In a remarkable display of innovation and entrepreneurship, Five Business Start-ups from Kwame Nkrumah University of Science and Technology (KNUST), Kumasi have won a total of Ninety Thousand United States Dollars ($90,000) as seed funds at the 2024 Kosmos Innovation Center (KIC) Agritech Challenge Pro finals. The awards were presented to the Vice-Chancellor of KNUST at the Council Chamber on 21st May 2024.
Thirty-five (35) business start-ups from ten (10) public universities qualified for the final business pitch after undergoing five (5) months of mentorship from technical teams at various universities. This year's competition saw twenty-three (23) out of the thirty-five (35) business start-ups awarded seed funding ranging from Ten Thousand United States Dollars ($10,000) to Thirty-Five Thousand United States Dollars ($35,000). Notably, all five (5) start-ups from KNUST received awards, with McHan Cosmetics winning the ultimate prize of Thirty-Five Thousand United States Dollars ($35,000) for its innovative recycling of cocoa pods into premium potash and soaps. Other award-winning start-ups from KNUST include Tekcycle Ghana Limited - Twenty Thousand United States Dollars ($20,000), Freshline Post Harvest Solutions - Fifteen Thousand United States Dollars ($15,000), BunnyBite Ghana Limited - Ten Thousand United States Dollars ($10,000), and GanaFert - Ten Thousand United States Dollars ($10,000).
During the award presentation ceremony, the Vice-Chancellor, Professor (Mrs.) Rita Akosua Dickson congratulated the teams for making KNUST proud and for embodying the entrepreneurial mission of the University. She promised the University’s support for the KIC Agritech Challenge and advised the teams to maintain a high level of discipline, commitment, and focus in pursuing their entrepreneurial dreams. "You have written your names in gold. Be disciplined, and you will go beyond the sky and keep shining," she remarked.
Professor Wilson Agyei Agyare, the Director of the Directorate of Students Affairs (DoSA), expressed pride in the students' achievements, noting the significance of their success in bringing glory to the University. He referenced the memorandum of agreement signed two years ago between KNUST and KIC, which underscored KNUST's commitment to fostering entrepreneurial growth.
Professor James Osei Mensah, Associate Professor at the Department of Agricultural Economics, Agribusiness, and Extension and the Faculty Advisor to the teams, thanked the Management of KNUST for integrating entrepreneurship into the University’s educational framework. He highlighted the crucial role of entrepreneurship in addressing unemployment and fostering socioeconomic development in Ghana and Africa. He encouraged students to leverage their creativity and innovation to tackle societal challenges.
Dr. Samuel Yaw Akomea Esq., Head of the Kumasi Business Incubator (KBI), emphasised that the milestone marks the beginning of the entrepreneurial journey for the students. He assured the teams that the KBI would provide essential support in navigating legal processes and standardising their products to facilitate long-term beneficial opportunities.
The KIC Agritech Challenge Pro is a collaborative initiative between the Kosmos Innovation Centre and public tertiary institutions. It aims to nurture entrepreneurs to develop businesses offering sustainable and commercially viable solutions to critical societal challenges in Ghana's agricultural sector. The programme aspires to drive technology and innovation as catalysts for enhancing productivity, improving yields, and creating jobs within the agricultural sector in Ghana and beyond.
KNUST's Technical Team was led by Professor James Osei Mensah, Dr. Samuel Yaw Akomea Esq. and Nadiatu Ali.
