Boost Foundation to host 1st Ultimate Entrepreneur Competition to Nurture & Mentor Young Ghanaian Entrepreneurs

Boost Foundation is scheduled to host Ghana’s first ultimate entrepreneur competition to provide opportunity for young Ghanaian entrepreneurs to access the much needed funding for their entrepreneurial ventures. The competition further aims to provide mentorship and other support services needed to significantly reduce startup failure rate in Ghana, improve business performance of startups and their impact on the larger society.

The competition, with a star prize of GHC10,000, is expected to contribute to enhancing job creation and poverty alleviation in the country  whiles   it inspires, cultivates  and promotes the culture and spirit of entrepreneurship  among young Ghanaians. It is also expected to boost the socio-economic development of the country through the creation of successful businesses and employment.

Organizers of the competition have described Entrepreneurs as the driving forces of positive change and development in any society. In view of this fact, the apparent absence of an initiative aimed at discovering, developing and empowering young Ghanaian entrepreneurs at a significant scale in Ghana  has motivated the creation of this competition ‘Ghana’s Ultimate Entrepreneur Competition’ (GUEC).

The Executive Director of Boost Foundation, Assistant Prof. Dr. Cynthia Addae making a statement said the competition is a reality nationwide entrepreneurship competition designed to elicit, develop, and showcase the latent innovative ingenuity and entrepreneurial spirit in Ghanaian youths towards realizing a broader purpose of nation building.

Accordingly, the contestants will be given a set of tasks which they will have to complete in the course of the competition. Also, during the period of the competition, the contestants will develop and sharpen their entrepreneurial skills as they complete different tasks and progress through the different stages of the competition.

Contestants will create a value proposition for the innovative product concept detailing the value added (features, functionality, etc) and why it is significant. They will develop and justify their marketing strategies for the innovative product concept in terms of specific markets been targeted, pricing strategy, product design/packaging, channel of distribution and promotional strategies. 

Contestants will be eliminated after this round and the remaining 10 contestants will become the top 10 finalists who will proceed to the final stage of the competition and battle for the grand prize and the coveted title of ‘Ghana’s Ultimate Entrepreneur’ for the season.