Government must be ready to own, support digital and innovation startups – VCTF

The Venture Capital Trust Fund (VCTF) has reiterated the need for the government to take greater ownership of the digital and innovation space in order to fully realise its potential benefits.

According to the Fund’s General Manager, Percival Ampomah, relevant agencies must mobilise local support and funding to empower startups in the digital sector.

Speaking at the launch of the Ghana Digital and Innovation Week (GDIW) 2025, Ampomah acknowledged the contributions of donor partners but emphasised the need for local actors to take charge of the space.

“It is important that we mobilise local capital to push this agenda. More often than not, and you can see in this room, those who actually finance our innovation in Ghana are from outside,” he said, adding that the “UK government is interested in advancing research and innovation in Ghana.”

He continued, “But what about us? What are we doing? Where are the institutions that are ready to put money on the table to finance these innovations, support universities, and transform ideas into actual businesses?”

This year’s GDIW, scheduled for November 12–14, is themed, “Catalysing Change: Innovation and Digital Transformation at the Centre of Ghana’s Development Agenda.”

Speaking to the media on the sidelines of the launch on July 30, 2025, the Chairperson of the GDIW, Yaw Adu-Gyamfi, highlighted the programme’s core focus on collaboration and decentralisation.

As the initiative marks its fifth year, he emphasised the importance of expanding digital innovation across the country.

“What is key about this event is the fact that we are showcasing collaboration and the decentralisation of innovation and digital programming,” he said.

Adu-Gyamfi revealed that efforts are underway to extend the programme to all 16 regions of Ghana.

“When we started in 2021 and 2022, all the programmes were held in Accra, at the Accra International Conference Centre. In 2023 and 2024, we expanded to three additional regions: the Northern Region, the Ashanti Region, and the Eastern Region. By 2024, we were in six regions. What we are trying to demonstrate is that initiatives like this must also happen in the regions,” he explained.

He added that while the central government is providing support, there is a need for regional governments to also play a more active role.

“We want government at the regional level to support and govern these efforts because we are also trying to showcase the potential that exists in the regions.”

SSD/MA