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Official Press Release on the Launch of The Groth Innovation Centre Limited (Groth HQ)

The Groth Innovation Centre: A Journey of Impact

An Address by Owen Shedrack, founder and Executive Director.

Dear partners, stakeholders, prospects, members of the press, ladies and gentlemen.

On behalf of all the board members and the executive arm at Groth HQ, I wish to officially announce that The Groth Innovation Centre Limited is open for full operations, and thereby notifying the general public that myself, Owen Shedrack will sit as Executive Director, with Praise Sunday and Obriku Perry as Chief Technology Officer (CTO) and Chief Operating Officer (COO) respectively.

The Groth Innovation Centre (also known as Groth HQ) is a limited liability company in Port Harcourt, Rivers State of Nigeria with registration number “RC:1620398.” Groth will operates as a business incubator, enterprise resource and support center, and innovation hub providing affordable professional business services and technology-driven products and services geared towards helping businesses grow according to their peculiarities, needs and stage with core focus on the Niger Delta landscape.

Groth’s focus is to increase the successful development of emerging businesses in target industry sectors. These new businesses will in turn create new jobs, increase tax generation, and create wealth, which ultimately causes a chain reaction of community benefits through the multiplier effect.

Thus, the mission statement for The Groth Innovation Centre is: “To facilitate and catalyze innovation, entrepreneurial development, and business success that fosters sustainable economic growth in Nigeria by providing business support, network and steer partnership for accelerated growth.”

They are a lot of incubators outside Nigeria; a host of them outside our region, with very few in our region, so we are existing to join forces with the few we have here especially as our common goal is to help businesses thrive with a focus on our region.

The impact of business incubators all over the world cannot be over emphasized. “It’s lonely at the top” is a common expression among business leaders, but rings especially true in the life of an emerging entrepreneur.

Not only do startup business owners act as sole risk-takers and shareholders, but they also simultaneously assume the roles of CEO, managers, accountants, marketers, custodians, and everything in between. This can be an exhilarating, yet intimidating and lonely, experience.  

According to the “Small Business Administration,” only about half of all businesses survive five years or longer. For this reason, the public and private sectors have increasingly recognized the importance of supporting startup businesses in these critical early years of growth.

One of such business support mechanism that has gained popularity as an economic development tool is business incubation. This is why we’re taking responsibility to act as a growth catalyst for our regional economy in collaboration with existing ecosystems.

Hence, the objectives of The Groth Innovation Centre are to:
1) advance the region’s goal of increasing middle-wage jobs through economic growth;

2) help advance the Federal Government’s objective of promoting small business growth and workforce development across Nigeria, and,

3) help companies get established and rooted in the region—so that after graduation—they become permanent contributors to the overall vitality, diversity, and growth of the nation’s economy. 

Groth will offer services in the area of business incubation, technology research and development, marketing and PR management, training and talent development, market research and development, technology commercialization, business development, among other impact based activities or projects. And also we would be scouting to identify high growth potential startups for investments across selected sectors.

We are using this opportunity to call for potential partnerships, investors, leaders across ecosystems, agencies, and institutions with a common interest to join the Centre’s vision of impacting our region.

Groth operates temporally from Aluu town, Rivers State with official address as Block B, City of David, Aluu – Omoukiri, Rivers.

The official website for The Groth Innovation Centre Limited is www.grothhq.co with online presence across social media channels as “Groth HQ”. See our contact page to direct memos and enquires.

Signed
Obriku Perry
Secretary, Board of Directors
The Groth Innovation Centre (Ltd)
Monday, Jan 6, 2020

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