VCTF partners academia to aid graduate entrepreneurs

The Venture Capital Trust Fund (VCTF) is seeking partnerships with academia to resource graduates with the requisite knowledge and skills to succeed as entrepreneurs.

The Ghanaian government established the Trust Fund in 2004 to provide financial resources to Small and Medium Scale Enterprises (SMEs).

However young graduates continue to complain of lack of finance to start their businesses.

Chief Executive Officer of the VCTF, Daniel Duku, has disclosed to Luv Biz Report an arrangement with the KNUST Business School to support graduates in career development.

According to him, the agreement will ensure graduates are directly assisted in preparing CVs, business plans “and how they can get sponsorship as entrepreneurs”.

Companies under venture capital funding are encouraged to invest in all sectors of the economy, but not businesses engaged in imports to sell.

The maximum funding limit is 15% of a company’s total capitalization and a minimum of $25,000.

Mr. Duku has encouraged graduates with bright business ideas to access opportunities under the Ghana Angel Investors Network (GAIN).

“We’ve had institutional investors and high networked individuals as angels and people that have come out of the university who have good business plans and ideas to pitch [proposals] to the angel investors and if they are interested in your project they will assist you”, he stated.

The GAIN was initiated by the VCTF in 2011. The scheme provides mentorship and other support to entrepreneurs who succeed in closing a deal with the angel investors.