Three business ideas recognized in Bhutan Startup Innovation Techweek
Thrilled and grilled to their ideas, 15 enthusiasts startups showcased their business ideas during the closing of Bhutan Startup Innovation Tech week program organized by Department of Employment and Human Resources under the Ministry of Labour and Human Resources (MoLHR) on 16 November in Thimphu.
In a five minutes, presentation, the startup entreprenuers were thrilled and happy to present their innovative ideas in Biotech, FinTech, EduTech, CleanTech, MediTech, RoboTech, AgriTech and Artificial Intelligence.
According to MoLHR , the objective of the event was to provide unique opportunity for young aspiring entrepreneurs to demonstrate their ideas and launch ideas into products. The event was themed “Pitching your idea and make it to market in 40 hours in a week,” which provides the youth to take alternate career paths.
The winner of pitching ideas was bagged by Rosan Rasaily, 32, an Bachelors in Computer Applications graduate and his team with his idea of a air cooler technology, Polar Brezz. An civil engineer, graduate from Jigme Namgyel Engineering College, Deepak Ghalley, 26, and his team with his idea of rice transplanting machine got the second position and Penjore Dorji, 33, and his team with his idea of production of Bhutanese paintings through use of naturally produced colors , Bhutan Natural Pigment Coloration stood third.
The winner of the program had a cash prize of Nu. 0.1mn, second with Nu. 75,000 and third with Nu. 50,000.
“I was interested in business, entrepreneurs and business was very different,” Rosan Rasaily said. He added that entrepreneurs is all about oneself with one's own ideas.
The idea struck him when he was residing in Gelephu, one of the hottest places in Bhutan. He thought of need of a air cooler, which uses hay and water to give the air cooling effect when his parents were not able to use imported air conditioners being a gout and kidney patient. “This air cooler gives similar pleasure of sitting near the river banks,” he added. He is looking for the land and quality certification of his products to began commercialization and plans to apply for funds from priority sector landing scheme.
Another young hardworking startup, Deepak Ghalley said that he came up with the rice transplanting machine because of him being a son of farmer, he had experienced hardships of paddy cultivation being labor intensive and expensive. He said his machine is affordable and maintenance can be done easily.
“My aim was not to win prize however, it was for, how to sell ideas so that we can earn by selling to the farmers, he said”.
He plans to operate his machine next year and look for funds thorough Loden Foundation and Rural Enterprise Development Corporation Limited.
“With winning the award, we have extra responsibility,” Penjor Dorji said. He urges youths to not look directly for money but if someone have good idea, look for how to start and get support from the entreprenu- ers and the government.
During the event, chief guest, Director General of Employment and Human Resources, Sherab Tenzin said that economy must provide higher qualities of jobs and it must come through higher ideas. Delighted with the ideas, he said that most of the ideas were low risk with high returns, and very relevant to time.
“We always think about jobs, we have to take jobs, we have to have creator of jobs,” he added.
The top 10 finalists will be taken to Startup Acceleration program for three months and by the end of third month they will be launching their products and services in the market.
There were 83 participants who registered for the event. However, only 50 turn up for the event and 21 pitched their ideas. A week long program began on 12 November.
The winners from left: Penjor Dorji (Third), Rosan Rasaily (First) and Deepak Ghalley (Second)