... in collaboration with MIT-AITI

Accra, Ghana ? Friday, 23 July, 2004 ? Ghana New Ventures Competition (GNVC) recently supported the Massachusetts Institute of Technology Africa Internet Technology Initiative (MIT-AITI) with a one day workshop on entrepreneurship at the University of Ghana Legon.

Speaking at the workshop, the Acting Chief Operations Officer of GNVC, Andrew Kwesi Kafe encouraged the young audience to consider starting their own businesses in Ghana rather than looking at the outside world for help. He encouraged those with laudable ideas to consider developing those ideas first by accessing free training content on the GNVC distance learning centre (www.ghananewventures.com) and subsequently taking part in the next GNVC business plan competition.

Andrew Kafe further stated that ?GNVC unlike most of its competitors and partners offers trainings and mentorship before the competition and subsequent funding of successful entrepreneurs rather than a competition preceding training? ?This is to ensure that the business plans that are produced by entrepreneurs are of high standards and quality? he stated. Also present at the function was Ms. Chevelle La Toya Dixon, a summer intern with GNVC.

The MIT-Africa Internet Technology Initiative (MIT-AITI) is an innovative program started by MIT students to integrate computers and Internet technology into the education of students in African schools. The program uses innovations such as cutting edge programming tools and free open-source systems to introduce students in Africa to the Internet, and to equip them with skills that will allow them to be creative and resourceful. Given that information technology carries the potential to empower people around the globe with knowledge; African students need to be equipped with the tools and skills needed for the development of information technology. This year, they decided to include a component on entrepreneurship because of the need to help these young people transform their skills into ventures that will go a long way to help Ghana.

GNVC is an international not-for-profit organisation incorporated in Ghana and the US. The organisation was founded by a group of Ghanaian students in the USA who were involved with the leadership of the Massachusetts Institute of Technology?s (MIT) $50,000 Entrepreneurship Competition in Boston, MA. Since its inception, GNVC has aimed to lay the networking and educational infrastructure necessary for entrepreneurs to pursue their goals, learning the skills to start businesses that will benefit Ghana?s people and economy.

GNVC meets these objectives by organising annual business plan competitions centered on training aspiring entrepreneurs to produce effective business plans, empowering them through mentors and role models in the Ghanaian business community, and enabling them to establish their own companies. GNVC also provides the most promising teams of entrepreneurs with start-up grants totaling thousands of dollars.

This year, GNVC awarded $10,000 in total start-up grant commitments to three winning companies: Supply Solutions, Greenfield Agro Ventures, and Rejuve Spa & Resort. In the previous two years of operations, GNVC catalysed the formation of three other new ventures in Ghana ? Strategic Accounting Solutions (SAS), Afroduct, and Peco Training Centre ? each of which received $1,000 in start-up grants. Therefore, the total number of new ventures funded by GNVC via three business plan competitions has become six.

For information: http://www.gnvc.org Or contact: kafe@gnvc.org Phone: 0244-268088 or 021-258-795