Modern technology’s influence on start-ups
The managing director for a digital tech lab, Ho Node Hub, Mr Courage Asase, has encouraged start-ups to make use of modern technology to scale up their business.
He said the world we live in is gradually gravitating towards digitisation at a high speed and everything including businesses are moving in that direction, therefore, it is important to digitise one’s business to keep it afloat.
Mr Asase gave this advice during a panel discussion for the national acceleration programme, a six months acceleration programme run by the Hub in partnership with Ghana Tech Lab.
The focus of discussion was on possible ways of starting business, and aimed to equip start-ups with business ideas generated from our environment to enable them operate a successful business.
It is evident that tech backed businesses are scaling up more than businesses with old regular ways, he said. He tasked young entrepreneurs to equip themselves with modern technology to expand their businesses, and to attract customers and funding.
The Managing Director further charged the youth to take advantage of available resources around them in any business environment they find themselves in to start their own business.
He said job opportunities are very scarce in recent times, therefore, it was imperative for people, especially the youth to venture into entrepreneurship and make good use of resources available to them to enhance their lots.
Mr Asase said though the country has been doing well in creating a conducive business environment for businesses to thrive, a lot more had to be done to support start-ups, adding that a good ecosystem was vital to empowering start-ups to flourish.
Mr Desmond Kitsi, who is also the Chief Executive Officer (CEO) of Genius IT Foundation, said it was imperative for entrepreneurs to have scalable ideas so they can establish scalable businesses that would yield maximum benefit.
He said if a person’s business idea was not scalable, whatever efforts he or she made or techniques deployed, it would be difficult to scale up the business.
“For us to be able to build scalable businesses, then we need to first of all find ideas that are scalable, because if the idea itself is not scalable, no matter what you do, it would not scale,” he said.
Mr Kitsi charged start-ups to be “customer incentive” and studied the market very well to guide them to know where exactly to focus their businesses to make profit and avoid incurring costs.
Mr Selali one of the panellists present urged young entrepreneurs to develop innovative ways and strategic plans to market their business to the rest of the world.
Two start-ups, Mac Studio and Ke Krafts, who are into graphic design and arts and crafts respectively, pitched their business ideas during the programme.
The winner, who is yet to be declared, will get the opportunity to represent the region at the Ghana Start-ups Summit, a national pitch contest slated for October 1, 2021.
The two start-ups are part of the Hub’s accelerator program and were offered expert advice on how to run a successful business including how to develop business models and strategic plans.