AgroSOL wins 4th place on President’s Entrepreneurship Challenge

One of the top participants in the 2018 AgriTech Challenge, run by the Kosmos Innovation Center, AgroSOL has won 4th place in the President’s Entrepreneurship Challenge, organised by the Ministry of Business Development.

AgroSOL is developing an innovative system to source agro-residues for processing companies who go on to use them as raw materials in their work. Agro-residues such as cocoa pods, palm kernel shells and coconut husks are most popular.

The team is currently participating in the 2018 KIC AgriTech Challenge. However, the entrepreneurial team also saw an opportunity for their business in the President’s Challenge. For this reason, they applied to be part of the competition with a new product called “GREENCOAL”. The product seeks to mitigate deforestation and environmental degradation and help reduce the reliance on wood for charcoal.

AgroSOL were among the 20 contestants shortlisted out of the over 1,700 applicants and given to opportunity to pitch. They were subsequently selected as part of the 10 best participants to pitch directly to the President for funding to run or start their business.

The final pitch of the President’s Entrepreneur Challenge took place on 25th June 2018 at the Movenpick Ambassador Hotel at Accra. Richmond Nutsuglo pitched in the presence of the President, HE Nana Addo Dankwa Akuffo-Addo, the Minister of Business Development, the South African High Commissioner, the Zimbabwean High Commissioner and the president of the Greater Accra Regional branch of the Association of Ghana Industries (AGI) and captains of industry amongst others.

Thanks to the KIC capacity building programmes which feature elevator pitch practice and presentation skills training, Richmond was the very first participant to pitch achieve the target 2 minutes of speaking. He did so with only 4 slides too – and was met with resounding applause.

“GREENCOAL” emerged as the 4th best business idea and was awarded with GH₵ 30,000 funding. ($6400)

About the President’s Entrepreneur Challenge

The Presidential Pitch is a project designed to offer young Ghanaian Entrepreneurs from 18 – 35 years of age the opportunity to Market their business ideas and to get financial assistance to implement such ideas. The Project is in line with His Excellency, the President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo’s vision of assisting young entrepreneurs to incubate their business ideas and improve Livelihoods. The programme is being administered by the Ministry of Business Development.