Government Contemplates Employing 'Shark Tank' Style Presentation for Enhancing Ghanaian Tech Start-ups under Communication Ministry's Jurisdiction
The Ghanaian government, through the Ministry of Communication, Digital Technology, and Innovations, is set to introduce a new initiative that aims to boost the country's tech sector. This innovative approach, inspired by the popular TV show Shark Tank, will see the creation of a "Shark Tank"-style pitching model [1].
According to Hon. Samuel Nartey George, the Minister for Communication, Digital Tech & Innovations, the goal is to establish a Ghanaian version of Shark Tank, where local innovators can pitch their ideas, and advisory firms like KPMG can offer their expertise to those with the most potential [1].
This model is part of the Digital Tech Development Fund, which aims to help Ghanaian tech founders who have strong technical ideas but lack business expertise to scale [1]. Andrew Akoto, Country Managing Partner of KPMG Ghana, stated that this approach aligns perfectly with the Global Tech Innovator competition [1].
The competitive format of the pitching model aims to pair tech founders with seasoned advisors like KPMG, providing them with strategic and business development services [1]. The initiative is aimed at fostering a supportive environment for innovation and growth in Ghana's tech sector [1].
The Ministry's approach aims to move beyond grants and build a stronger pipeline of investor-ready startups [1]. By adopting this model, the government hopes to create a sustainable ecosystem where innovators can focus on product development while advisors guide growth and scale [1].
In essence, this pitching model provides startups with an opportunity to directly pitch investors, increases access to funding and investor networks, promotes startup growth through competitive exposure and feedback, and drives innovation in Ghana's digital tech sector by efficiently allocating capital to promising ventures [1].
This method aligns with global trends where innovation competitions and pitching events accelerate entrepreneur-investor connections efficiently. The Ministry plans to co-develop the model, using lessons from local initiatives like the Ghana Fintech Awards and global startup competitions [1].
[1] Source: Press release from the Ministry of Communication, Digital Technology, and Innovations.
- This initiative, inspired by Shark Tank, will not only see the creation of a pitching model within Ghana's tech sector, but also encourages partnerships between local innovators, education-and-self-development through advisory firms like KPMG, and the growth of business ventures in the technology field.
- By adopting a competitive pitching model like Shark Tank, the Ghanaian government aims to bridge the gap between startups in need of business expertise and established advisory firms, thereby fostering innovation, finance, and development within the country's technology and business sector.
