The National Entrepreneurship and Innovation Plan (NEIP) is a flagship policy initiative of the government of Ghana with the primary objective of providing an integrated, national support for start-ups and small businesses, focusing on the provision of business development services, business incubators, and funding for youth-owned businesses.
NEIP exist to enable new businesses to emerge and give them the space to grow, to receive financing and business development services, to secure orders during the critical formative years, and to tap into a wide supply chain and network for their growth years, helping to create jobs at a widely distributed national level.
The past years have seen youth unemployment soaring in Ghana. The world bank estimates that one of every two Ghanaian youth is unemployed. This is a startling revelation and is not a good sign for the economic growth of this country. The current NPP government have a firm conviction that the way out is ENTREPRENEURSHIP AND INNOVATION. NEIP has therefore come as a solution to this national youth unemployment challenge.
The National Entrepreneurship and Innovation Plan (NEIP) is therefore set within the context of Ghana’s long-term strategic vision of consolidating it middle-income status, building an industry-driven economy capable of providing decent jobs that are suitable and sustainable for development.
For NEIP to achieve it set objectives, NEIP will run on four (4) Key Implementation modules; these are;
NEIP INCUBATION & ACCELERATION PROGRAMME (SUBSIDIZED WORK SPACE FOR YOUNG ENTREPRENEURS)
NEIP BUSINESS COMPETITIONS & BUSINESS SUPPORT PROGRAMME (NATIONAL EARLY STAGE BUSINESS COMPETITIONS)
NEIP INDUSTRALIZATION PLAN (Provision of Industralized and Machining of Subcontracting industries)
Provision of Subsidized Workspace for Young Entrepreneurs which will be resourced with business development facilities, meeting rooms, conference rooms, shared office space and other related service.
In this project NEIP will partner private sector investors to set these Business Incubator Hubs and Industrial parks for youth owned businesses. There some few Incubation hubs across the country and there are some key stakeholders who have interest in Business Incubation and Innovative hubs. A few have been listed in the table below. All these and more would be engaged as we set up the biggest Workspace for budding businesses in Accra and the other regional capitals
NUM ENTREPRENEURSHIP HUBS INSTITUTIONAL SUPPORT (GRANTS)
1 IMPACT HUB ACCRA BRITISH COUNCIL
2 TEDX ACCRA ENGINE (TECHNOSERVE GHANA)
3 KUMASI HIVE TOTAL PETROLEUM
4 HAPASPACE ADUM DFID/UKAID
5 ACE INNOVATIVE HUB KUMASI & BA USAID
6 TANOAH SME HUB ADRA GHANA
7 SMITHTIPS CO. LTD KOSMOS INNOVATION CENTRE
8 SOCIAL ENTERPRISE GHANA CHALLENGES WORLD WIDE UK
9 GHANA ENTREPRENEURS NETWORK REACH FOR CHANGE
10 ISPACE TONY ELUMELU FOUNDATION
11 ACCRA DIGITAL CENTRE BUSY INTERNET
12 AFRICA START-UP ACADEMY GOOGLE GHANA
13 GROWTH MOSAIC EMMBASSIES/ CONSULATES
14 MTN FOUNDATION
These workspaces will serve as the Nucleus for the development of the Incubator Hubs as well as the Business Accelerators.
NEIP will Set up 10 INCUBATOR HUBS Across the Country with PPP arrangement.
Our Services within our Business Incubation Hub
Full use of working space for meetings, conferences, seminars, events and trainings. Minimal fees would be charged for these services.
Free Business Information Seminars & Business Advisory services
Access information and application support to business programs provided by the NEIP and other stakeholders.
Get advice and guidance from experienced business mentors and an opportunity to network with individual investors, venture capitalists and angel investors.
Business mentors providing strategic advice, guidance and support to local businesses.
Members will have full use of working space, facilities and Internet in our Hub and attend regular business training programs and events. Co-working space could be acquired on daily, weekly, monthly or on annual basis at a subsidized rate to enable start-ups and SMEs grow their businesses.
After being shortlisted for incubation the enterprises will be supported with seed capital, 12 months mentorship, networking and use of hub space, facilities and resources to grow the business.
NEIP ENTREPRENEURS DATABASE (UNDER THE INCUBATION PROGRAM)
NEIP will set up an entrepreneurship database that will require all businesses under the following categories to register to receive various business support for the growth of their businesses through our Incubation Hubs
Medium scale businesses
Larger Scale businesses
Through this Entrepreneurs database we will be able to know the businesses that have to enjoy our policy on tax incentives to young entrepreneurs as they grow their new businesses.
National Early-stage Business Competition through which candidates will be selected for admission into the Incubator Hubs and receiving funding on set criteria. This module is very critical for Business Development.
Under this module, Early stage Business competitions will be run under some of these sectoral areas to attract the right business ideas to be groomed in our Business Incubator before funding is given to them.
