ORID LAUNCHES THIRD PHASE OF STUDENT VENTURE SUPPORT PROGRAMME
The Office of Research, Innovation and Development has renewed its’ partnership with Imperial College, London and launched the third phase of the Student Venture Support Programme (SVSP). The programme which started in 2021, seeks to identify talented students with innovative ideas to submit viable business proposals and compete for awards.
Having successfully rolled out the first two phases of the programme, leading to the establishment of companies offering marketable products to industry and the public, the third phase was launched amid keen interest among student groups. Following a competitive review process, twenty-three (23) student teams were shortlisted out of fifty-three (53) proposals submitted.
The third phase of the project launched on May 14th 2024, at Legon Centre for International Affairs and Diplomacy, (LECIAD), in partnership with Impact Hub, Accra, and is funded by Imperial College, London.
Present at the launch was Professor Felix A. Asante, Pro Vice-Chancellor, Research, Innovation, and Development, who welcomed guests and participating teams. He acknowledged the support received from the British Council for the initial phases of the project. Highlighting the competitive nature of the project, Prof. Asante advised participants to diversify the expertise of their teams and develop enterprises with human resources that straddle all areas of business i.e technology, sales/marketing, and communications. He stated that the overarching objective of the IAU project was to foster entrepreneurial acumen in students and encourage them build viable businesses after graduating. He urged teams that were not shortlisted, not to loose hope as there were plans to engage them in other areas in the near future
An overview of the IAU project was presented by Ms. Mammie Hutchful, a Senior Research Development Officer (SRDO) at ORID. She presented a summary of the SVSP project to date, highlighting the progressive trajectory of previous winners of the competitions and the prospects for developing ideas into profitable businesses. Ms. Hutchful outlined the plethora of resources available for selected teams to be trained, mentored and offered support from project partners, and the opportunities for finalists of the competition to visit Imperial College, London. The competitive selection process before a panel of judges, would afford teams the opportunity to pitch business ideas to climax the competition at a National
Demo Day on July 19, 2024. She underscored the immense support that the SVSP programme received from Senior Management of the University of Ghana.
Representatives from Impact Hub, Accra and University of Ghana Business School’s Innovation and Incubation Hub (UGBS NEST), who will support the programme delivery, gave brief highlights of the training outlined for selected teams and expectations, going into the final stages of the competition.
Past winners of the programme shared their experiences with the current cohort, providing insight into their entrepreneurial journey and lessons from the programme which helped to develop their products and ideas for the market.
Participants interacted with previous winners and gleaned useful insights for the challenges and opportunities ahead.
Mrs Diana Owusu Antwi, SRDO at ORID, explained the prospects for patenting of Intellectual Property emanating from original ideas and inventions and indicated that the Technology Transfer and Intellectual Property services at ORID was available to guide them through the necessary processes. She advised teams not to be discouraged if their business ideas were not entirely novel; stating that they should focus on creating added value to any business idea and that would make their product unique.
In his final remarks, Professor Asante encouraged stakeholders to identify ambassadors who would tell a compelling story of the experience and unique possibilities that the Student Venture Support Programme creates for business.
Mrs Owusu Antwi thanked partners and participating teams for being part of the programme
