Innovation Awards 2019

On the 15th of September 2017, the CIMG (Chartered Institute of Marketing, Ghana) Marketing Man of the Year (2015), Mr Patrick Akorli (The Managing Director of GOIL Ghana Limited) in collaboration with HTU and CIMG launched the Student Leadership Award Scheme. With a GH₵100,000 donation staggered over five years. As a result, GhS50,000 would be available to HTU every year for five years.

The awards dubbed the HTU-CIMG/GOIL ENTREPRENURIAL MARKETING & INNOVATION AWARDS seeks to promote youth entrepreneurship and job creation among the University’s students. It would go a long way to support the entrepreneurial skills development and innovative abilities of our students.

Today, we are here to launch the 1st and this year’s (2018/2019) edition of the awards

Purpose

The project is designed to achieve three objectives:

  1. Give the student body the opportunity to unearth their creative and entrepreneurial abilities.
  2. Help fund the winning start-up ideas that seek to solve a need within the community and beyond.
  3. Give students the opportunity to bring the theories and strategies studied in the classroom to local economy and ultimately create jobs and help in the growth of the region.

Students with brilliant and innovative ideas who want to establish or expand their businesses are encouraged to submit their proposals for assessment.

Phases of The Project

The project is organised under 3 phases starting with the launch of the Awards on 26th March 2019.

Phase One

Students are to submit a one-page business idea

  • The idea must solve a need or challenge of the community and its people.
  • The idea should have a seed capital base of GH₵6000 maximum; this is to ensure that the funds available can be divided for the top two ideas in measure of merit.
  • Participants must ensure that the idea includes a marketing strategy.

The top 20 ideas would be selected for the next stage of the Challenge based on the following criteria:

  • The innovativeness of the idea
  • The business idea must solve a problem (community/national)
  • The idea should have a marketing strategy
  • Sustainability/Scalability would be considered
  • Ability to create Jobs
  • In case of partnership, a maximum of three students can form a team to present a business idea.

Because the winners would undergo training at the University’s Business Incubation Centre, participants must be willing to do their National Service at the University.

Phase Two

From this phase on, commitment, motivation and drive would be key.

  1. The top 20 students would go through a 5 days intensive training in Business plan writing and public presentation.
  2. They have a 7-day period to submit a good business plan from the initial one-page idea document
  3. The board would again meet to assess the business plans submitted and select the top 5

Phase Three

  1. The top 5 businesses would then move to the final day, which is a public pitch day.
  2. The public pitch would have the entrepreneurs make presentations to a panel and the student body.
  3. At this stage it is expected that the selected businesses would have been properly registered using their own resources. Any proposed business that is not registered would be dropped.
  4. The ultimate winner and the runner-up.

The Ho Technical University could have a stake in the business to be established with the winning proposals. Award winners will be schooled in University’s Business Incubator to develop, register and market their products.

SCHEDULE

 S/N ACTIVITY  DURATION MILESTONE(DATE)
1 Submission of one-page idea March 26 2019 - April 5 2019 April 5 2019
2 Training of 20 selected applicants April 15 - April 19 2019 April 19 2019
3 Development of Business Plan April 15 - April 26 2019 April 26 2019
4 Public Pitch and Award May 9 2019 May 9 2019

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