13th October, 2018

Press Release

DHI Business Acceleration Program (DHI BizAP)

Thimphu, 13 October 2018: The chief advisor of the interim government, Chief Justice Tshering Wangchuk inaugurated the opening ceremony for the DHI Business Acceleration Program (DHI BizAP), which was held on 13th October 2018 at Start-Up Center, Changzamtog Thimphu. DHI Chairman Dasho Ugen Chewang and DHI Chief Executive Officer, Dasho Karma Y. Raydi also attended the ceremony.

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", a holistic approach to entrepreneurship development is initiated by DHI mainly to promote Cottage and Small Industries (CSI) sector in Bhutan. Cottage and Small Industry (CSI) have the potential to create employment opportunities, reduce rural- urban migration, enhance income generation and livelihood, thus contributing significantly to the development of the economy of the country with the end goal of achieving economic self-reliance.

Following key components will be covered under this comprehensive entrepreneurship program.

  • Training and Skill development
    The hands-on high-level entrepreneur training is delivered by global experts in innovation and entrepreneurship, which will sharpen entrepreneur's value proposition, define target market, get market feedback on product/technology and determine effective business model for an enterprise. Entrepreneurs will undergo 33 days of training spread over 3 months with a balanced mixture of face-to face, virtual classes and assignments considering that the entrepreneurs have to focus on their business during the training period.
  • Financing
    Access to financing is considered a major constraint in entrepreneurship promotion in Bhutan. To address this, DHI will support entrepreneurs in sourcing their equity contribution to the project by providing a maximum amount of Nu.500,000 with an administrative fee of 5% 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.
  • Mentorship
    DHI will also support the entrepreneurs in establishing mentoring relationships with experienced business persons to aid the entrepreneurs in setting up and running their business successfully. Mentoring relationships are very useful in building business linkages and networks to assist in accessing the market. Mentoring will pair the entrepreneurs, who have undergone the training program, with local or international entrepreneurs who can offer strategic advice with respect to their venture.
  • Monitoring and Evaluation Systems
    DHI will monitor and evaluate the performance of the entrepreneurs and their businesses from time to time to ensure the success of the venture. With proper and timely follow-ups and guidance, the chances of success of the venture will be substantially enhanced.

DHI has hired the services of IC2 Institute under the University of Texas, USA as a partner for their proven entrepreneurship training methodology, over which they maintain Intellectual Property rights, and has enjoyed tremendous success in over 40 countries around the world. This international entrepreneurship program has created more than USD $1billion in economic impact worldwide in the last 10 years. The program has taught best practices in technology transfer, entrepreneurship, incubation management and commercial acceleration of new enterprises. Over the next one year, IC2 Institute will train and certify the local trainers and professionals to take forward the initiative so that the program is sustained once the institute exits the country.

The first cohort of the training program will commence on 13th October 2018 and will finish on 14th February 2019.

[For any queries related to this project, you may please contact Mr. Sherab Namgay, Associate Director, Department of Investment, DHI, Mobile number 17117485]

Druk Holding & Investments Limited
Motithang, Thimphu
P.O. Box # 1127