Top Five Business Ideas Bag Grants at National Start-up Weekend

Email

Prime Minister Tshering Tobgay said during the prize awarding ceremony that although the government has been promoting entrepreneurship, providing support in terms of policy and finance, it is time to streamline these processes.

Top Five Business Ideas Bag Grants at National Start-up Weekend. (Source: http://www.kuenselonline.com)

 

About the Top Five Business Ideas

SUNGJAB, an electronic scarecrow to protect crops from wild animals made using light-emitting diode (LED) lights in the shape of a tiger, motion sensors and high pitched sound bagged the first place in the Bhutan National Start-up weekend (technology edition) on March 18, in Thimphu.

The idea was chosen as the best among 24 ideas, which were selected from 157 individual ideas on March 16.

It won a grant of Nu 800,000 from the government through the information and communications ministry that would be used to materialise the idea.

A Smart Switch System to turn on and off selected electrical appliances such as house lightings and geyser won the second prize of Nu 600,000. Druk Holding and Investments (DHI) sponsored the prize.

ShaVeggi won the third prize of Nu 400,000, which is sponsored by the Ministry of Labour and Human Resources (MoLHR). The fourth best business idea, Bhutan Yacon Productions got Nu 200,000 from DHI and Meals on Wheels stood fifth to win Nu 100,000 from the Bank of Bhutan.

The organisers said that the fund would be disbursed phase wise, based on agreed deliverables and conditions stipulated by the government.

“The fund will be released as and when they implement the idea.”

The pad vending machine, DRUKVENDS won a certificate in the social impact category.  The idea for Natural Water Filter won the popular choice award of Nu 150,000, which was sponsored by the Tashi Group of Companies.

Other incentives given to the winning teams

Along with the cash prizes, the winning teams would be given special membership of Bhutan Innovation and Technology Centre. They will also be invited to the Bhutan Innovation and Technology Centre (BITC), Thimphu Tech Park sponsored workshops, seminars and events, and if desired, the entrepreneurs would be supported in developing the ideas further for submission to funding agencies.

The -Department of Information Technology and Telecom (DITT) would also assist the teams in liaising with other government agencies to materialise the idea into a commercial business. The teams would also be given books on entrepreneurship, innovation and startups.

Starting in February this year, more than 600 ideas were pitched in the seven colleges of Jigme Namgyel Engineering College, Sherubtse College, Gaeddu College of Business Studies, College of Language and Culture Studies, College of Science and Technology, College of Natural Resources, the Royal Thimphu College and at the BITC.

Of these, 157 ideas made it to the start-up weekend from which 24 were presented on March 18 for the final round.

Prime Minister Tshering Tobgay said during the prize awarding ceremony that although the government has been promoting entrepreneurship, providing support in terms of policy and finance, it is time to streamline these processes.

Start-up Bhutan for youth to incubate business ideas

“So in the 12th Plan, Start-up Bhutan will be one of the flagship programmes.  Through Start-up Bhutan, we hope that our youth will have a platform to transform their business ideas into reality.”

He added that the MoLHR would immediately establish a Start-up Bhutan office to provide entrepreneurs and start-ups with services, information and support. 

“We need to have a one stop shop that can provide a total solution for our budding entrepreneurs for start-up Bhutan,” he said. 

“MoLHR will be tasked with the responsibility of setting up this Start-up Bhutan office and the Gross National Happiness Commission will be tasked with the responsibility of designing a flagship programme for the 12th Plan.”

My Druk Ride, an online taxi hiring service application was also launched during the event. The application is expected to make it easier for taxis and clients to find one another. So far, 50 taxi drivers have registered with My Druk Ride.

The start-up weekend, which started on March 15 was the sixth held so far in the country.

 

By Karma Cheki (This article has been edited for the Daily Bhutan)

This article first appeared in Kuensel.

 


Related Posts

Thimphu Tech Park Expansion Begins

Thimphu TechPark begins work to expand its infrastructure with the ground breaking ceremony (Salang Tendrel) for a new...

