The DHI Business Acceleration Programme, DHI BizAP, began on October 13 at the start-up center in Changzamtog Thimphu.
Chief advisor of the interim government, Chief Justice Tshering Wangchuk inaugurated the opening.
The entrepreneurship programme covers training and skill development,which will sharpen the entrepreneurs’ value proposition, define target market, get market feedback on product/technology and determine effective business model for an enterprise.
The programme also focuses on financing, which 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 percent 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,” a press release from DHI states.
The programme will also support in establishing mentoring relationships with experienced businesspersons to help entrepreneurs set up and run their business successfully.
According to the press release, the programme also covers monitoring and evaluation systems where
DHI will monitor and evaluate the performance of the entrepreneurs and their businesses from time to time to ensure the success of the venture.
The press release states that DHI has hired the services of IC2 Institute under the University of Texas, USA as a partner for the programme. Over the next one year, IC2 Institute will train and certify the local trainers and professionals to take forward the initiative so that the programme is sustained once the institute exits the country.
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, the DHI initiated the programme to promote Cottage and Small Industries sector in Bhutan.
The first cohort of the training programme, which began on October 13, will finish on February 14, 2019.
DHI Chairman Dasho Ugen Chewang and DHI Chief Executive Officer, Dasho Karma Y. Raydi also attended the opening.