Ghana is set to reshape its startup funding landscape with a bold initiative led by the Ministry of Communication, Digital Technology, and Innovations. Inspired by the globally popular “Shark Tank” television show, the Ministry plans to launch a competitive pitching model aimed at connecting local startups with essential business support and funding. This move marks a significant shift toward more structured, investor-driven startup development in the country’s tech ecosystem.
Filling the Business Skills Gap
While Ghana’s tech community continues to generate promising innovations, many founders face challenges translating ideas into scalable businesses. The new model seeks to close this gap by pairing startups with experienced advisory firms that offer strategic guidance, business development services, and access to networks. By doing so, the Ministry aims to empower innovators to focus on product building while receiving the business expertise they often lack.
How the Model Will Work
Selected startups will pitch their products or services in a high-stakes, competitive format modeled after the “Shark Tank” concept. During these sessions, advisors from major consulting firms—such as KPMG—will evaluate the pitches and choose startups to mentor and support. Rather than distributing grants, the initiative prioritizes long-term investment-readiness and entrepreneurial capacity building.
Strategic Partnerships at the Core
The program will be co-developed in collaboration with KPMG, whose involvement brings both credibility and technical depth to the initiative. According to Andrew Akoto, Country Managing Partner at KPMG Ghana, the model aligns closely with ongoing efforts such as the Global Tech Innovator competition, reinforcing KPMG’s commitment to fostering tech entrepreneurship. This partnership signals a growing trend of private-public collaborations aimed at nurturing high-potential African startups.
Government’s Vision for Sustainable Growth
Speaking on the initiative, Hon. Samuel Nartey George, Minister for Communication, Digital Technology, and Innovations, highlighted the goal of building a sustainable innovation ecosystem. He described the program as a “Ghanaian Shark Tank,” where investors and advisors work closely with entrepreneurs who show the most promise. This reflects a broader government strategy to shift from one-time financial support toward ecosystem development and scalability.
Learning from Local and Global Precedents
The new model will also draw lessons from existing programs such as the Ghana Fintech Awards, which celebrate innovation in digital finance, and international startup competitions. By integrating best practices from both local and global initiatives, the Ministry hopes to refine its approach and deliver a program that’s both culturally grounded and globally competitive. These references provide a foundation to tailor the model to Ghana’s unique entrepreneurial landscape.
A Pipeline to Investor Readiness
Crucially, the Ministry’s plan is designed to move beyond the limitations of grant-based funding by cultivating startups that can attract private investment. This focus on mentorship and long-term growth is intended to improve the quality and quantity of investor-ready businesses in Ghana’s tech sector. The hope is that a more dynamic and supportive startup pipeline will attract broader regional and international interest.
Looking Ahead
Over the coming months, the Ministry and KPMG will finalize the structure of the program, building on feedback from stakeholders and past initiatives. Pilot rounds are expected to provide key insights into what works and where improvements can be made. If successful, the model could serve as a blueprint for similar efforts across the West African region.
With this initiative, Ghana positions itself as a forward-thinking player in Africa’s innovation economy. By addressing both funding and capability challenges through an engaging, competitive platform, the Ministry aims to build a more resilient and scalable startup ecosystem. The coming rollout of this model will be closely watched as a potential catalyst for a new generation of tech-enabled growth in Ghana.