In August 2024, the fifth cohort of the Ashesi Venture Incubator (AVI) completed their year-long program, designed to sharpen business acumen, expand networks, and cultivate innovation and resilience for sustained success in Africa’s rapidly evolving entrepreneurial landscape. Over the course of the program, 20 alumni-led ventures engaged with a stage-appropriate curriculum, hands-on coaching, and built key connections across the broader ecosystem.

Cohort 5 included ventures across industries such as auto technology, interior design, tourism, agriculture, fashion, and healthcare. Notably, 12 were led by women entrepreneurs, underscoring AVI’s commitment to inclusivity. With tailored support, the ventures made significant strides in scaling their operations.

Key Milestones from Cohort 5

• Revenue Growth: The cohort generated GHS 2.15 million, demonstrating AVI’s impact in driving business growth.
• Funding: The Ashesi Center for Entrepreneurship (ACE) provided over $100,000 in funding for prototype development, software licenses, business support services, and stipends.
• Job Creation & Partnerships: The ventures created 20 new jobs and formed 10 strategic partnerships, enhancing operational capacity and revenue potential.

Entrepreneur Spotlights

• Avond Interiors: Originally a traditional interior design service, Avond Interiors is evolving into an AI-driven platform that helps clients visualize spaces with décor from multiple suppliers. With AVI’s support, revenue grew from GHS 20,000 to nearly GHS 1 million.
• Fita AutoTech: A marketplace connecting vehicle owners with certified service partners, repair financing, and vehicle management tools, Fita AutoTech’s monthly revenue surged from GHS 10,000 to GHS 50,000, with total revenue surpassing GHS 500,000.
• Fruits on Wheels: Through improved operations and financial management, this fresh produce delivery venture increased weekly revenue from GHS 3,000 to GHS 20,000, totaling nearly GHS 200,000 in earnings.
• Fuzar House: Initially a CRM platform, Fuzar House pivoted to a loyalty membership service aimed at enhancing hospitality experiences, generating nearly GHS 300,000 in just four months.

Personalized Coaching and Support:
The cohort’s progress was guided by four dedicated coaches—Hannah Quashie, Samuel Darko, Bubune Sorkpor, and Richard Brandt—who brought expertise in financial advisory, investment banking, business development, and technology. Their deep industry knowledge helped entrepreneurs navigate unique business challenges. Meet AVI’s coaching team.

Looking Ahead: AVI’s Next Chapter
Cohort 6 of the Ashesi Venture Incubator is set to begin in November 2024, with 20 new alumni-led ventures ready to embark on their entrepreneurial journeys. As AVI evolves, it remains committed to offering a supportive, hands-on environment where Ashesi entrepreneurs can transform innovative ideas into sustainable businesses.

Looking Ahead: AVI’s Next Chapter
Cohort 6 of the Ashesi Venture Incubator is set to begin in November 2024, with 20 new alumni-led ventures ready to embark on their entrepreneurial journeys. As AVI evolves, it remains committed to offering a supportive, hands-on environment where Ashesi entrepreneurs can transform innovative ideas into sustainable businesses.