The inaugural Africa Research Innovation Commercialization Summit 2024 took place on February 28, 2024 under the theme: "From Labs to Markets: Creating Viable and Inclusive Value Chains and Innovation Markets for Sustainable Socio-Economic Development". Hosted by Heritors Labs, this summit set the stage for insightful discussions and collaborations.
During this event, WIDU Africa was represented by James Arthur-Amoah, Coach Coordinator for Thinking Minds Ghana, who participated in a panel discussion focused on "More Money Solves Problems: Unlocking Funding and Investments to Advance the Research and Innovation Economy in Africa."
The panel emphasized the critical role of funding in the enterprise support ecosystem. Various funding options available to businesses and researchers were highlighted. James showcased WIDU Africa as an innovative solution that leverages private funds, such as remittances and grants, to foster growth across Africa.
Addressing the challenge of ensuring businesses maximize the impact of funds received, James highlighted WIDU Africa's approach, which includes rigorous due diligence and tailored enterprise support through coaching, mentoring, and audits. This comprehensive support system ensures that funds are utilized effectively and that businesses achieve their desired outcomes.
Regarding sustainability, James emphasized WIDU Africa's commitment to supporting businesses for long-term success. Through its initiatives, many one-man businesses have grown into sustainable micro-enterprises. The panel concluded that while increasing funding is crucial, it is equally important to implement measures to ensure that funds are utilized efficiently for maximum impact. The summit provided a platform for fruitful and engaging discussions on advancing the research and innovation ecosystem in Africa, with WIDU Africa playing a significant role in driving sustainable socio-economic development.