TechnoServe and Believe Begin Become Supporting Companies, Joined by Google.org Awarded Entrepreneurs from the National Business Plan Competition over $420,000 in Awards

ACCRA, GHANA, SEPTEMBER 21, 2006 —TechnoServe, Google.org and local award co-sponsors celebrated the ten Believe Begin Become 2006 winners at La Palm Royal Hotel on Thursday evening. The event drew over 350 people who endorse the entrepreneurship development programme as an important catalyst to better access to financing, SME growth, and economic advancement in Ghana.

Since graduating from the core programme in early August, 20 Believe Begin Become finalists had been working diligently to improve their plans and prepare for the final test. On August 25th they submitted their refined business plans and by the 31st they had all defended their plans to the panel of judges. These 20 finalists had completed a rigorous training programme that included more than 75 hours of course work, industry conferences and time with a professional one-on-one consultant in order to compete for the seed capital and technical assistance awards.

On Thursday night at La Palm the 2006 finalists enjoyed the fruits of their labor as they networked with the high-power crowd present. The ten winners each received $15,000 in seed capital, $10,000 in business development services, $3,800 of additional services from business listing companies, and Stanbic financial advisory services — a package worth more than $30,000 per winner.

However, TechnoServe is interested in supporting more than just ten of the Believe Begin Become entrepreneurs as they refine their concepts and move forward with their businesses. That is why all 20 of the finalists won access to the Aftercare Programme, an innovative technical assistance programme tailored specifically to the entrepreneurs' needs and aimed at bringing Ghana's BDS sector together. Each entrepreneur who made it to the finals and finished the programme won at least $10,000 in business service awards plus $220 in business listings. Five of these 10 finalists also won $5,000 in seed capital from The Support Programme for Enterprise Development and Empowerment (SPEED).

Believe Begin Become launched in Ghana in March of this year as the first of a multi-country roll-out across Africa. In its first year the programme achieved national scope, as applicants came from all ten regions of Ghana. In fact, seven of Ghana's regions were represented among the top 20 finalists, and almost one third of this elite group was female.

In addition to being a country-wide programme, Believe Begin Become 2006 has also been a financial success. Having raised just over $400,000 in products, services and cash from 70 local supporting companies, the TechnoServe initiative has leveraged the original $500,000 grant from the Google Foundation by 81 percent. Local award co-sponsors Stanbic Bank, INPRODEC, Businessghana.com, Yellow Pages Directories and SPEED Ghana contributed cash and services for the entrepreneurs that collectively increased the Google Foundation award funds, half of the original grant, by 74 percent.

"The support that Ghana's private sector has shown for this programme confirms our belief that Ghana is ready to bring promising entrepreneurs into the formal economy and sees their contribution as important to this country's economic growth," said Nick Railston-Brown, TechnoServe Country Director. "Increasing this support in future years will soon allow Believe Begin Become to be a self-sustaining programme, funded by Ghana, for Ghana's growth."

The networking cocktail event that followed this year's Believe Begin Become Awards Ceremony was a good indication of the fact that this programme has sent a spark through the private sector in Ghana, and beyond. From financial institutions to local businesses, to service providers and educators, Ghana's business community was present. In addition, the presence and support of representatives of Google.org, including Executive Director Dr. Larry Brilliant, members of the regional Stanbic Bank of Africa team, and several international economic development agencies signaled the broader momentum this initiative has gained. "These achievements highlight the true potential for programs like this one to enable pathways of success for entrepreneurs and SMEs across Africa," said Dr. Brilliant.

About TechnoServe: TechnoServe helps entrepreneurial men and women in the developing world to build businesses that provide jobs, income and economic opportunity. Since its founding in 1968, the U.S.-based nonprofit has helped to create or improve more than 2,000 businesses, benefiting millions of people in 32 countries.

For more information, please contact:
Shika Acolatse, BPC Coordinator, TechnoServe/Ghana Tel: + 233-21-763675 or 773873/5; Email: shika.acolatse@tnsgh.org

Katherine Pasternak, Operations Manager, TechnoServe/Ghana Tel: + 233-21-763675; Email: katherine.pasternak@tnsgh.org

Nick Railston-Brown, Country Director, TechnoServe/Ghana Tel: +233 21 773873/5; Email: nickrb@tnsgh.org