Press Release: Legatum Center at MIT Successfully Concludes Bootcamp for Early-Stage Innovators in Ghana

Accra, Ghana – July 26, 2024 – The Legatum Center for Development and Entrepreneurship at MIT, in partnership with the Ghana Enterprises Agency (GEA), the Ghana Hubs Network (GHN), The She Hub Ghana and with the generous support of the Mastercard Foundation, successfully concluded its intensive bootcamp for early-stage innovators in Ghana. The three-day program, held from July 23-25, 2024, equipped 25 promising Ghanaian ventures with the skills and tools necessary to propel their businesses forward.

“This bootcamp provided a valuable platform for Ghanaian entrepreneurs to gain critical insights and strategies for navigating the unique challenges and opportunities presented by growth markets,” said Dina H. Sherif, Executive Director of the Legatum Center. “Through interactive workshops led by MIT faculty, experienced entrepreneurs, and industry experts, participants honed their value propositions, refined their business models, and developed strong leadership skills—all essential ingredients for achieving sustainable growth.”

The bootcamp’s curriculum, characterized by the integration of the Center’s own growth market case studies with cutting-edge theory, covered topics such as design thinking, product-market fit, systems change entrepreneurship, and market-creating innovation.  Participants also gained practical tools for crafting a strong and scalable business model. The final day focused on developing effective leadership skills, crafting compelling narratives, and building strategic partnerships. 

“The Legatum Center Bootcamp was a game-changer! After three businesses, I finally have the clarity to build something truly groundbreaking,” said Charity Dzidedi Ofosuhene, Founder of Black Tech Lead.  “The structured knowledge and incredible network are invaluable. Huge thanks to the Legatum Center, the Ghana Enterprises Agency, and Ghana Hubs Network for this amazing opportunity.” 

Recognizing the critical role of partnerships in delivering impactful bootcamps, the Legatum Center acknowledges the invaluable support of GEA and GHN, for creating a welcoming environment for the participating innovators. 

“The Legatum Center Bootcamp aligns perfectly with GEA’s mandate to empower Ghanaian businesses and equip them with the tools they need to thrive,” Mrs. Kosi Yankey-Ayeh, CEO at the Ghana Enterprises Agency. “We are proud to partner with the Legatum Center and GHN to cultivate a vibrant innovation scene in Ghana. This bootcamp provided a valuable platform for early-stage ventures to gain the knowledge and connections necessary to contribute to our nation’s economic growth.”

The Legatum Center remains committed to fostering a thriving ecosystem for innovation and entrepreneurship in Africa. Bootcamp participants now join a community of thousands of innovators, change agents, and ecosystem players across the continent connected through the Legatum Center and its program partners.

ENDS

About the Legatum Center

The Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT) was founded on the belief that entrepreneurs and their market-driven solutions are critical to advancing sustainable prosperity across global growth markets. Since its founding in 2007, the Legatum Center has supported hundreds of entrepreneurs from across Africa, the Middle East, Asia, and Latin America, including 326 Legatum Student Fellows and 23 Foundry Fellows (Over 57 countries); securing MIT’s presence in innovation ecosystems across Africa by supporting leading entrepreneurs who serve as role models for the next generation of leaders.

About The Legatum Center’s Bootcamps

The Center's Bootcamps programs aim to support early-stage entrepreneurs and innovators by providing them with the necessary tools, principles, and frameworks to create impactful ventures. These bootcamps foster a community of innovators dedicated to driving economic growth and addressing critical needs in growth markets. Faculty from the MIT Sloan School of Management and other departments actively participate in the bootcamps, providing lectures, workshops, and mentorship sessions.

About the Ghana Enterprises Agency

The Ghana Enterprises Agency (GEA) is the apex governmental Agency under the Ministry of Trade and Industry (MoTI) responsible for the promotion and development of the Micro, Small and Medium Enterprises (MSMEs) Sector in Ghana.

GEA, formerly the National Board for Small Scale Industries (NBSSI) was established by an Act of Parliament (Act 1043) in November 2020. The GEA Act 1043 was assented to in December 2020. The Act mandates GEA to Coordinate, Implement and Monitor the activities of the MSME Sector.

The long-term goal of GEA is to support the MSME Sector to maximize its contribution to the country’s economic and social development with respect to production, income distribution, and employment, as well as promoting closer participation and integration of women and communities in rural areas into the national economy.

GEA provides Business Development Services (BDS) to MSMEs, facilitates access to credit and supports the formalization of the MSME Sector in Ghana in a decentralized manner mainly through the Business Advisory Centres (BACs) /Business Resource Centres (BRCs).

The GEA Head Office is located in Accra and operates sixteen (16) Regional Offices, two hundred and twenty-four (224) District Offices known as Business Advisory Centres (BACs) and fifty-six (56) Business Resource Centres spread across the country. 

For more information about GEA, please visit our website: www.gea.gov.gh

About the Ghana Hubs Network (GHN)

The Ghana Hubs Network is the umbrella body of tech and innovation hubs, set up to support and promote collaboration of hubs to build a strong entrepreneurial ecosystem. Ghana has a fertile startup ecosystem, and their mission is to advocate for policies to support its growth, as well as to sustain a cohesive and supportive environment for innovation.

About the She Hub Ghana

She Hub is an initiative that was set up as a hub to provide support and services to strengthen women-owned businesses, women and girls who are looking to create livelihoods. It is the 1st female hub that supports women and girls by providing a space to develop and grow their ideas. The hub provides information, builds networks and supports capacity development.