Kosmos Innovation Center Wins 2018 P3 Impact AwardWe’re thrilled to announce the Kosmos Innovation Center (KIC), a public-private partnership between MEST, DAI Global, and Kosmos Energy, has been chosen to receive the P3 Impact Award at this year’s Concordia Summit!
For the past five years, the annual P3 Impact Awards have recognized leading cross-sector collaborations that feature public, private, nonprofit, or non-governmental organizations addressing societal challenges. Given during the Concordia Summit, the award was created by Concordia, the University of Virginia Darden School Institute for Business in Society, and the US Department of State’s Office of Global Partnerships. KIC was chosen as this year’s award recipient.
Finalists of the 2013 P3 Impact Award received tickets to attend and participate in programming of the Concordia Annual Summit, as well as promotion and recognition, a feature in the Darden School Ideas to Action website, and the opportunity to participate in Global Partnerships Week. KIC will also receive scholarship to attend a week-long executive education course at the University of Virginia Darden School of Business and the opportunity to be the subject of a case study published by Darden Business Publishing.
Every year, KIC provides an annual cohort of around 100 Ghanaian youths with business training, mentorship, and market research tours as part of the KIC AgriTech Challenge. During the program, participants work to develop technology-based business concepts to solve challenges faced in agriculture in Ghana. The program ends with a final pitch, where winners not only receive seed funding, but also enter the MEST Incubator Accra, receiving hands-on support and access to resources for a year-long incubation period.
When asked what winning the award means for KIC, Joe Mensah, VP & Country Manager for Kosmos, stated,
Winning the P3 Impact Award is a moment of truth for us; that we have charted the right course in becoming a partner in energizing Ghana, beyond oil and gas. It is our vision to create an ecosystem of youth-led businesses providing solutions to key developmental challenges, while at the same time creating employment. The Kosmos Innovation Center is the right development tool for us to invest in and inspire Ghanaian youth to be part of national transformation.
Now in its third year, KIC has funded six AgriTech companies and soon will be welcoming the next cohort. Previous winners of the KIC AgriTech Challenge include TroTro Tractor, a team working to put an end to Ghana’s tractor deficit through connecting tractor owners and farmers, and Complete Farmer, a company that allows you to invest in farms. Other winners include AgroInnova, AniTrack, Ghalani, and QualiTrace.
CoFounder of AniTrack and MEST alumna Winnie Akoko believes that KIC had a big impact on her and her team, not only through the funding provided, but the training. She said, “Through KIC, our team was able to conduct intensive market research that helped us understand the key pain points of our target customers. It offers a great support system that extends beyond market research, as well. We get mentorship and linkages to expertise in the agriculture field whenever we ask.”
Through each of these AgriTech companies, KIC is working to develop the agricultural value chain of Ghana to provide economic growth. MEST Ghana Director Ashwin Ravichandran explained, “The long term goal of KIC is to make sure the economy of Ghana is growing by creating jobs and employee wealth. The impact of KIC is is currently felt in the agricultural value chain, which is making Ghana’s economy more preferrable.”
Interested in learning more about the companies that have won the KIC AgriTech Challenge? Check out this article on AgroInnova!
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