The Incubator Programme targets final year students of KNUST irrespective of course background. KNUST has six Colleges:
College of Agriculture & Natural Resources, College of Architecture and Planning, College of Art and Social Sciences, College of Engineering, College of Health Sciences, College of Science and a Graduate School. Each College will present 10 projects after a College screening process. The KBI Team will assist Colleges in their selection process.
Pre-Incubation Awareness Programme
There will be a 5-day Pre-Incubation Exposure/Training Programme for the sixty (60) selected projects after which the KBI team will have the opportunity to select twenty-five (25) projects for the Incubator. The selection between March-June, 2011 will constitute the first incubator tenants of KBI. The number could be less since it will also serve as a pilot scheme.
Under the Pre-incubator entrepreneurial training, there is a built-in training programme which will be provided by KNUST School of Business and related departments on routine basis for two years. This is an educational programme conceived in accordance with the principles of entrepreneurship of KNUST. The programme includes 10 modules as follows: Overview of Entrepreneurship; Legal aspects of Business; Organisational Behaviour and Management; Techniques and Technology; Business Plan; Finance; Marketing and International Business; Project Management, Human Resource Development and Information Technology.
Most importantly, this stage fine-tunes the business plan, reviews the market potentials of the products and services, and equips the tenant/incubate with the formalities of establishing businesses in Ghana.
The selection criteria for the 25 tenants will take into consideration the following:
- Clarity of innovation in product/service
- Clarity of entrepreneurial objectives for the next three years
- Willingness to engage and manage business for a profit
- Readiness to start project within the shortest possible time
- Evidence of Commitment (e.g. Financial resources, internships, and family support to stay till the end)
- Commercialization of the Business idea
- Possession of the basic knowledge, skills and entrepreneurial qualities required for the Project
- Marketability of the product/service