Housing.Bt Received Funding From An Investor Through The Jab-Chor Platform For Young Entrepreneurs In Bhutan

Email

The Yarkay Group Private Limited supported Housing.bt with Nu 2 million.

At 2,334 m above sea level, Thimphu is the fifth highest capital city by altitude, after La Paz in Bolivia (3,640m), Quito in Ecuador (2,850m), Bogota in Colombia (2,625) and Addis Ababa in Ethiopia (2,355). (Source: Vietravel)

 

By Phurpa Lhamo Kuensel

Of the five business ideas pitched at the first Jab-Chor platform on December 24, housing.bt, by Jigme Tenzin received funding from an investor.

Jab-Chor is a platform for young Bhutanese entrepreneurs to nurture and grow their business ideas through access to finance. It is supported by legally executed business partnership deed that is recognised by the laws of Bhutan.

Why Housing.bt was selected

Housing.bt, a real estate agency market in Bhutan, received the funding required for further development of the business through the platform. It will use the capital for its fixed assets and working capital.

 

Photo: Yarkay Group

 

The Yarkay Group Private Limited supported Housing.bt with Nu 2 million. The managing director of Yarkay Group Private Limited, Phub Zam, said that setting an example for investors to support young entrepreneurs is important.

“Hearing the governor speaking about supporting youth with such passion, I also thought that we should do something for our youth,” she said.

“Housing.bt is a business where we don’t need to import much, where the market is within Bhutan and the service receivers are here.”

Other business ideas pitched include: Freelancer Bhutan—a freelance portal to provide services to the clients, Chechay Sanitary Pads which seeks to produce sanitary pads with comfortable features at a cheaper rate, Eco Waste Solution and Green Path, both with aims to manage waste efficiently.

Contributions from various institutions in Bhutan for this initiative

Various institutions were involved in the initiative. Thimphu TechPark Limited (TTPL) selects youth groups with potential ideas requiring equity as seed or start-up fund while the Bhutan Chamber of Commerce and Industry (BCCI) provides a formal channel to coordinate the participation of investors through the registration process.

 

Photo: Thimphu Techpark

 

The company registry division facilitates the understandings of contract terms, business rules and mediate entrepreneurs with support from the Royal Monetary Authority (RMA) legal team.

In addition, the Royal Securities Exchange of Bhutan also helps entrepreneurs develop their offer documents and carry out the evaluation process to select the start-ups for the business pitching session.

The Deputy Governor, Yangchen Tshogyel, said that the BCCI will continue to seek investors for the four entrepreneurs who had also pitched their ideas at the platform.

Plans to institutionalise the platform - Jab-Chor

She added that the agencies would now work towards the institutionalisation of Jab-Chor for a more structured and sustainable firm.

“We started Jab-Chor as a pilot project. Now we have to talk with different partners to see who can carry it forward in a structured way. After institutionalisation, the agencies will look into new entrepreneurs. A competitive selection process will also be established.”

The agencies will also work with the stock exchange in coming up with a crowd-funding platform in future.

“We are looking at donations, rewards as well as equity. The beauty of crowd-funding is that it is about the distribution of risks and many people can participate in it. Crowd-funding could be an option for the remaining four entrepreneurs,” Yangchen Tshogyel said.

 

This article first appeared in kuensel  and has been edited for the Daily Bhutan.

 


Related Posts

Five Business Ideas Pitched To Investors In Thimphu Via The...

The pilot initiative was inspired by the concept of ‘angel’ investors.

Dec 26, 2018 06:42

Jab-Chor—A Platform For Young Entrepreneurs In Bhutan To Nurture...

Jab-Chor was inspired by His Majesty’s aspirations for the youth of Bhutan.

Dec 19, 2018 15:03

First-Ever Women’s Edition Of The Start-Up Weekend In Bhutan Aims...

Eighteen women from diverse backgrounds took part in the event, where they pitched business ideas, worked in teams and...

Nov 27, 2018 13:26

Start-up Centre In Bhutan Held Session To Provide Advice On Doing...

Guidance was provided during the first session on starting a business held at the newly established start-up centre at...

Aug 14, 2018 12:06

Founder Of ‘Sushi’s Candles & Crafts’ Wants To Inspire More Women...

Sushanta wants to set a shining example for more women in Bhutan to fulfil their dreams of starting their own...

Jan 05, 2019 15:19

Entrepreneurial Student In Bhutan Won His Majesty’s Scholarship...

Even if Tashi Tshewang gets a scholarship to study in a government college or abroad, he will continue to repair shoes...

Aug 27, 2018 16:22

Latest

News

How Well Prepared Is Bhutan To Deal With A Covid 19 Outbreak?

Bhutan has so far not reported any cases of Covid 19.

Feb 27, 2020 23:48

Bhutan Launched 21st Century Economic Roadmap To Engage Citizens On Nation’s Progress

Prime Minister Dr. Lotay Tshering launched the website and it can be accessed through http://economicroadmap.gnhc.gov.bt

Feb 25, 2020 23:38

Features

The Bizarre Culture of Night Hunting in Bhutan is Fading

In many parts of eastern Bhutan, Night Hunting is a courtship tradition, a rural version of urban dating. In hard-working, farming...

Feb 27, 2020 06:44

Tribes Of Bhutan - The Brokpas

Merak and Sakteng is home to the Brokpas, a semi-nomadic yak herding tribe who originated from the Tshoona region of Tibet.

Feb 22, 2020 23:48

Sports

Karma – Female Archer From Bhutan Qualified For Tokyo 2020 Olympic Quota

Karma has been specialising in Olympics-style archery since 2009.

Nov 30, 2019 13:18

Bhutan’s Pelden Wangchuk Wins 10th Edition Of Tour 0f Dragon Mountain Bike Race

This year, the race also saw the highest number of female participants compared to past years.

Sep 10, 2019 01:08

Business

Centre Of Excellence For Software Engineering Launched By Bhutan’s Thimphu Techpark

The purpose of establishing this centre is to fulfil His Majesty the King’s vision of using technology to solve problems.

Feb 24, 2020 23:58

Two ‘Made In Bhutan’ Products To Hit The Market Soon, Also Eyeing Overseas Foray

Druk Peci and Bhutan Green Product were launched on 19 February.

Feb 20, 2020 23:38

Travel

Forging the Unbeaten Trail Towards Wangdue Nye

When you dedicate year 2020 to hike on unbeaten trails in Bhutan.

Jan 21, 2020 10:58

Make Your Own Personalised Stamps And Discover Bhutan’s Postal History At The Postal Museum

The Bhutan Postal Museum in Thimphu is also a major tourist attraction.

Jan 18, 2020 21:08

Lifestyle

See Exquisite Garments On Display At The ‘Royal Robes - Wangchuck Dynasty’ Exhibition

The exhibition will remain open to the public until January 2021.

Feb 19, 2020 23:28

Nightlife in Bhutan

The nightlife is delaying the day by engaging with fun and recreational activities at owl hours. Thimphu Nightlife could fascinate you.

Feb 08, 2020 12:22

Subscribe to our newsletter

Never miss out on new happenings and news stories!

Download Daily Bhutan Mobile App

Connecting with us just got easier!