Busi­ness idea com­pe­ti­tion to pro­mote in­no­va­tors and en­trepreneurs

Bhutan Times - - Home - Lhakpa Tsh­er­ing

Bhutan In­no­va­tion and Tech­nol­ogy Cen­tre, Thim­phu TechPark, in col­lab­o­ra­tion with En­trepreneur­ship and Self Em­ploy­ment Divi­sion of the de­part­ment of em­ploy­ment un­der the min­istry of Labour and Hu­man Re­sources has con­ducted the na­tion­wide ‘Busi­ness Idea Com­pe­ti­tion of Bhutan’ with the theme ‘In­no­va­tive Busi­ness Idea’. The prize award cer­e­mony was held last Mon­day at Thim­phu TechPark, Babesa.

The busi­ness idea such as power of idea in In­dia has proven to be an ef­fec­tive in pro­mot­ing in­no­va­tion. Coin­cid­ing of such suc­cess busi­ness in other part of the coun­try, Bhutan has started con­duct­ing busi­ness idea com­pe­ti­tion in 2012 with the sup­port of De­part­ment of IT and Tele­com, Min­istry of In­for­ma­tion and Com­mu­ni­ca­tion (MoIC) and World Bank, to en­cour­age and pro­mote in­no­va­tors and en­trepreneurs to raise aware­ness on in­no­va­tion and en­trepreneur­ship in the coun­try.

Ac­cord­ing to Ms. Sonam Cho­den, Op­er­a­tion Man­ager, BITC, Thim­phu TechPark, Bhutan In­no­va­tion and Tech­nol­ogy Cen­tre re­ceived 76 en­tries in 2013 fol­lowed by 82 in 2014, 50 en­tries in 2015 and 126 en­tries in this year. Among which 42 en­tries are from on­go­ing stu­dent par­tic­i­pants. The ma­jori­ties’ par­tic­i­pants are from Gedu Col­lege of Busi­ness Stud­ies fol­lowed by Royal Thim­phu Col­lege. 69 en­tries are into man­u­fac­tur­ing and 57 of the en­tries are into ser­vices. They have re­ceived about 500 busi­ness ideas since 2012 where 30 of them have ex­e­cuted their busi­ness idea and they are run­ning their busi­ness.

In the gen­eral cat­e­gory Ugyen Wangchuk and Tashi Phuntsho won the first price for their busi­ness idea on nat­u­ral soaps in the busi­ness idea com­ple­tion. They were awarded at­trac­tive prize of Nu.100, 000 for their in­no­va­tion. “We have de­cided to sub­mit our busi­ness pro­posal in the last minute and we never ex­pected to win. We have started our busi­ness plan in 2013. But we couldn’t start man­u­fac­tur­ing as there was no bud­get. How­ever, we started sup­ply­ing the nat­u­ral soaps from 16th of Jan­uary 2016”. Ugyenn Wangchuk said.

The sec­ond prize was awarded to two busi­ness ideas: grounded glass bricks and com­mer­cial green house with Nu. 25, 000 each and third award of Nu. 20, 000 was awarded to the busi­ness idea of LED bulb and ad­ver­tis­ing board. The free in­cu­ba­tion sup­port for six months will be given to three win­ners at Bhutan In­no­va­tion & Tech­nol­ogy Cen­tre (BITC), Thim­phu TechPark.

In the stu­dent cat­e­gory Dhan Ku­mar from Gedu Col­lege of Busi­ness Stud­ies took the first prizeof Nu. 30, 000 for his busi­ness idea of eco-waste so­lu­tion fol­lowed by con­so­la­tion price of Nu. 10, 000 each to Men­jong Pasta and Bhutan In­ter­lock­ing bricks from Royal Thim­phu Col­lege. The seven other par­tic­i­pants are awarded cer­tifi­cates and free in­cu­ba­tion sup­port for six months at Bhutan In­no­va­tion & Tech­nol­ogy Cen­tre (BITC). The re­main­ing par­tic­i­pants were also awarded cer­tifi­cate of their recog­ni­tion. The win­ners were se­lected by the judges of rep­re­sen­ta­tives from Min­istry of Labour and Hu­man Re­sources, Lo­den Foun­da­tion, BITC and po­ten­tial in­vestors.

The sec­re­tary for Min­istry of In­for­ma­tion and Com­mu­ni­ca­tion Dasho Kin­ley Dorji who was the chief guest at the cer­e­mony en­cour­aged the par­tic­i­pants to innovate and cre­ate ideas for busi­ness. “I wished I am a great one civil ser­vant, a govern­ment sec­re­tary re­tir­ing soon and I hope it is from the en­vi­ron­ment that is com­ing up. I feel that I am now able to pro­mote my­self to be­come a mem­ber of pri­vate sec­tor”. Said the Sec­re­tary.

Min­istry of Labour and Hu­man Re­sources and Bhutan in­no­va­tion and Tech­nol­ogy Cen­tre jointly or­ga­nized the 5th na­tion­wide busi­ness idea com­ple­tion of Bhutan (BICOB) and will be an an­nual event.

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