{"id":1213830,"date":"2022-09-30T09:12:50","date_gmt":"2022-09-30T09:12:50","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/30\/3-organisations-partner-to-reward-local-businesses\/"},"modified":"2022-09-30T09:12:50","modified_gmt":"2022-09-30T09:12:50","slug":"3-organisations-partner-to-reward-local-businesses","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/30\/3-organisations-partner-to-reward-local-businesses\/","title":{"rendered":"3 Organisations partner to reward local businesses"},"content":{"rendered":"

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\n\"A<\/p>\n

\nA mentee at the Kosmos Innovation Centre being taken through the application process <\/p>\n<\/div>\n

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Three organisations have designed a project to reward innovative and successful Ghanaian-owned businesses that are making a positive impact on society.<\/h2>\n

The organisations behind the project are Kosmos Innovation Centre Ghana, Glovo and Open Value Foundation.<\/p>\n

Known as the Impact Entrepreneurship Competition, the project is designed for entrepreneurs and early-stage companies to generate a positive impact in Ghana\u2019s economic, social and\/or environmental sectors, and contribute to the sustainable development of the country.<\/p>\n

According to a release issued in Accra yesterday, \u201cOver $20,000 in cash prizes and more than $5,000 of in-kind prizes would be awarded to the selected entrepreneurs during the competition.<\/p>\n

The winner will receive a grant of $15,000 from Open Value Foundation. Another $10,000 will be awarded to a company working to improve the health and well-being of others, including businesses tackling environmental issues that impact people\u2019s health.<\/p>\n

Additionally, the release said, based on the jury\u2019s criteria, any of the live-pitch participants would have the opportunity to receive a package of support, including mentoring, investor-readiness advice, networks and introductions to other sources of funding and opportunities to access products and or services donated by partners and collaborators.<\/p>\n

Participation<\/strong><\/p>\n

The release said to participate in the competition, \u201cthe Ghana registered company must have raised less than $250,000 in funding, have been in operations for two or more years, have a clear for-profit or sustainable business model with the potential to scale up, and the ability to demonstrate positive social impact on rural, low-income, or disadvantaged communities in the country.\u201d<\/p>\n

The first stage, the release said would be through online submission of proposals while the second stage will be a physical event where the top eight shortlisted businesses would pitch in person before a panel of judges and investors.<\/p>\n

It said the live pitch would be held on November 4, 2022, in Accra.<\/p>\n<\/div>\n