ETK Group Limited has announced the launch of Africa’s Next Global Innovation Challenge – ANGIC – an initiative that seeks to identify and bolster sustainable enterprise development and link African innovations and solutions with global challenges.
Focusing on growth-stage ventures with existing products that are solving specific problems in Nigeria, Ghana, Kenya, South Africa, Morocco, or Rwanda, ANGIC will bridge the gap between African ingenuity and pressing global challenges. Through a curated blend of capacity support and access to markets, the innovation challenge will identify and empower growth-stage businesses to scale existing solutions, drive sustainable enterprise development, and make a profound global impact.
African innovators and businesses hold significant potential to address the challenges faced by Africa. However, they often lack access to investors, essential support, funding, and face capacity constraints. A significant number of small businesses on the continent struggle due to operational limitations and gaps in critical areas of capacity necessary for growth.
In collaboration with The Nest Innovation Park, ETK will implement Africa’s Next Global Innovation Challenge to address these challenges in a bid to give exemplary innovations and businesses from Africa a chance to expand their reach into global markets.
To participate, qualified businesses can enter the challenge by visiting www.angic.etkgroup.co.uk from May 27 – June 28, 2024.
“Our mission with ANGIC is to contribute to the export of innovative solutions and products from Africa to other markets in the UK, US, Europe, Brazil, or other markets around the world. With this challenge, we want to prioritize innovations that are focused on improving sustainability and the socio-economic status of Africans. At the end of this inaugural edition of ANGIC, our aim is to facilitate the successful export of at least four innovative solutions and products from Africa to global markets,” says Bolaji Sofoluwe, Managing Director at ETK Group.
Africa’s Next Global Innovation Challenge will provide selected businesses with opportunities to scale their solution with expert support in research and development, training, and capacity development, access to global markets, access to ETK Group’s network of international partners and industry experts for guidance, as well as the opportunity to accelerate the growth of their businesses with mentorship from ETK and other industry experts around the world.
“These exports are expected to generate a minimum of $100 million in revenue, directly contributing to the socio-economic advancement of African communities. We will ensure that each exported innovation aligns with the mission of improving the socio-economic status of Africans.” Added Bolaji.
About ETK Group
Founded in 2010, ETK is a UK-based Africa-focused trade and advisory consultancy with a presence in 34 African markets. Our vision is to contribute to the growth of African businesses through advisory work and by facilitating access to export markets for businesses of various sizes across the continent. ETK has facilitated market entry and provided market support services to over 200 clients across Africa, the UK, and in other markets. ETK contributes to the growth of African businesses and markets by helping enterprises to expand into other markets and connecting international businesses from other markets with trade and investment opportunities on the continent. ETK provides support to SMEs across diverse sectors with capacity development, sustainability consulting, strategy, planning, and project management and implementation to facilitate growth.