The Africa Innovation Foundation has urged Ghanaian innovators to take advantage of the Innovation Prize for Africa initiative to secure a US$150,000 grant to expand their businesses.

The Innovation Prize for Africa is a competitive award initiative that provides US$150,000 to the best innovators on the continent who deliver market-oriented solutions for African-led development.

The Director of the Africa Innovation Foundation, Pauline Mujawamariya who was in the country last week told the B&FT in an interview that the Foundation is worried more Ghanaian innovators are not applying to win the prize money to develop their enterprises.

“I am here in Ghana because I believe in the Ghanaian innovators and there are quite a lot of them that I have read about. My worry is that up till now, we have received only one application from Ghana.

“The competition has been opened since the beginning of August so I am concerned and decided to come here to find innovators and understand why they are not applying for the best prize that you can find on the continent.

“We also support the top 10 finalist to get into the market. So it is really good and we want Ghanaians to be part of this pan-African initiative,” she said.

The Innovation Prize for Africa this year is the fourth edition to be organized with Nigerians, South-Africans, Kenyan’s and other East and Southern Africa countries dominating the competition.

Among the thematic areas that the competition focuses on for technological breakthrough include manufacturing and service industry, health and well-being, agriculture and agribusiness, environment, energy and water and ICTs.

Mrs. Mujawamariya explained that the innovations that stand the best chance of winning the prize money are the ones that address the growing challenges on the continent.

“We are looking for innovations that are addressing the very challenges of Africans. That’s all!” she added.

Last year, the Africa Innovation Foundation received about 20 applications from Ghana with one almost selected for the top 10 projects.

According to organizers of the Innovation Prize for Africa, the minimal interest of Ghanaians in the awards is a peculiar case.

A former Minister of Communication and a panel judge for the Innovation Prize for Africa, Dr. Benjamin Aggrey Ntim added: “It is a peculiar case. About 46 countries in Africa have sent a number of projects’ for the prize. For Ghana only one has been received and that is astonishing. If you are going to compete among 46 other countries, surely we need more than one project. Otherwise, we will be knockout so we need about 30 or 40 entries. With the number of the thematic areas, don’t we have innovations in all these areas?”

Interestingly, a number of local entrepreneurs and innovators are disturbed by inability to secure funding facilities and grants to expand their business.

Mrs. Mujawamariya, however, the organizers is confident more local innovators will take advantage of the award scheme and apply before deadline for the receipt of applications closes by the end of this month.

“I am hoping that a lot of Ghanaians will be applying soon because this is a chance to get a good amount of money that can transform a business. There is also a chance to exposure on the international stage,” she added.