The Launching of Business Incubation Unit (BIU)
The pilot Business Incubation Unit (BIU) will be inaugurated at Technical Training Institute, Chumey on 27th August, 2015 by the Hon’ble Minister, MoLHR. The objective of the unit is to promote employability among the unemployed trained youth as well as fresh jobseekers interested to take up construction trades by giving them work experience.
The Unit will operate as an Incubator to provide the TTI /IZC graduates as well as fresh jobseekers with real work experience. It will also help the TTI/ IZC graduates and other jobseekers in building confidence in handling real life projects. The Business Incubation Unit will also help in encouraging and promoting the concept of Self Employment. The Unit will offer construction related services, assist the participants to identify, negotiate possible projects and execute them.
The Unit will contribute in meeting the demand for national skilled workers and reduce dependency on foreign workers. It will also train the participants in project coordination and management to ensure timely completion and effective utilization of resources.
The Unit will be attached to the TTI Chumey and will function as one of the divisions of the Institute. It will be under the direct administration of the Principal with the Institute Laision and Publicity Unit (ILPU) coordinating the functions of the unit.
During the initial stage of the Business Incubation Unit (BIU), the RGoB will assist in procurement of all necessary tools and equipment and meet recurrent cost in terms of permanent staff emoluments, rental charges of office space and miscellaneous office expenses. The existing machineries and equipment of the TTI will be used for this purpose (hire out to the unit). Procurement and cost of materials and specialized equipment required for execution of the work is to be met by the client.
Stipend for participants during the time when no projects are being un- dertaken will be paid by the Royal Government of Bhutan.
Salary of all participants will be met through the payment by the client for the services offered which will not be less than the national minimum wage. The salary will differ based on the experience of the participants and the nature of the contract work.
The setting up of the Business Incubation Unit will be funded jointly by the RGoB and OSD4SC Project, Helvetas, Swiss inter cooperation.