Five Business Ideas Pitched To Investors In Thimphu Via The Jab-Chor Platform
The pilot initiative was inspired by the concept of ‘angel’ investors.
By Phurpa Lhamo | Kuensel
The first pitching session on the Jab-Chor platform saw five entrepreneurs presenting their business ideas to investors in Thimphu on 24 December.
Jab-Chor is a platform created to bring young entrepreneurs together with individuals and companies who have the capital and are willing to invest and provide early stage financing.
The pilot initiative was inspired by the concept of ‘angel’ investors. Angel investors are wealthy individuals who provide entrepreneurs and start-ups with capital during the early stages of their businesses, in return for ownership equity.
More about the five business ideas pitched
Of the five business ideas presented at the pitching, Freelancer Bhutan—a freelance portal to provide services to clients was one of them.
The promoter, Nima Moktan said that the portal allows clients to post and freelancers to bid for projects under categories such as: web, mobile and software development, graphic design, data science and analytics, accounting and consulting, translation, sales and marketing, among others.
“Freelancer Bhutan operates as a Tech Hub where we provide services in the global market through the freelance portal. Today ‘Freelancer Bhutan’ focuses on programming and tech only.”
Freelancer Bhutan is seeking additional funds for the business to purchase office furniture, machinery and stationery. It also wants to establish a training institute to equip young the Bhutanese workforce with skills and knowledge for business.
Chechay Sanitary Pads, a business idea led by the only female entrepreneur at the pitching session, Pema Chozom said that the 43 percent of Bhutanese women, including 50 percent of the nuns lack access to sanitary pads.
Founder Ms. Pema Chozom, supporting
Menstrual Hygiene Bhutan to raise awareness.
Photo: Facebook/Cheychay sanitary pad
She pitched her idea to produce sanitary pads with comfortable features at a cheaper rate. Pema Chozom said that the capital raised would be used for the purchase of machines and Boleros. Her market would be the central schools, hospitals, nunneries and the rural settlements.
Housing.bt, a real state agency market in the country was also one of the business ideas pitched. The agency provides real state agency, property management and handyman services.
Promoter Jigme Tenzin said that ‘Housing.bt’ was among the top 15 innovative start-ups recognised by the US department of states in 2016. It was selected out of 126 ‘emerging economics’ at the Silicon Valley in USA, hosted by former US President Barack Obama.
“A record of 400 cases on disputed properties have been reported in the court of law in Thimphu alone. On the other hand, there are 5,000 residential buildings in Thimphu that recorded 375 cases of tenancy disputes per annum in Thimphu alone.”
Among five business ideas pitched, two were on waste management.
Eco Waste Solution was set up to efficiently manage increasing waste in Wangdue and Punakha.
The promoter, Dhan Kumar Shyangden said that the next significant step towards fulfilling the goal of achieving an effective waste management system is to build and operate a transfer station or material recovery centre.
Photo: Facebook/Eco Waste Solution
“The transfer station is a centre where waste will be segregated and processed for recycling which increases the life span of the landfill. The probability of the project and its viability correlates to the mounting growth of solid waste with the increase in population.”
To address the challenges of tackling the issue of growing waste, Green path, another business idea was pitched.
Unlike Eco Waste Solution, Green Path works with hotels and restaurants of Trashigang town to collect reusable items.
The promoter, Sangay Gempo said that the equity acquired from Jab-Chorpas would be used to install waste segregation machines and transportation vehicles to upscale the current initiatives.
The Governor of the Royal Monetary Authority, Dasho Penjore has sought investors’ contribution to nurture these entrepreneurs.
Institutions which will lend further support to these entrepreneurial ideas
Institutions such as the Thimphu TechPark will select youth groups with potential ideas which require equity as seed or start-up fund.
Photo: Thimphu Techpark
The Bhutan Chamber of Commerce and Industry will provide a formal channel to coordinate the participation of investors through the registration process.
The company’s registry division will also facilitate the familiarisation of contractual terms, business rules and on how to mediate entrepreneurs, with support from the RMA legal team.
The Royal Securities Exchange of Bhutan will help entrepreneurs to develop the ‘offer document’ and carry out an evaluation process to select the start-ups from the pitching session.
This article first appeared in kuensel and has been edited for the Daily Bhutan.