On Monday, February 10, 2025, young innovators participating in the Youth Innovation Circles (YIC) 2025 program took part in an intensive session on Business Model Refinement at Duapa Werkspace.
The session was facilitated by Erasmus Mensah-Akon, Founder and CEO of Duapa Werkspace, who provided participants with in-depth knowledge on key strategic tools for business development.
The session covered SWOT Analysis, helping participants identify their businesses’ strengths, weaknesses, opportunities, and threats. They were also introduced to Porter’s Five Forces, a framework that enabled them to analyse industry competition and market positioning. Additionally, the PESTEL Analysis was explored to help young entrepreneurs understand external factors such as political, economic, social, and technological influences that impact business sustainability.
Participants engaged in discussions on how these frameworks apply to their respective businesses, with a focus on refining their models to enhance competitiveness and long-term success.
The YIC program is an initiative led by HapaSpace Collaborative Hub, with funding and support from the Mastercard Foundation and the United Nations Development Programme (UNDP). It continues to equip young entrepreneurs with the tools, strategies, and mentorship needed to drive innovation and build sustainable businesses.
