MTN Ghana Foundation and Ghana Multimedia Incubation Center(GMIC) have signed a partnership agreement; stating the MTN foundation will to sponsor a business incubation project targeted at final year tertiary students.
The ICT Business Incubation and Entrepreneurship project which the Foundation has pledged GH¢308, 000 ($122,014 ) for two years, will entail the organization of an innovations competition to select 10 start-ups into a Business Incubator Program.
The innovations competition will target final year tertiary students with focus on ICT. The selected persons will be trained and have their skills enhanced in the areas of software development and programming and Application development.
Serame Taukobong, CEO of MTN Ghana, said the signing of the special ICT Business Incubator and entrepreneur partnership attests to MTN’s commitment to leading the delivery of a bold, new digital world to their customers. He further stated that, the advancement of ICT has turned the world into a global village making it easy for people to connect, share resources and promote businesses among others.
“MTN is excited about this business incubator partnership because research has shown that most small businesses don’t make it to their fifth anniversary. In fact, according to the U.S. Small Business Administration, only 44 percent make it past four years. In Africa, the situation is worse. Business incubators exist to help businesses improve their survival rate especially through the formative period,” added the CEO.
Dr. Omane Boamah, Minister of Communications, said: “the business incubation is very important because it challenges the minds and demand creative thinking. It would help generate descent jobs for the unemployed youth.”
Solomon Asante Dartey, Director of GMIC, said the concept of incubation as a business development model had been the best means of support for technology commercialisation, particularly in the area of ICT and the sciences. He commended MTN for accepting to partner GMIC to push forward the innovative way of supporting technology start-ups.
The MTN Foundation, has invested over GH¢13 million ($5149926) in various community development projects in the areas of health, education and economic empowerment.