Some of the Sectoral Areas to Undertake the Business Competitions are
Agri- Business and Agro- Processing
Information Communication Technology
Sports, Tourism and Recreation
Sanitation, Waste management, Green and Ecological Businesses
Health, Food and Beverages
Fashion (Clothing & accessories) and Beauty
Media, Marketing and Communication
Manufacturing and Industrial Processing
Real Estate and Construction
Transport, Logistics, Business and Professional Services
We believe that these 10 Sectoral thematic areas will give us a broader view of businesses that would impact the economy.
The Business Competitions would be run in Phases across the country on regional basis. Businesses that would qualify would go through 3 month to 12 month Mentorship and Acceleration programme to get them fully prepared for funding. Preparing these businesses would be done in partnership with privates sector, Experience and established entrepreneurs, industry and Academia.
Under this Module, NEIP will also run two major annual programmes to deepen the awareness creation of the Business Competition.
These two Annual programmes would be
National Youth Entrepreneurship week (NYEW) which would be celebrated annually to either climax or commence the early stage or Start-up business competitions. This week long celebration will be like an ENTREPRENEURSHIP FESTIVAL throughout the country where Investors from different countries would be invited to come and see the great business potentials we have in the country through exhibitions and pitching of ideas from our selected entrepreneurs.
National Business dialogue (NBD); this would be a platform for Start-ups and SMEs to meet the well established private business sector to discuss critical issues confronting start-ups and the opportunities in the business environment of Ghana. It would also be an avenue for networking and mentorship for the budding entrepreneurs.
Under the MODULE 2, NEIP will also undertake the following activities
NEIP INNOVATIVE BUSINESS PLAN COMPETITIONS
NEIP BUSINESS ADVISORY SERVICES FOR EXISTING BUSINESSES
NEIP INTERNSHIP PROGRAMME FOR TERTIARY INSTITUTIONS
NEIP ENTREPRENEURSHIP PROGRAMME FOR SECOND CYCLE SCHOOLS
MODULE 3 : NEIP INDUSTRIALIZATION PLAN
SETTING UP OF INDUTRIAL SUB-CONTRATING EXCHANGE to link large industries in the supply chain process. These small Businesses and Start-ups will become the supply chain for goods and service to feed the large industries.
Under this module, there will be a provision of Subsidised Industrial/ Machining workshops for young entrepreneurs to develop prototypes and or produce to fill orders.
The NEIP INDUSTRALIZATION PLAN have an objective to build 26 small to medium scale industries that will be looking at key thematic areas in the Agro sector and other key sectors of the economy. These small factories apart from being operated as a profitable venture, will also be used as a training centre for the youth with diverse skills of interest so that after the practical training, they can also be in a position to be set up and supported.
EXAMPLES of some of the small factories are:
FRUIT AND VEGETABLE JUICE PROCESSING FACTORY
BRIQUETTE FACTORY (Coconut Husk for organic farming)
COCOA POD PROCESSING FACTORY
PALM OIL PROCESSING PLANT
CASSAVA PROCESSING FACTORY TO PROCESS STARCH, FLOUR, GARI, CASSAVA CHIPS AND FOR BREWING ALCOHOL.
SHARE BUTTER FACTORY
BRICK AND TILE FACTORY
FISH AND LIVESTOCK FEED PROCESSING UNIT
FOOD CANNING INDUSTRY
All these sectoral industries have huge demand for its outputs, but most of the outputs of these industries are being done in a very small informal manner and the Ministry Through NEIP intends to transform these to become centres of excellence and training.
Under these project Access to market is already provided for each of the industries that is to be set up. Off-taker agreements would be signed before production commences.
the NEIP Greenhouse Estate Project. As part of the process of modernizing Agriculture and to make agriculture attractive to the youth and the graduate, the Ministry is embarking on the Biggest Greenhouse Estate in Africa. Currently we have installed 75 greenhouse domes at the Dawhenya irrigation site in the Greater Accra Region. It is our plan to build 1000 greenhouse across the ten regions of Ghana providing 10,000 direct jobs annually through the greenhouse project.
This project also has huge economic benefit to the Nation bringing in an annual revenue of GHs150,080,000 if we install all the 1000 domes with 100 domes per region.
MODULE 4: NEIP FUND
This fund would be a privately managed fund but under the supervision and management of NEIP and the Ministry for Business Development. The capital under this fund would be raised through Government support, grants for International agencies and from the Private sector.
A committee of Fund managers would be put together to manage this fund which would be given to businesses that have gone through our Training, Mentorship and Accelerated program from our Innovation and Incubation hubs.
Funds allocated would be dependent on ones business, the capacity to manage the funds and the business ability to generate and pay back. The funds would be both Grants and Loans with zero or very low interest rate to cushion businesses to grow.
The major focus of all the modules under NEIP is to at least bring 20,000 SMEs and Start-ups into relatable space of growth, Provide funding for 5000 businesses and SMEs and create 500,000 direct and indirect jobs along the various value chains within the 4 years.