NEIP initiative has transformed entrepreneurship landscape in Ghana - Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has commended the National Entrepreneurship and Innovation Programme (NEIP) for transforming Ghana's entrepreneurial landscape.

He stated that NEIP had contributed to reducing youth unemployment and stimulating economic growth.

Speaking at the 3rd Applied Research Conference of Technical Universities in Ghana (ARCTUG 2024) in Sunyani, the President declared that the initiative had made a significant impact on Ghana's startup ecosystem, leading to the rise of many innovative businesses across various sectors.

"By providing financial support and business development services, NEIP has enabled 15,000 startups to expand their operations," President Akufo-Addo remarked.

Launched in 2017, NEIP has been a pivotal initiative aimed at fostering entrepreneurship and innovation in Ghana. The programme offers essential support to startups through funding, training, and mentorship.

President Akufo-Addo announced that the initiative had resulted in the creation of 103,871 jobs by the end of 2023, promoting economic diversification and empowering the youth.

He observed that NEIP's success in nurturing entrepreneurial talent had not only produced thousands of jobs but had also helped establish Ghana as an innovation hub in West Africa.

The President highlighted the various forms of support provided by NEIP, including funding, training, and mentorship.

The programme's focus on equipping young entrepreneurs with the necessary skills and tools has aided in reducing unemployment and fostering a culture of self-reliance and creativity.

President Akufo-Addo noted that the success of NEIP is evident in the diverse innovative businesses that have emerged due to the program.

He mentioned that these businesses are driving long-term economic growth and improving people's livelihoods.

In addition to NEIP, the President emphasized the importance of creating an environment conducive to entrepreneurship.

He pointed out that the government's efforts to support entrepreneurship and innovation extend beyond NEIP, with substantial investments in education and research.

Since 2020, the government has allocated over GH¢700 million for research and book allowances, demonstrating its dedication to advancing education and research in Ghana.

President Akufo-Addo also highlighted the government's commitment to STEM education, which is vital for fostering innovation and entrepreneurship.

He outlined the various initiatives aimed at establishing high-quality STEM institutions and programs, such as the Accra STEM Academy, several STEM Centers, and model STEM Senior High Schools.

President Akufo-Addo called on all stakeholders to continue endorsing projects like NEIP and to work together to expedite Ghana's progress through innovation and entrepreneurship.