The Chairman and Chief Executive Officer of the McDan Group, Dr. Daniel McKorley says supporting young entrepreneurs to grow their businesses and create jobs in order to boost the country’s economy has always been his passion.
Dr. McKorley went into action in 2018 after emerging winner of the covetous Chartered Institute of Marketing Ghana (CIMG) Man of Year, by coming up with the idea of the Equity Fund to support start-ups and young entrepreneurs.
This subsequently led to the creation of the McDan Entrepreneurship Challenge (MEC) which brings together young entrepreneurs in a highly competitive environment to sell their business models for financial support from the Business Magnate who also doubles as a philanthropist.
‘’One of the things McDan is doing is to give the youth a some kind of hope. It is to give the youth some kind of direction and with the Equity Fund, it is not really about the money, but we need to support the youth in our own small way. The fund will revolve and help others and we are not doing this for profit. We are doing this to build businesses’’ Dr. McKorley averred.
Since 2018, Dr. McKorley has always injected a whopping $ 100, 000 into the MEC to support start-ups and young businesses whose business models turn out to viable.
That amount only represents the prize money for the winners.
Other expenses including training, mentoring, accommodation for contenders and feeding among others are also borne by the Business Mogul.
A fortnight ago, Dr. McKorley announced the 20 finalists for this year’s MEC and all 20 have since undergone an intensive incubation to aid them fine-tune their respective business models for the financial support.
‘’The impact McDan is looking out for as I said before , the brand is bigger than me. I will always admonish them to step out there with integrity. You cannot do anything or succeed without integrity’’ he opined further.
Some of the young entrepreneurs who took part in the MEC challenge were full of praise for Dr. McKorley for the initiative and the support.
‘’Being part of the final list and the incubation is life transforming because you get to learn a lot. You get to translate and transform everything about your business, particularly the sales. I was doing direct deliveries, but after participating in this challenge, I have realized that I can go into community activation to sell my brand’’ one of them said.
Another one said ‘’Having come this far and being a part of the selected ones, that alone, I feel proud of that. And that is not to make me complacent, but to encourage me to work harder to push my business to the next level. I believe I belong to the next top million dollar businesses’’
Yet another grateful contestant opined that ‘’To be in the MEC has really boosted my confidence as a female entrepreneur. I have learned some values in the process of the McDan Challenge. I have learned the value of integrity and the value of time management and this has helped me to strategically position my business in a way that I can attract investors into the business’’