President Akufo-Addo has assured young Ghanaian entrepreneurs that his administration will give full backing to the new and developing entrepreneurship trends among the youth.
Government, he said will create a business friendly environment for entrepreneurship to flourish.
President Akufo-Addo was speaking in Accra at the launch of a “Presidential Pitch” organised by the Ministry for Business Development.
“Presidential Pitch” is a platform for young entrepreneurs between the ages of 18 and 35 to pitch their business ideas and receive capital funding from government.
Some 200 applications have been received which was cut down to 20 and then further narrowed down to ten.
The initiative is the first deliberate policy by government to nurture entrepreneurs in line with the President’s vision to incubate business ideas and improve livelihoods.
President Akufo-Addo said Ghana has not done well in incubating ideas and developing same into global entities.
It is for this reason that government is supporting new start-ups to ensure the development and growth of the ideas of young entrepreneurs in the country.
The bottom seven award winners received GH¢30,000 each.
The 3rd, Ahmed Tijani received GH¢40,000 cedis. The first runner up, Abdulsalam Mohammed, received GH¢45,000 and the overall best, 19-year old Vanessa Aisha Limann, received GH¢50,000 Ghana cedis and an additional Gh¢25, 000 personal donation from the President.