- Commencement of the RUI cohort 2
The Recycle Up! Ghana Incubator Program(cohort 2) officially commenced with an introduction of Startups to the RUG team and vice versa. The cohort had eight(8) vibrant startups for the incubation phase. This was followed by the monthly training modules.
- Introduction of Mentors
Each business team was introduced to a pair of mentors(local and foreign) to guide, assist and advise them on the pros and cons of the related areas within which they operate.
- Completion of 3 Modules
The business teams by the end of the first quarter (March) were successfully taken through the first 3 modules of RUI’s incubation program,
- Introduction and goal setting – January
- Idea Validation – February
- Product Validation – March
- Mid-Incubation Assessment
Startups were assessed halfway through the incubation program in order to keep track of their progress, where there are shortfalls and areas where the RUG team can better support and assist them to bring out the best in them. All 8 business teams were assigned individual conductors to aid the assessment process.
- Prototype Funding Support
All business teams were asked to submit their budget/invoice to aid management transfer funds in developing the various prototypes. Thankfully, all SMEs were able to do the needful and received their funds as promised.
- Legal Clinic Support Service
Recycle Up! Ghana contracted one of the topmost legal firms in Ghana, Egality Law firm to run a series of training sessions on legal issues associated with the entrepreneurial ecosystem after which each business team had an hour opportunity to meet one-on-one with a team of legal professionals to address specific issues. At the end of the contractual period(3 months), 4 business teams actually made good use of the opportunity and were very grateful and satisfied with the service provided.
- Completion of the Incubation Program
At this stage, all eight(8) startups had successfully completed the entire incubation modules and are at an investor readiness state where they are in the position to attract investors to invest in their businesses.
- Demo Day
A hybrid event was held for seven(7) graduating business teams as one business team was indisposed on the event day. Startups were allowed to showcase their prototypes which included, recycled cloth pieces into doormats, aquaponic systems, biodigester that produces gas from organic waste, coir peats, poultry incubator from old and spoilt refrigerators, and the like. While showcasing/exhibiting, Business teams took turns in pitching their businesses to audiences both on-site and online.
- Startup Weekend
As a Bootcamp in preparation for Recycle Up! Ghana incubator cohort 3, Startup Weekend 2021 was organized to get young like-minds that are ready to learn as well as those that have business ideas in the circular economy space together, pair up as business teams and were taken through some selected topics to aid them to develop business models and further pitch presentations which were the ultimate. In all 23 represented of which 13 teams including sole proprietors were formed. At the end of the pitch session, three (3) business ideas qualified into the RUI cohort 3 as they topped in terms of scores. The winning team won a cash prize of Ghs 2000.
- Recruitment for RUI cohort 3
Call for applications was finally released to make way for young entrepreneurs who have the passion to operate within the circular economy to apply then go through the selection process after which the best five(5) would be selected to join the winners of startup weekend for the incubation program for the next six(6) months.
THE GrEEn INCUBATION PROJECT:
The first quarter for the SNV Green project began with applicants screening for cohort 1 with an initial number of about 26,600 people reached between the ages of 18-35 (58% male, 42% female) through engagement with the Ashanti regional Municipalities & BAC’s and an online campaign for participants. A final of 19 SMEs were shortlisted for an interview of which 4 made it into the incubation program after due diligence.
Hub mini Launch
The hub level mini launch for cohort 1 commenced with 15 entrepreneurs, partner hubs, and other dignitaries, afterward there was an orientation for the cohort 1 SMEs, Entrepreneurs were introduced to the concept of the incubation program
The training sessions for cohort 1 officially commenced with sessions specially tailored to meet the needs of the SMEs, these topics were ranging from leadership and personal development, administrative and operational competence, branding and positioning, supply chain and production, hard skills, legal training in business development and Green talks, these sessions were virtual, in-person and some hybrid events to meet the needs of all entrepreneurs
The scouting for cohort 2 for the SNV GrEEn Incubation began with over 1000 applicants from traditional recruitment alone, the numbers were shortlisted to a final 13 through interview sessions, and these businesses qualified for the due diligence of which 4 SMEs were selected
The mentorship program began with an introduction to the Mentor for the incubation program who took them through a one on one needs assessment session to find out the actual needs of every SME to better address them through the incubation program
Businesses exhibited their products to over Sixty-one (61) potential customers and investors in the hybrid event having people virtually and in-person across Africa
Legal Clinic for a startup (cohort 1) Scheduling of a consultative legal clinic by SMEs with our partner law firm, Equality law, Ghana. Legal consultation by the legal service providers
Orientation Cohort 2
Orientation session for cohort 2 Four (4) Business teams were contacted for the hybrid session with 2 businesses online and 2 in person. Businesses were given the roadmap to the incubation program and also businesses were introduced to the curriculum for the incubation period
Mini launch (cohort 2)
Four business teams were invited for mini launch from both cohorts 1 & 2, the overall mentor gave an introductory talk on Green Businesses and how to be consistent and relentless in their quest to be Mentors, BACs, and entrepreneurs were invited. Businesses shared their entrepreneurial journey and Challenges.
Business Development Support Service
Assisting startups to apply for GrEEn innovation challenge 5 startups applied for GrEEn innovation challenge which had 12 businesses being awarded, and among them Recycle Up Ghana was able to have Four (4) of its SMEs winning an accumulated amount of GH 310,000.00 which is a little bit over $50,000.00
Training Cohort 2
The training sessions for cohort 2 also officially began with sessions specially tailored to meet the needs of the SMEs, these topics were ranging from leadership and personal development, administrative and operational competence, branding and positioning, supply chain and production, hard skills, legal training in business development and Green talks, these sessions were virtual, in-person and some hybrid events to meet the needs of all entrepreneurs.
Investment Forum Pitches
Competition (Cohort 1&2) Entrepreneurs from both cohorts pitched their business ideas to a panel. Entrepreneurs were asked questions based on their pitch deck. Eye Of the brain eco feed and Recycling field Ghana qualified for the investment Forum of which zidicircle and other angel investors were present