Bhutan’s DHI Business Acceleration Programme Partners With the University of Texas’s IC2 Institute To Draw On Their Expertise
The press release states that DHI has hired the services of IC2 Institute under the University of Texas, USA as a partner for the programme.
By Staff Reporter | Kuensel
The DHI Business Acceleration Programme, DHI BizAP was initiated on October 13. The Chief advisor of the interim government, Chief Justice Tshering Wangchuk inaugurated the opening at the start-up center in Changzamtog, Thimphu. DHI Chairman Dasho Ugen Chewang and DHI Chief Executive Officer, Dasho Karma Y. Raydi also attended the opening.
The entrepreneurship programme covers training and skill development which will sharpen the entrepreneurs’ value proposition, define target market, get feedback on product/technology and determine effective business models for an enterprise. The first cohort of the training programme which began on October 13 will finish on February 14, 2019.
Support given by the DHI for entrepreneurs in Bhutan
The programme also focuses on financing, which is considered a major constraint in entrepreneurship promotion in Bhutan. To address this issue, the DHI will support entrepreneurs in sourcing their equity contribution to the project by providing a maximum loan amount of Nu 500,000 with an administrative fee of 5 percent per annum.
“DHI will not expect any interest or collateral from the entrepreneur and will not hold any ownership in their businesses. All entrepreneurs completing the DHI BizAP will be given an opportunity to avail the financing,” a press release from DHI states.
The programme will also provide support by establishing mentoring relationships with experienced businesspersons to help entrepreneurs set up and run their business successfully.
According to the press release, the programme also covers monitoring and evaluation systems where the DHI will monitor and evaluate the performance of the entrepreneurs and their businesses from time to time to ensure the success of the venture.
Partnering with IC2 Institute under the University of Texas, USA
The press release states that DHI has hired the services of IC2 Institute under the University of Texas, USA as a partner for the programme. Over the next one year, IC2 Institute will train and certify the local trainers and professionals to take forward the initiative so that the programme will be sustained once the institute exits the country.
As the investment arm of the government with the mandate to promote and encourage entrepreneurship and business development through venture capital and other required institutional support, the DHI initiated the programme to promote the Cottage and Small Industries sector in Bhutan as well.
This article first appeared in Kuensel and has been edited for the Daily Bhutan.