Three institutions are organising an Impact Entrepreneurship Competition for innovative and successful Ghanaian-owned businesses making a positive impact on society, with a view to strengthening the impact’s ecosystem in the country and contributing to bridge the gap between impact and profit.
They are Kosmos Innovation Center Ghana, Glovo and Open Value Foundation
The competition is designed for entrepreneurs and early-stage companies generating positive impact in Ghana’s economic, social and/or environmental sectors, contributing to sustainable development in the country.
Over $ 20,000 in cash prizes and more than $5,000 in-kind prizes will be awarded to the selected entrepreneurs during the competition.
A statement issued by the organisers in Accra yesterday said the winner would receive a grant of $ 15,000 powered by Open Value Foundation and $ 10,000 would be awarded to a company working to improve the health and wellbeing of others, including businesses tackling environmental issues impacting people’s health by Anesvad Foundation.
“Additionally, based on the jury’s criteria, any of the live-pitch participants will have the opportunity to receive a package of support including mentoring, investor-readiness advice, networks, and introductions to other sources of funding and opportunities to access products and/or services donated by partners and collaborators,” it said.
It said “To participate in the competition, the Ghana registered company must have raised less than $250,000 in funding, have been in operations for two or more years, have a clear for-profit or sustainable business model with potential for scale and the ability to demonstrate positive social impact in Ghana .“
The Competition will be in 2 stages, with the first stage being an online submission while the second stage will be a physical event where the top eight shortlisted businesses will pitch in-person to a panel of judges and investors.
The live pitch will be held on November 4, 2022 in Accra.