The Role of Intellectual Property in Ghana’s Growing Startup Ecosystem: How IP Protection Fosters Innovation and Entrepreneurship

Ogochukwu C. Nweke, Clement Kadogbe

Regent University College of Science and Technology (Ghana), Kings University College (Ghana)

Modern economic policies are centered on encouraging innovation and entrepreneurship as primary forces for economic growth and progress. Intellectual property (IP) has become the bait by which policymakers seek to foster an atmosphere that encourages creativity and innovation through a proper balance between innovators' interests and the general public interest. This study therefore aims to find out how IP protection encourages innovation and entrepreneurship innovation and entrepreneurship within Ghana's emerging startup ecosystem. The study employed the exploratory research design and the qualitative approach. Purposive sampling technique was used to select a suitable participant from whom data were gathered with the aid of a semi-structured interview guide. The thematic analysis was used to analyze the data. The findings revealed that IP protection fosters innovation and entrepreneurship by enhancing innovation and creative risk taking, investor confidence, brand identity and recognition, and partnerships and expansion. The findings enrich our knowledge of Sub-Saharan African innovation ecosystems and encourage institutional and policy reform to make IP more accessible and efficient. Based on the findings, the study recommends stronger advocacy of public IP literacy, simplification of registration procedures, imposition of stringent control measures, integration of IP into startup capacity-building programs, and availability of affordable legal services.

Article link: https://www.asianinstituteofresearch.org/lhqrarchives/the-role-of-intellectual-property-in-ghana’s-growing-startup-ecosystem%3A-how-ip-protection-fosters-innovation-and-entrepreneurship