Call for applications: New Economy Booster programme in Ghana and Nigeria

A seven-month online programme, the initiative was set up with the goal of supporting innovative startups, non-profit organisations, and early-stage and advanced ventures. The programme is also looking to boost solutions or ventures in sectors that have been affected by COVID-19, particularly those contributing to the post-pandemic economic recovery in both countries.

Successful candidates will receive an array of resources to develop and expand their businesses and networks. They will also benefit from mentorship by a team of local and global experts.

Who can apply?

The programme is open to companies based in Ghana or Nigeria with interests in the creative arts, culture, agriculture, healthcare, education, tourism, and trade.

To qualify, applicants must:

• Identify key economic recovery challenges and opportunities in their local community.
• Have the potential to generate a great social or environmental impact.
• Be preventing job loss or generating new employment opportunities in industries that are suffering or are at risk of suffering.
• Be scalable and making revenue or projected to make revenue in the near future.
• Already be in the market or ready to go to market.

How to apply

Interested individuals are required to fill out the online submission form and successful applicants will be chosen by Impact Hub and its partner representatives based on the following criteria:

• Impact – The potential recovery of the post-COVID-19 economy in Ghana and/or Nigeria. 
• Scalability – The proposed solution should have the potential to create local employment opportunities. 
• Feasibility – The proposed solution should be technically and economically feasible. 
• Team – The project team should be committed to following through and collaborating.

The training will be conducted in the following phases:

• Phase one – The one-month selection of 500 innovative solutions (250 per country) that address the identified challenges. 
• Phase two – The top 100 ventures (50 per country) will for two months receive five hours of coaching, access to resources and connections and an online community to network for their project/business. 
• Phase three – The top 30 ventures (15 per country) will for four months receive project management and coordination guidance, a tailored diagnostic and development plan and access to a support network to help grow the business/project. 

The phases are scheduled to run on a non-linear basis until February 2021.

Note: Applications will be reviewed as the programme progresses and high potential participants will be fast-tracked to the acceleration phase.

Successful applicants will benefit from the following:

• Business coaching.
• Senior expert advice and consulting services.
• Meet potential investors and have facilitated introductions to fundraising opportunities.
• Access personal development and technical skills training.
• Get peer support from other participants.
• Access partnership-building opportunities.
• Have an expert in residence, helping the project develop.
• Work and meet at an Impact Hub space (once lockdown restrictions are lifted).

 Application forms for Ghanaians are available here whereas Nigerian businesses can apply here.

The submission deadline is 9 October or after the first 500 submissions have been received.

About the New Economy Booster programme

The New Economy Booster programme was initiated in partnership with the Lab of Tomorrow, whose mandate is to foster the development of new business model-driven solutions for specific challenges affecting developing and emerging countries. It is supported by the German Federal Ministry for Economic Cooperation and Development. 

View the original call here.