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Regional News Sat, 20 Jul 2013

Respond to academic, industrial needs - Minister

Mr Haruna Iddrisu, Minister of Trade and Industry on Thursday advised tertiary institutions to fashion out their curriculum to respond to the growing academic and industrial needs.

He gave the advice at the launch of Stanford Institute for Innovation in Developing Economies’ (SEED) Regional Centre in Accra.

The Centre is to serve as the focal point for SEED’s regional initiatives to stimulate economic opportunities by accelerating new enterprise formation and scaling high-potential local and regional businesses.

SEED is a Stanford University-wide organisation established in 2011 and housed in its Graduate School of Business.

Mr Iddrisu called on the management of SEED to collaborate with the Board of the National Board of Small Scale Industry for the development of small and medium-scale enterprises in the country.

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“I pledge Government’s support to get the institutional linkages and support to keep it going,” he added.

Mr Iddrisu expressed confidence in the management of SEED to assist in building the capacity of the private sector in Ghana.

He reiterated government's commitment towards creating the enabling environment for the private sector to thrive, adding that, once the rules of engagement and legal requirements were satisfied, investors could repatriate their profits.

SEED was established by philanthropic entrepreneur Robert King and his wife Dorothy King.

It was the founder’s vision to establish an institute dedicated to the practical application of innovation and entrepreneurship to create jobs.

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At a press conference organised earlier, Dr Tralance Addy, Executive Director of SEED said innovation, entrepreneurship and scale are the three pillars that drive the Institute's concept.

He expressed confidence that the Centre would offer hands on training and experiential learning to entrepreneurs and businesses in the West African sub-region, to provide socio-economic opportunities for many.

Dr Addy said businesses needed to be transparent and get their accountancy system in place to position themselves to attract and sustain investors.

He expressed worry that many entrepreneurs considered access to capital as their topmost priority, saying, most businesses rather needed to get their auditing and other best business practices right.

Source: GNA