President Nana Addo Dankwa Akufo-Addo has praised the National Entrepreneurship and Innovation Programme (NEIP) for transforming Ghana’s entrepreneurial scene.
He said that NEIP had helped to reduce youth unemployment and stimulate economic growth.
Speaking at the 3rd Applied Research Conference of Technical Universities in Ghana (ARCTUG 2024) in Sunyani, the President stated that the initiative had had a tremendous impact on Ghana’s start-up ecosystem, resulting in the emergence of numerous innovative businesses across multiple sectors.
“By offering financial support and business development services, NEIP has enabled 15,000 start-ups to scale up their operations,” President Akufo-Addo stated.
Launched in 2017, NEIP has been a cornerstone initiative aimed at advancing entrepreneurship and innovation in Ghana. The programme provides critical support to start-ups through funding, training, and mentorship.
Launched in 2017, NEIP has been a cornerstone initiative aimed at advancing entrepreneurship and innovation in Ghana. The programme provides critical support to start-ups through funding, training, and mentorship.
President Akufo-Addo stated that the initiative has resulted in the creation of 103,871 jobs as of the end of 2023, promoting economic diversification and empowering the youth.
He noted that NEIP’s success in creating entrepreneurial talent had not only generated thousands of jobs but had also helped position Ghana as an innovation hub in West Africa.
The President emphasised the many forms of support provided by NEIP, such as funding, training, and mentorship.
The programme’s emphasis on providing young entrepreneurs with the appropriate skills and tools has helped to reduce unemployment and create a culture of self-reliance and creativity.
President Akufo-Addo stated that the success of NEIP could be seen in the various innovative businesses that have emerged because of the programme.
He said that those businesses are driving long-term economic growth and enhancing people’s livelihoods.
In addition to NEIP, the President underlined the significance of establishing an environment conducive to entrepreneurship.
He noted that the government’s efforts to support entrepreneurship and innovation went beyond the NEIP, with significant investments in education and research.
Since 2020, the government has provided more than GH¢700 million in research and book allowances, indicating its commitment to developing education and research in Ghana.
President Akufo-Addo also emphasised the government’s commitment to STEM education, which is critical for encouraging innovation and entrepreneurship.
He described the numerous initiatives targeted at creating high-quality STEM institutions and programs, such as the Accra STEM Academy, several STEM Centres, and model STEM Senior High Schools.
The President urged all stakeholders to continue supporting projects such as NEIP and to collaborate to accelerate Ghana’s development through innovation and entrepreneurship.
“Together, we can build a brighter future for our nation, characterised by innovation, inclusivity, and prosperity,” said the president.
