The goal of KBI is to contribute to the sustainable overall industrial and business development of Ghana by exposing and equipping of selected Final Year Students of KNUST to entrepreneurship.
The concept of the Kumasi Business Incubator (KBI) is to initially assist up to twenty-five (25) selected final year students of KNUST to realize their entrepreneurial dreams. The KNUST in collaboration with NBSSI is establishing the Incubator Centre to assist final year students who have innovative business ideas to perfect these ideas into real businesses and to assist tenants to integrate their businesses into the real business world. Most importantly, the incubator seeks to reduce the failure rate of early-stage companies. This business plan is meant for strategic partners to appreciate the incubator concept and to support in terms of investing in the business units in the Incubator. The Centre though multi-disciplinary, will put premium on businesses that have the national development agenda in focus; to this end, ICT enabled processes and engineering solutions as well as applied sciences will be encouraged.
The establishment of the Centre encompasses planning, infrastructure development, running the incubator, monitoring and evaluation. Each stage involves substantial financing. KNUST and NBSSI have so far funded the planning stage. The Government of Ghana through the Ministries of Communications, Trade and Industry is expected to play a key role in the funding of infrastructure and operational expenditure.
KBI is set up to actively promote, nurture and sustain innovative and competitive start-up businesses that emanated from research and innovative works of students.
"KBI is to assist in the development of micro, small and medium-size enterprises through the provision of business premises, training, coaching, and mentoring of students with innovative ideas".