Closing date for submitting The Vice-Chancellor's Business Innovation Award proposals extended to Thursday 30th September.

Background

The UDS Business Innovation and Incubation Centre (UDS-BIIC) seeks to develop the business acumen of students, alongside academic training, to enable them take advantage of business opportunities available to them under the supportive environment provided by the University for Development Studies (UDS). The Vice-Chancellor’s Business Innovation Award Scheme (VCBIAS) is part of efforts by the UDS-BIIC to identify and support potential entrepreneurs among students of the UDS. The VCBIAS was specifically instituted to nurture potential business leaders among students of the UDS. It emphasizes the need to give students an early start to participate in opportunities provided by domestic and global markets.  Its objectives are to:

• identify viable business ideas among students
• provide technical support to enable students realize their business ideas
• facilitate access to funding to implement their ideas

The maiden edition took place in November 2020 under the theme: “The Use of Standards and Packaging in Marketing”.  Thirty-four applicants were shortlisted to 21 who participated in the first pitch out of which 12 were selected for a second round of pitching. Among the 12 participants who qualified for the second round of pitching 8 qualified for the final pitch. Three business ideas emerged the winners. Since then, the winners have been enrolled in the Incubation Programme of the UDS-BIIC and are at various stages of transforming their ideas into business ventures.

The second edition of the award is planned for 21st October 2021 under the theme: “The Use of Standards and Packaging in Marketing II”. The background to this theme is the observation that a lot of locally produced commodities and services do not find their way to the shelves because they do not meet domestic and international standards and hence are not certified. Standards such as weights, measures, quality, handling among others are in view. Certification will boost the patronage of local products on the domestic and export markets. Therefore, improving on production and processing to allow for certification will result in increased access to both domestic and external markets.

Packaging, on the other hand, includes both commodities and services in order to make them more attractive and accessible to consumers. Inappropriate packaging has reduced the shelve-life and attractiveness of locally produced commodities and has brought about environmental pollution in unprecedent proportions lately, the management of which has become a major challenge. Finding alternate packaging materials and providing appropriate and attractive packaging will create good market and opportunities.

Poor packaging and delivery of services has limited the accessibility of critical services to consumers. Currently, related services are delivered separately while ensuring that such services are delivered together (holistic service) will result in a seamless, cost-effective and easier access by consumers.

The award will therefore, consider entries under the following sub-themes irrespective of the product or service:

• Standards
  • Quality
  • Certification
  • Weights and measures
• Packaging of commodities
  • Labelling
  • Branding
  • Materials (Environmentally friendly materials, preservation, etc.)
  • Design
• Packaging of services
  • Services in all sectors/disciplines making them more accessible to consumers e.g., health, educational, agriculture, ICT

Benefits

Awardees will have the benefit of:

• Business incubation services from the UDS-BIIC
• Access to experienced mentors
• Workspace with internet access
• Additional support from experts in the UDS
• Cash award of between GHȼ 15,000.00 and GHȼ 20,000.00 (this is not meant to cover all budget cost)
• Facilitate access to finance

Who should apply?

• Students (individuals or groups) currently enrolled in any programme of study in the UDS
• Students with demonstrable innovative business ideas in relation to the use of standards and packaging in marketing

Mode of application

An applicant must submit a concept note of not more than 3 pages, with font size 12pt, Times New Roman, 1.5 spacing, clearly highlighting the following:

• The business idea
• The problem the business idea seeks to solve
• Innovativeness of the business idea
• Market potential
• Potential for growth and sustainability
• Job creation opportunities

All applications must be submitted electronically through biic@uds.edu.gh not later than 17th September, 2021. Any application which does not adhere to the instructions will not be considered.

Selection

The selection process shall be conducted in four phases:

• Shortlisted applicants shall be notified by 30th September, 2021
• First pitching for shortlisted contestants will be on 8th October, 2021
• Second pitching for selected first-round contestants will be on 20th October, 2021
• Final pitching for successful second-round contestants will be on 28th October, 2021

For further information please contact the BIIC office on 0372099676 or 0244601064 or by e-mail: biic@uds.edu.gh.

Closing date for receiving applications: 30th September 2021