The University of Ghana (UG) has started a new programme in Innovation and Entrepreneurship.
At a launch on the University’s Legon campus Friday, Vice President Bawumia said the programme which has come to be known as the University of Ghana Innovation and Entrepreneurshp Programme (UGIEP) is a non-academic programme under the auspices of The Vice Chancellor’s Office.
It seeks to foster entrepreneurship and innovation in the University of Ghana, to develop the knowledge and capabilities necessary to create and grow products and services that add social and economic value to society.
At the heart of the UGEIP is empowerment, leverage and value creation.
These objectives, Dr Bawumia said are in line with government’s strategic focus for the economy and human capital development within this COVID-19 era.
“The President, Nana Addo Dankwa Akufo-Addo and his government are working to leave a legacy of a knowledge-based, capable and resilient economy in the context of the 4th Industrial Revolution”, he said.
The five unique programme under the UGIEP include the UG Start Up Challenge,
the UG Incubator, the UG Venture Accelerator, the UG Venture Fund, and
the UG Alumni Angel Investor Network which will serve as the pillars through which the objectives will be achieved.
Available statistics have it that some 250,000 young people enter the job market every year putting pressure on the limited employment opportunities.
Vice President however admitted that “getting this population employed remains our major socio-economic challenge” whilst stressing the need to create new jobs or help provide access to existing job vacancies.
It is therefore the expectation of government that the UGIEP will work with existing initiatives like the Youth Development Authority, the Youth Enterprises Fund, the NEIP, the Ghana Enterprises Agency and others to help young people create sustainable jobs opportunities.
It is for this reason, Dr Bawumia said “government’s strategic anchors of Human Capital Development, Entrepreneurship, Skills development, and education will also provide a platform for this and similar programmes to be scaled up leveraging on our digitalization agenda. ”
Considering the fact that entrepreneurship does not and will not thrive in an environment with difficulties in doing business, he indicated that “we are working to eliminate all bottlenecks in doing business as fast as possible.”
He therefore noted that the use of National Identification Card as a unique identifier, the digitization of the processes at the Registrar General Department and the passage of Act 992, gives specific focus to business as part of the institutional innovation to grow and support entrepreneurship.
“Our pledge as a government is to continue to create the right environment to allow the initiatives and companies started through this program to thrive”, he stated.
In so doing, the Vice President said “I am optimistic that this program will unearth innovations and support and grow companies.”
To that end, he urged the key stakeholders, students, alumni, faculty, agencies and corporates to work collaboratively to ensure that the approach yields the right results.
“I have an unshakeable faith that our country, has a bright future, a future that will be secured by the enterprise, creativity, and hard work of the Ghanaian people”, he emphasised.
By Charles Takyi-Boadu, Presidential Correspondent