Nkabom Program empowers youth with $1,000 innovation grants and $10,000 scale-up capital
By Maame Efua Kwaduah
Associate Professor of Entrepreneurship at the University of Ghana and Entrepreneurship Pillar Lead of the UG Nkabom Collaborative, Prof. George Acheampong, has emphasized the need for a stronger, more supportive environment to help young entrepreneurs thrive.
Speaking during a media engagement, on Thursday Prof. Acheampong noted that although many young people in Ghana possess talent, passion and innovative ideas, they continue to face significant barriers that limit their ability to succeed.
He identified three key areas that determine whether young entrepreneurs can excel a supportive environment, access to resources, and effective support systems.
According to him, creating the right environment means ensuring that young people have access to accurate information, mentorship and opportunities that allow them to explore their potential without unnecessary obstacles. He stressed that the entrepreneurial space remains highly competitive, making it difficult for many young people to stand out without targeted assistance.
Prof. Acheampong explained that the Nkabom Collaborative is working to close these gaps by building structures that equip the youth with practical skills, financial literacy, and networks that connect them to markets and investors.
He noted that some of the ongoing projects are designed to stimulate economic activity, promote innovation and support small businesses to grow sustainably.
He further highlighted the importance of access to financing saying many promising ideas never materialize because young innovators do not have the capital needed to test or scale their concepts.
The Collaborative, he said, aims to introduce mechanisms that help emerging entrepreneurs secure small grants and seed funding to start or expand their ventures.
He explained that under the Nkabom Collaborative’s youth entrepreneurship support model, they are offering US$1,000 each to 100 young people in the agricultural value chain to “play with the money.”
According to him, the purpose of the grant is to allow young innovators to test ideas, explore opportunities and demonstrate what is possible when they are given room to think and act creatively.
Prof. Acheampong revealed that 92 young people have already received the initial US$1,000 grants, with the freedom to pursue any idea or venture they believe can grow with the support.
He stressed that there are no restrictions on how beneficiaries use the funds, as the aim is to stimulate innovation, curiosity and real-world problem-solving.
He further disclosed that if beneficiaries are able to show clear potential and demonstrate how they can multiply the initial US$1,000, the programme is prepared to offer them a second, much larger grant of US$10,000.
This second-stage funding, he emphasized, will also be a grant, not a loan, to ensure young entrepreneurs can scale promising ideas without financial pressure.
Prof. Acheampong also acknowledged the broader challenges within the economy, including market uncertainty and limited job opportunities, which make entrepreneurship even more crucial for national development.
He encouraged the youth not to lose hope but to take advantage of available platforms, including the Nkabom programmes, which provide training, mentorship and exposure to both local and international networks.
“Our goal is to build a system where young people don’t just dream about entrepreneurship but have real opportunities to start, grow, and succeed,” Prof. Acheampong stated.
He added that by strengthening support frameworks and ensuring inclusive participation especially for women the Collaborative aims to drive long-term economic transformation.
