MTN, a telecommunication company, on Friday signed a Memorandum of Understanding (MoU) with the Ghana Multimedia Incubator Centre (GMIC) to support business incubation in the country.

Mr Serame Taukobong, Chief Executive Officer of MTN, said MTN’s support for the special ICT business incubation and entrepreneurship project formed part of its economic empowerment portfolio.He said MTN sought to invest in young entrepreneurs to develop and commercialise digital products and services and also create wealth to strengthen both local and national economies.

He said the project was a two year partnership which would involve the organisation of an innovation competition targeted at final year students with expertise in ICT.

“At the end of the competition, 10 start-ups will be selected into the business incubator programme and the selected 10 incubetees would have their skills sharpened in the areas of soft ware development, programming and applications,” he said.

Mr Taukobong said the MTN Foundation was committing an amount of GH¢ 308,000 to support the project. He said the signing of the MOU attested to MTN’s commitment to leading the delivery of a bold and new digital world to its customers.

Mr Solomon Asante Dartey, Director of GMIC, said the concept of incubation as a business development model had been the best means of support for technology commercialisation, particularly in the area if ICT and the sciences.

He commended MTN for accepting to partner GMIC to push forward the innovative way of supporting technology start-ups. Dr Omane Boamah, Minister of Communications, said the business incubation was very important because it challenged the minds and demand creative thinking.

He said the business incubation would help generate descent jobs for the unemployed youth and commended MTN Foundation for the support. He gave the assurance that government would support the project to make it successful.