The Kwame Nkrumah University of Science and Technology (KNUST) has taken significant steps to advance the Vice-Chancellor’s ‘1 Department, 1 Start-up’ initiative.

To drive this effort, the Centre for Business Development (CBD), KNUST, convened a stakeholder meeting to evaluate existing departmental businesses, identify challenges, and outline strategies for sustainable growth and competitiveness.

The meeting brought together key stakeholders to address critical issues such as financial feasibility, procurement processes, compliance, and enterprise development.

The initiative aligns with KNUST’s broader strategy to commercialize research and innovation, fostering a culture of entrepreneurship across academic departments.

Dr. Charles Nsiah, the Finance Officer, emphasized the crucial role of funding and business planning in the success of departmental start-ups.

"Most challenges revolve around securing seed funding and developing a comprehensive business plan. Clearly defining these aspects is essential for financial sustainability," he stated.

Mr. Moses Tsiquaye, the Internal Auditor, acknowledged the challenges faced by university business units and proposed a structured framework to streamline operations.

"We have a model that can be adapted to fit the specific needs of each production unit, ensuring a more structured approach to managing financial and operational hurdles," he noted.

Mr. Duke Agyeman Fredua, Director of the Procurement Office, assured participants of his commitment to minimizing delays in procurement processes to support business growth.

The Pro Vice-Chancellor, Professor David Asamoah, commended the initiative and pledged continued institutional support to develop a functional framework benefiting all stakeholders.

"I appreciate the enthusiasm and commitment of all involved. This collaborative effort will lead to a robust framework that fosters innovation and entrepreneurship across the university," he assured.