KOSMOS Energy, the first company to discover oil in commercial quantity in Ghana, has inaugurated its Innovation Centre and Incubation Hub with the capacity to host a maximum of 25 start-ups.
Started in 2016, the Kosmos Innovation initiative focuses on empowering young men and women to drive innovation in agriculture, so as to lead sustainably successful businesses.
The initiative, since its inception, has trained more than 500 youth-driven agri-tech start-ups in the country with capital support of US$300,000 over the period.
The programme invests in small businesses through tailored coaching, skills building, expert mentorship, seed funding, and facilitates connections within and across industries.
At the opening of the Centre in Accra yesterday, Andy Inglis, Chairman and Chief Executive of Kosmos Energy, said the initiative would nurture the next generation of entrepreneurs and encourage innovation in sectors beyond oil and gas with the goal of contributing to a healthier and more diverse economy.
“At Kosmos, we know what it is like to see an opportunity, pursue a dream and grow a business. Entrepreneurship is in our DNA,” he stated.
Reminding the star-ups that Kosmos was once like them, Mr Inglis challenged the businesses to thrive to be next generation of employers.
According to him, Kosmos had supported a range of worthwhile initiatives, including vocational training, construction of IT resource centres, water projects and other initiatives which have impacted communities.
“We have vested interest in seeing Ghana succeed, so we wanted to do more to help create a diverse and thriving economy. It’s in our company culture to take on tough challenges, so we decided to grapple with the difficult issues facing agriculture.
“Just as we first unlocked the potential of a moribund oil and gas industry more than a decade ago, we want to help breath a new life into agriculture by getting young people involved and introducing new idea,” he added.
A Deputy Minister of Energy, Dr Amin Adam, gracing the occasion, said the initiative would go a long way to complement government’s effort in modernising agriculture.
Dr Adam said it was important new thinkers in the agricultural space were identified to avoid the Dutch Disease; a situation where agriculture suffers because of oil discovery.
Government, the Deputy Energy Minister said, would create the enabling environment for the sector to grow.
The start-ups for this year include Farmklass, Cocoa Aboye, Aiscarecrow, Ugreen Technologies, Agroplast, Thermostore, Climatek, Coconut World, Earth Fresh, Prospect Feed and Farm Kode.
BY JULIUS YAO PETETSI
