The New Economy Booster Program For Entrepreneurs In Ghana And Nigeria

The New Economy Booster Program is calling on impact-driven entrepreneurs to come and shape the post-COVID-19 economic recovery of Ghana or Nigeria.

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Firstly, the goal of the program is to boost high potential solutions or ventures that are already in the market. Or ready to go-to-market and are creating a positive impact on challenges faced by key sectors in the Ghanaian and Nigerian economies. 

This is an opportunity to bring ventures to the next level, advance business skills, receive expert advice, and nourish potential investor relationships. The program is created by Impact Hub in partnership with the lab of tomorrow and with the support of The German Federal Ministry for Economic Cooperation and Development (BMZ). 

About The New Economy BoosterProgram

The New Economy Booster is designed to support impact-driven entrepreneurs with both advanced and early-stage ventures, startups, non-profit organizations, or initiatives based in Ghana and Nigeria that are contributing to the country’s post-pandemic economic recovery.

They want to boost solutions or ventures in sectors that have been affected by COVID-19, particularly those that are at risk of or have experienced job losses. 

In its seven-month tailor-made online program, successful candidates will get a range of customized content and resources to develop and grow their business and network while being guided by a team of local and global experts.

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Benefits

So, if you are selected to be part of the New Economy Booster, you will get a chance to;

1. Get business coaching
2. Receive senior expert advisory and consulting services
3. Meet potential investors and have facilitated introductions to fundraising opportunities
4. Access personal development and technical skills training
5. Get peer support from other participants
6. Access partnership building opportunities
7. Have an expert in residence helping your project develop
8. Work and meet at an Impact Hub space (once lockdown restrictions get lifted)

How It Works

The New Economy Booster Program will be in three phases;

Phase 1: Application | 1-month 

• Sourcing of 500 innovative solutions, 250 per country, that address the challenges that have been identified.
• Then, all 500 will receive; access to the online global community via the program’s Global Connect Membership. 

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Phase 2: Incubation |  2 months 

• Then, a selection of the top 100 ventures, 50 per country to incubate.
• Also, all the 100 will receive; 5 hours of coaching, access to resources and connections, and an online community to network with that will be tailored just for you. 

Phase 3: Acceleration | 4 months 

• Selection of the top 30 ventures, 15 per country to accelerate. 
• Also, all 30 will receive; Project management and coordination guidance, a tailored diagnostic and development plan, and access to a support network to help grow your business. 

New Economy Booster Program Selection Criteria

Generally, successful applicants will be chosen by Impact Hub and partner representatives based on these criteria;

Impact – The potential recovery of the Post-COVID-19 economy in Ghana and/or Nigeria

Scalability – The proposed solution has the potential to create local employment opportunities

Feasibility –  The proposed solution is technically and economically feasible

Team – Commitment of the project team to follow through and collaborate

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New Economy Booster Program Eligibility Criteria

Basically, impact-driven entrepreneurs with both advanced and early-stage ventures, high-potential startups, non-profit organizations, and initiatives based in Ghana or Nigeria can apply. So, if you fit in, your initiative should;

1. Identify key economic recovery challenges and opportunities in your local community
2. Have the potential to generate a great social or environmental impact
3. Be preventing job loss or generating new employment opportunities in industries that are suffering or are at risk of suffering
4. Scalable, making some revenue or projecting to make some revenue in the near future 
5. Are already in the market or ready to go-to-market

The New Economy Booster Program will be focusing on projects that are addressing challenges in the following industries;

Ghana

1. Agriculture
2. Healthcare
3. Education
4. Tourism
5. Hospitality
6. Manufacturing

Nigeria

1. Agriculture
2. Healthcare
3. Education
4. Creative and Culture
5. Trade

Please Note: If you are not applying as an entrepreneur/venture but interested in becoming a program partner and help with coaching, mentoring and expert advice, there is also a room for you. Use the ‘Contact Us’ form on the page to get in touch with the organisers.

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The deadline for application for the New Economy Booster Program solutions/ventures is October 9, 2020, or after the first 500 submissions (250 per country). So, if you fit in, apply now using this link; https://impacthub.force.com/neweconomybooster/s/

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