Dec 22, 2017 14:51

Thimphu TechPark aims to attract foreign investment

The main mission of the company is to attract reputed IT/ITES companies from both within Bhutan and around the world to...

Oct 01, 2017 17:37

Startup Weekend Begins in Phuentsholing

The Startup Weekend is organised in collaboration with Thimphu Techpark, Techstars, Department of IT and Telecom (DITT)...

Oct 29, 2017 12:00

Starting a Business at the Global Entrepreneurship Week

An industry can be classified as a manufacturing, construction or service industry. The Regional Trade and Industry...

Nov 19, 2017 10:43

Techstars Startup Weekend Bhutan (Eco-Tourism): 54 Hours where...

The eventful weekend saw 130 keen people in attendance, of which 56 pitched ideas. This was the fifth time that such an...

Nov 29, 2017 08:46

Bhutan is the best place to do business in the Indian...

Compared to its neighbours, Bhutan is still the considered the best place to do business in the region. India is ranked...

Nov 06, 2017 10:23

Latest

News

Co-Funded By The EU, [email protected] Project Launched To Provide High Speed Internet For Bhutan’s Research And Education Communities

A high-speed network called DrukREN for research and education communities in Bhutan was also launched.

Aug 21, 2019 09:58

Find Innovative Solutions For Every Challenge: Prime Minister Modi To Bhutan’s Youth

Prime Minister Modi said that he ‘sees dynamism and felt energised’ while meeting with the future of Bhutan.

Aug 18, 2019 23:58

Features

Bhutan Women Parliamentary Caucus Launched To Promote Gender Equality

It is expected to address the need for women role models at leadership and decision-making levels in Bhutan.

Aug 20, 2019 17:08

Fulfilling His Majesty The King’s Vision, Digital Drukyul Is Set To Improve Public Service Delivery And Empower Citizens Digitally

Digital Drukyul will help create a digital ecosystem for citizens which is unencumbered by bureaucratic red tape.

Aug 19, 2019 15:28

Sports

Two Young Bhutanese Swimmers Competed In 18th FINA World Championship

The duo are proud to represent Bhutan and compete on a worldwide stage for the first time.

Jul 28, 2019 21:32

Bhutan’s Dragon Boys Starts FIFA World Cup Qualifiers With A 1-0 Win Over Guam

Midfielder, Tshering Dorji’s 35th minute strike was enough to make Bhutan win the first leg of the first round of the 2022 World Cup and...

Jun 08, 2019 22:18

Business

Southeast Asian Company Invests Over US$100,000 In Bhutanese Start-up Drukfood

The investment includes a mix of cash and investment-in-kind.

Aug 15, 2019 14:26

Bhutan’s First Crowdfunding Platform Gaining Traction, Opens Doors For Entrepreneurs To Raise Funds

So far, three promoters - Bhutan Alternatives, Freelancer Bhutan and Himalayan food have registered with the Bhutan crowdfunding platform.

Aug 05, 2019 22:10

Travel

7 Facts You Never Knew About Flying Into Bhutan

Druk Asia interviewed Namgyal Wangchuk, Senior First Officer with Drukair to find out what it's like to fly into Paro International Airport.

Aug 07, 2019 23:18

Bhutan Has Great Potential To Be A Top Eco-Tourism Spot: Albert Teo

Despite Bhutan being home to a wide array of flora and fauna, it is still not a top ecotourism destination.

Jul 19, 2019 23:58

Lifestyle

Bali-Bhutan Art Exhibition Hosted By VAST Bhutan To Enhance Friendship And Exchange Of Ideas

Founded in 1998, VAST Bhutan has been promoting and facilitating art exchange programmes with various nationalities.

Aug 22, 2019 14:28

Finding One’s Voice: Rapping In The Kingdom Of Bhutan

The lack of support for rappers stems from the general misconception that most people have about rap.

Aug 10, 2019 23:38

Subscribe to our newsletter

Never miss out on new happenings and news stories!