MSR has launched an accelerator for software programmers with special focus on mobile and Internet applications. The accelerator which is called AHOY (Advancing & Harnessing Opportunities for the Youth) is targeted at young graduates between the ages of 23 and 30years who demonstrate both technical knowledge and skills in mobile and web applications and entrepreneurial ability.
According to Mr. Isaac Gwumah, Executive Director of MSR, applications will be accepted from teams that comprise a minimum of three specialists, preferably the software programmer or designer, a graphic designer and a business development officer or analyst. “From my experience with start-ups in the technology sector the key areas of focus are on rigorous product design, attractive product packaging or graphic designing and a robust business model. The three make up the key for successful market entry, growth and penetration and we want to see applicants to the accelerator demonstrate that they have this in their team,” Mr Gwumah indicated.
MSR will provide the selected teams with office space, office equipment, market research and other business support services such as marketing and financial analyses, fund-raising and training. Total equity contribution from MSR will typically range between 20% and 40% and ‘incubation period’ would be three months. On completion of the accelerator programme MSR will hold a ‘demo-day’ where teams will be able to outdoor their products and services to venture capital funds, angel investors and the general public.
The accelerator programme officially begins in July 2013.