The Duapa Werkspace, a Skills Development and Business Incubation Centre on Monday signed a Memorandum of Understanding, (MOU) with the Takoradi Technical University (TTU) to develop the next generation of passionate entrepreneurs in the country.

"Over the years, youth unemployment continued to soak the fabric of society leaving many youths depressed and with little hope for any better tomorrow, but the pact between the two entities would resolve to a significant degree the situation over the next five years".

Mr. Erasmus Ackon, the Chief Executive Officer of the Duapa Werkspace, during the Signing of an MOU with the TTU to create the Entrepreneurship Incubation Hub, said with the dwindling fortunes in white collar jobs, it was imperative that the youth were directed and cultured in self employing ventures.

The Hub, “CELLIBS Innovation Hub”, an initiative of Duapa Werkspace is designed as a long-lasting solution to affecting a system that had undoubtedly led to high unemployment and underemployment rates amongst graduates and the youth of Ghana, he added.

The incubation Hub, would teach students of the University Business Development Skills, Business Models, Market Research and Surveys, Minimum Viable Products, business or product incubation, growth and assist with business coaches and mentors for the ultimate realization of the vision of creating many entrepreneurs in the country.

According to him, the hub would be a centre of excellence in entrepreneurship to support students to launch and grow sustainable ventures and that the students would also be assisted with loans for start-ups.

Mr. Erasmus Mensah-Ackon alluded to the many opportunities in the Technology space, which could also be used to turn the fortunes of the Ghanaian youths around.

Mr. Michael Asante Saforo, the Centre Manager for Duapa Werkspace, noted how the company was producing innovation in fashion, IT and other fields to bridge the unemployment Gap.

Reverend Professor John Frank Eshun, The Vice Chancellor of the University, noted how the University was poised to become the centre of excellence and innovative to solve societal problems and therefore appreciated such academia and industry partnership to inure to the benefits of the Ghanaian economy.

"We need to grow the next generation of entrepreneurs to halt youth unemployment...we appreciate such assistance to build the capacity of our students to take the lead in this economic renewal and become a model University for the country".

The incubation centre would be hosted by the centre for Languages and Liberal Studies of the University.