10 green entrepreneurs graduated as the third cohort of the Ghana Climate Innovation Centre (GCIC) business incubator on the 5th July 2019 at the GCIC offices, Ashesi University. The event also saw the induction of 30 green entrepreneurs as the fifth cohort- the largest yet- into the incubator.
Mr. Albert Osei, Founder of Koko King, a traditional food packaging company, speaking at the induction and graduation ceremony, encouraged the entrepreneurs not to be afraid of failure because it drives inspiration.
“You cannot succeed if you fear failure. It is the failure that will strengthen you to find creative means to provide solutions to problems. In the last 10 years we at the Koko king have failed every year in one way or the other,” he said.
The induction of the 5th cohort marked the achievement of a huge milestone for Ghana Climate Innovation Centre as this is the first cohort where more than half of the businesses being incubated are women-owned/led. It also brought the total number of businesses supported by the Centre to 82 since the business commenced operations in 2017. In line with the GCIC culture, the inductees were gifted with a plant, that they would be expected to nurture, just like GCIC would nurture their green business.
The entrepreneurs over the next one and a half years will receive, among other services; business advisory, mentoring, technical training, Proof of Concept grants up to $50,000, research analytics on markets, competitors and sector trends, advocacy with government on climate tech policy issues and access to technical facilities to design, prototype and test products.
The Executive Director of GCIC, Ms Ruka Sanusi, said the effects of climate change did not only present challenges but also offered many opportunities for entrepreneurs to harness. She said the circular economy was an emerging business strategy that enabled companies to innovate in ways that addressed resource scarcity and climate risk, in response to consumer and societal pressure to reduce waste and unlock that $4.5 trillion economic opportunity.