PRESS RELEASE

DHI Business Acceleration Program (DHI BizAP)

The third cohort of 19 Entrepreneurs working in the cottage and small industry sector graduated from the 3-month long DHI Business Acceleration Program (DHI BizAP) Training. From the 39 entrepreneurs who had applied, 19 were selected for training and 18 graduated. The program is conducted in partnership with University of Texas at Austin, USA with focus on clearly understanding the dynamics and optimizing one's own business and increasing market penetration.

 

Opportunity was provided to the graduates to pitch for the collateral free DHI Business Acceleration Fund. 11 graduates pitched for the fund, of which 9 of the entrepreneurs have been approved for funding. The financing has a gratis period of 1 year and a repayment period of 5 years. The financing is provided to address the gaps in access to finance and based purely on the credibility of the entrepreneur and the business plan.

The Entrepreneurs would now be provided with opportunity to avail mentorship services. Business persons from varying sectors have volunteered their services to guide the entrepreneurs to their full potential. Besides the opportunity of networking, the insights and advice provided by the mentors help the Entrepreneurs maneuver through many challenges. 23 business persons are supporting the initiative as Voluntary mentors.

The DHI Entrepreneurship Team regularly monitors the entrepreneurs and the growth of their business by conducting site visits and organizing networking forums.

Over the period of a year, DHI has conducted three DHI BizAP training programs and a total of 60 entrepreneurs have successfully completed and graduated from the training. A total fund of Nu. 17,000,000 has already been sanctioned by DHI to support these entrepreneurs.

The DHI Business Program is being conducted in line with the DHI mandate to promote the private sector, and promote entrepreneurship and business development.

 

(For further details, please contact Mrs. Lhakyi Tenzing @ lhakyitenzing@dhi.bt)


 

Press Release

Graduation Ceremony (Cohort 1)
DHI Business Acceleration Program (DHI BizAP)


Thimphu: The Governor of Royal Monetary Authority, Hon'ble Dasho Penjore was the chief guest for the closing ceremony for the DHI Business Acceleration Program (DHI BizAP) held on 22nd January at DCSI Start Up Center, Changzamtog Thimphu.

As part of the capacity development for existing entrepreneurs, DHI launched BizAP on October 13, 2018 coinciding with Royal Wedding Anniversary of their Majesties. The hands-on advanced level entrepreneurship training was delivered in Thimphu from October 2018 to January 2019 by global experts in innovation and entrepreneurship. The training sharpened entrepreneur's value proposition, defined target market, sought market feedback on product/technology and determined effective business model for an enterprise. 25 entrepreneurs were selected and all participants successfully completed the program. The participants had undergone 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.

DHI hired the services of IC2 Institute under the University of Texas, USA as a partner Institute for their proven entrepreneurship training methodology, over which they maintain Intellectual Property rights, and has enjoyed tremendous success in over 30 countries around the world. This international entrepreneurship program has created more than USD $1Billion in economic impact worldwide in the last 10 years. The programs have taught best practices in technology transfer, entrepreneurship, incubation management and commercial acceleration of new enterprises.

Further to ease the access to financing needed for accelerating and expanding the business, DHI has established a DHI Business Acceleration Fund to provide collateral free financing for the entrepreneur's contribution to their business. In the coming week, BizAP graduates will pitch their business plans to the investment panel to secure financial support from DHI Business Acceleration Fund.

In addition, DHI will support the entrepreneurs in establishing mentoring relationships to aid the entrepreneurs in setting up and running their business successfully. Mentoring will pair the entrepreneurs, who have undergone the training program, with local or international entrepreneurs who can offer strategic advice with respect to accelerating the business. DHI will also monitor and evaluate the performance of the entrepreneurs and their businesses from time to time to ensure the success of the venture.