The project aims to strengthen synergies between research and industry to open innovation funding pathways that will improve integration and coordination, as well as to support the demand for funding by supporting business support organizations (ESO).

During the four-month implementation period, Impact Investing Ghana (IIGh) will address three critical gaps revealed in its research: (a) unlocking funding for innovation ventures with insufficient access to patient capital , (b) better coordination and collaboration between ESOs to support a pipeline of innovative companies and c) the creation of platforms for research-industry collaborations to ensure that research continues to drive the collaborative action.

Strengthening links between research and industry is essential for innovation, commercialization and dissemination of research results. Although Ghana has research capacity in universities, research institutes and companies, there is little interaction between researchers and industry. This leads to missed opportunities to scale up innovation or link innovations to research. Government policies on Science, Technology and Innovation as well as Intellectual Property are committed to strengthening these areas, which unfortunately still have significant gaps.

IIGh Ghana’s Managing Director, Amma Lartey, said: “Regulatory challenges, lack of innovative financing vehicles and involvement of institutional investors such as pension funds need to be addressed if the investment of impact must develop in the region”.

She noted that the initiative was urgent and relevant, particularly to support efforts that stimulate collaboration between industry and research for poverty reduction, job creation, inclusive growth and deficit reduction. $5 billion in funding for innovation companies.

She said the IIGh is dedicated to catalyzing impact investing for Ghana and the project would be key in promoting a healthy ecosystem.

The project will support three action groups, including a fund-of-funds action group, ESO Collaborative and a Research – Industry Collaborative to design an impact strategy, build a platform to share and evaluate ESO programs and help improve the quality of ESO programs, build a knowledge sharing platform for research and industry. It will support a sharing platform that connects impact businesses with impact funds and angel investors, building on successful trading rooms operated by the IIGH.

Funded by the UK’s Foreign, Commonwealth & Development Office (FCDO), RISA aims to strengthen research and innovation ecosystems in Africa. It is implemented in Ghana, Kenya, South Africa, Nigeria and Ethiopia, with the aim of strengthening national research and innovation systems. This contributes to economic growth and development.

Impact Investing Ghana is a private sector-led initiative that is building a thriving ecosystem for impact investing in Ghana. The organization represents the country on the Global Steering Group for Impact Investing, the successor to the Social Impact Investing Working Group created by the G8.