After a four-year hiatus, National Startup Weekend began in Thimphu yesterday. It focuses on collaboration and development in emerging technologies for aspiring innovators and entrepreneurs. The theme for the second edition of the event is, “Cultivating Conscious Innovation: Merging Emerging Technologies with Mindful Development Practices.”
The four-day event started with the Startup Community Bootcamp to strengthen Bhutan’s innovation and entrepreneurship ecosystem.
A panel discussion was held to understand the current scenario of the startup ecosystem and realize the aspirations of Gelephu Mindfulness City.
“If we look at GMC as a Special Administrative Region, it provides the opportunity to be agile and innovative, to bring in the best of rules and policies that are thriving and good for entrepreneurship to flourish. So, it’s an aspiration through the GMC that we bring the best of policies and regulations, best of mindsets and the best of folk leaders globally but most importantly within Bhutan,” said Ujjwal Deep Dahal, CEO of Druk Holding and Investments.
“Preparedness is critical at this stage. You have to be part of the ecosystem to understand, show up at conferences and participate in training programmes. That’s how we build up the readiness for the private sector,” said Sonam Chophel, President of the Association of Bhutanese Cottage, Small, and Medium Industries.
It is also to discuss how Bhutan can unlock doors for global investments and more importantly, encourage Bhutanese innovators.
“We have to make it easy for the private sector to thrive in this ecosystem. Therefore, deregulating, making it easier, should be a red-carpet service for the private sector to be able to grow in this industry. So that will eventually, give way for innovation, new ventures would be propelled in Bhutan,” said Sonam Chophel, President of the Association of Bhutanese Cottage, Small, and Medium Industries.
“Different mechanisms of capital are necessary, which I think the government is working towards establishing an innovation seed fund, where we are looking forward to how that will help our startup and entrepreneurial community,” said Jigme Tenzing, Secretary of Government Technology Agency.
“One is financing, the other is on the policy front and the human capital support system. So, around that, the ministry looks at how to ease the policy regulatory aspects and also provide all the necessary support for aspiring and existing entrepreneurs and startup communities,” said Tashi Wangmo, Secretary of the Ministry of Industry, Commerce and Employment.
The government is putting in every effort as they fund the event through the Economic Stimulus Programme.
Today, over 130 participants are pitching ideas to fund their startups.
Kelzang Chhophyel
Edited by Tandin Phuntsho
