Universities are becoming an important locus for spin-out and start-up of technology-based company formation. The concept of the Kumasi Business Incubator (KBI) operated by the KNUST’s Centre of Business Development (CBD) was mooted by KNUST to help turn students’ and researchers ICT-based innovative ideas and research projects into commercial ventures in a business incubator. The National Board for Small Scale Industry (NBSSI) is a major collaborator in this programme. The general idea is to groom entrepreneurs who will bring their businesses into reality. However, business concepts that can be marketed at the “idea development” or intellectual property trade stage without being physically established shall be encouraged; such incubates will be able to raise capital to venture into other areas.
There is no limit to the areas where a project must fit. Most importantly, projects that are in line with national development agenda will be given priority over less development-oriented ones. However, in order to encourage brainstorming and diversity, businesses that show commitment to collaborate during their idea development stage will be preferred. Each project must be innovative and ICT-inclined. There is no limit to the areas where a project must fit. In the KBI management’s opinion, the success of business incubation operation depends mostly on the future success of tenants’ business operations. In that sense the market for the products appears to be the critical factor and of utmost importance for KBI. A less innovative but marketable project will be preferred over a highly technological and innovative project that have less commercial value or lower market attraction.
The major focus will be ICT-related businesses in the various developmental sectors of the Ghanaian economy such as:
- Agro-based products
- Value added Wood and Precious Metal based products
- Aluminium and other metal based products
- Clay based products
- Textiles & Garments, Fashion & Design
- Tourism (Eco-tourism, Medical tourism among others)
- Renewable and Sustainable Energy sources
- Petro-Chemical industry
- Pharmaceuticals, & Chemicals
- Educational improvement
- Health, Medical and Laboratory Products
- Innovative Financial Management interventions and investments
Applicants willing to be considered for the incubator program should apply by sending a short product description of the business or idea to firstname.lastname@example.org
Shortlisted applicants will be contacted for an interview.