Innohub launches US$10,000 pre-seed funding for SMEs project

Innohub Limited, a business accelerator and impact investment platform, has launched its maiden cohort-based ‘Business Accelerator Programme’ to support the growth of startups companies in the country.

The programme, targetted at providing US$10,000 pre-seed funding in cash and services to 10 selected startups, has been designed to promote innovative entrepreneurship within the sub-Saharan Africa region, starting with Ghana seeking entrepreneurs with innovative high growth and high impact ventures that can be refined and brought to market through a business accelerator programme.

Mr. Nelson Amo, the Chief Executive Officer of Innohub, explained that startup teams with marketable ideas will be selected and supported with business development services, mentoring, training and funding in exchange for a stake in any resulting business.

“Startups to be considered for the programme should demonstrate a high growth-potential with significant profitability and measurable social impact. They must also have early customers or revenues with an ability to scale-up,” he said.

He indicated that there is an urgent need to systematically support the growth of small and medium enterprises so they can contribute to employment, wealth-creation and developing the country, adding that the programme’s goal is to support early stage startups build ventures that are credible enough to raise capital and attract investors.