It will be recalled that in October last year the then Ministry for Business Development set up a technical working committee to come out with the Ghana Startup bill.
The committee made up of the private and public sector was embodied with the mandate to consult stakeholders and startup ecosystem players to draft an all inclusive startup bill.
Speaking at a committee meeting held today at PEF conference room in GIMPA, the coordinator for the project Mr. Sherif Ghali indicated that the committee did engage stakeholders last year to draft the act and that they are now finalizing the process.
“Currently we have the 3rd draft of the act which has gone through lots of stakeholder engagements. We are now working to finalize it and to do our last engagements with the startups and other relevant stakeholders before we present it to the sector minister ” he indicated
The Ghana startup bill when passed will set up an incentive framework for the creation and development of Startups in Ghana to promote creativity, innovation, and the use of new technologies in achieving a strong added value and competitiveness at the national, regional, and district levels.
The Act also seeks to provide legal backing for the introduction and promotion of Startups for jobs and wealth creation.
It is expected that by end of February 2021, the committee would have finished its work and then submit the draft bill to the Ministry of Trade and Industry, Attorney General, Parliament, and the Office of the President.
The committee is made of the private, public sector, and civil society. The Private sector is represented by the Private Enterprise Federations(PEF), Ghana Chamber of Young Entrepreneurs (GCYE), Ghana Hubs network, and the Ghana Startup Network.
The Government is represented by the National Entrepreneurs and Innovation programmed (NEIP) and Civil Society by I4policy.
GIZ Make IT is providing funding support.
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Source: Ghana Web