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In attendance at the virtual graduation ceremony were mentors, investors, business leaders and previous graduates from around the globe to join in celebrating the latest cohort of exciting startups to complete the FI program.
As well as hearing the experience from each graduate and being treated to the pitches of a selection of the cohort, our audience was also treated to the wise words of the illustrious Ghanaian business icon, Kofi Dadzie, who spoke to the importance of using their talent, training, cunning, foresight, leadership and experience to ensure they position themselves to be in the right place, at the right time – to be where the ball will fall. And it’s certainly clear that by graduating from the initial FI program, the latest class of graduates are well on their way to following Kofi’s advice.
Managing Director of FI Ghana, Simon R Turner, comments
“Without doubt, the program is one of the best filters to determine who is serious, and possesses the grit, determination, resilience, and work ethic that all entrepreneurs must demonstrate, as Kofi Dadzie discussed in his keynote. The program is not for the faint-hearted, but what can be achieved in 16 weeks can ultimately save years of time, and costly mistakes sending good money down the drain, needlessly”.
- Spiika: an EdTech company that helps Africans get to conversational fluency in new languages. (Tema, Ghana)
- Fantasy Gold: Organizes fantasy sports contests where players enter weekly fantasy sports games for a fee, and high performers get rewarded with prizes. (Accra, Ghana)
- Smart Farmer: allows consumers to join food & commodity production by financing African farming for profit sharing and a digital farming experience. (Kumasi, Ghana)
- Duapa Werkspace: creates an enabling environment for young entrepreneurs to connect, collaborate and transform their ideas into viable businesses. (Takoradi, Ghana)
- Ólage: a logistics support marketplace providing credit finance for the purchase of trucks by drivers, then matching businesses and shippers to the trucks to meet demand for haulage and logistics support. (Lekki, Nigeria)
- Wunpini Sanitech Engineers: reducing open defecation by giving customers a chance to own an improved toilet through cash or payment plan. (Tamale, Ghana)
- Rheyod Global: via the platform "Preneurship.I" companies can find talent in-house and also see real ROI for their engagement programs by building it around the challenges they are looking to resolve. (Accra, Ghana)
Graduating from the Founder Institute core program is no small achievement. Without doubt one of the toughest accelerators available for startups on the global market, entrepreneurs are taken through over 16 weeks of rigorous training, spending on average 20 hours per week on the part-time program, often while juggling full-time work commitments, family, study, health challenges and more. It's no surprise that throughout the global network – which features programs in over 90 countries and 200+ cities – only one-third to one-quarter of those who start will reach the finish line. The latest Ghana class mirrors these figures, with 432 having applied, 31 Founders (in six countries) being selected to start the cohort, and seven graduating. Nurturing them through the program were over 70 Mentors on five continents, as well as the FI Ghana team.
The graduates now move to the next stage of their entrepreneurship journey, and some of them will be selected to one of the free global follow-on accelerators run by FI HQ in Silicon Valley to increase their investment readiness. Hopefully, as has been the case for previous graduates, they will go on to receive pre-seed funding from angel investors and VC funds, including the several hundred globally that only invest in FI graduates, many of which have been created by FI's VC Lab.
Join the Next FI Ghana Cohort
For Founders looking to join the next FI Ghana program, in either our launch or growth track, the FI Ghana ‘Fall 22 program commences on 31 Aug 2022.
Apply for the Fall ‘22 virtual program: fi.co/ghana
About Founder Institute
The Founder Institute Ghana virtual accelerator program is open to all aspiring and early-stage entrepreneurs in Ghana and around the world looking to build solutions for Ghana and Africa’s future. Founders will have the opportunity to:
? Get constant training, support, feedback and regular office hours with 50+ Mentors, investors, and experts in Ghana and globally.
? Make quick progress on their business using a proven, structured process to get to traction and funding that has helped alumni build great products and raise over $1bn in funding.
? Get fast-tracked to a suite of post-programs, including Founder Lab, to continue getting expert support for years to come.
? Expand their support network to include startup founders, CEOs, and investors from the Founder Institute’s global network of 5000+ alumni and 18,000+ mentors across 220+ cities.
