New rankings for start-up companies
The African Network of Entrepreneurs (TANOE), a social enterprise that assists African entrepreneurs to build sustainable businesses, is to release a ranking of the best performing 100 startups in Ghana.
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Dubbed the “Ghana Startup Club 100”, the rankings, according to the Founder and Chief Executive Officer of TANOE, Mr Ekow Mensah, will be a replica of the Ghana Club 100 (GC 100), an annual compilation of the top 100 companies in Ghana by the Ghana Investment Promotion Centre (GIPC). It is about promoting corporate excellence as companies making it into the GC 100 are to serve as role models for the private sector and provide a forum for corporate Ghana to interact with the government at a high level.
Speaking to the GRAPHIC BUSINESS after the maiden edition of the Ghana Startup Awards, Mr Mensah said TANOE would monitor the startups and come out with a list that would be supported further to grow into GC 100 companies.
“We are going to do a lot of events that build the capacity of startups. We have what we call the Ghana Startup Club 100 and we will come out with a list of 100 most performing startups which we will support to scale up their businesses,” he said.
TANOE, he said, was going to do this in partnership with City Investments Company Limited, and the success of the Ghana Startup Club 100 would be when any of the startups make it to the GC 100 list.
“Our main success story is when they make it the main Ghana Club 100. Now that they have been publicly recognised, they can’t give up now. We are going to work with them so that they can actually scale up their business and make it to the top,” he said.
Boosting startups
The network, he said, was concerned about the low level of motivation for start-ups in the country as there was no support system for them and as a result, they feel discouraged.
Mr Mensah explained that TANOE, therefore, decided to provide a mentoring and support base for startups to help draw the kind of support they needed.
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“We decided to do something that gives start-ups that public recognition so that it will draw the kind of support that they need. One solution to unemployment is encouraging graduates to start their business, build it and get a lot of people in the business so that they will not be unemployed,” he said.