part as a result of the rapid dissemination of mobile technologies), entrepreneurs, innovation hubs, and investors alike agree that creating sustainable technology businesses has continued to be extremely difficult.
Entrepreneurs in the tech space in Ghana report that their greatest needs are;
- a) start-up capital
- b) opportunities to network with ecosystem players.
Entrepreneurship in technology heavily depends on science innovations, with good technological skills and knowledge base. Training in technology entrepreneurship is crucial. There is rapid change in technology, and this put more pressure on technology entrepreners to stay competitive.
Many also do not understand the technology ecosystem or the market demand, which in some cases requires business training. University training programs are often insufficient and, since mobile application development is different than other forms for technology development, many app-developers require technical training as well, because it is hard to get good developers on board of a promising start-up.
Now the question is;
- Based on the case question, how does tech innovation centers like Ghana innovation hub help address the challenges faced by young technology entrepreneurship?
(Word count = 1000)
Step by step
Solved in 3 steps
