In a move to further enhance the entrepreneurial and investment ecosystem in Bhutan, the Jabchor 2.0 programme has been launched. It is a platform for equity financing connecting high-potential entrepreneurs with local and foreign investors. Its website was launched yesterday.
After the application deadline, which ends after two weeks, the shortlisted applicants will attend boot camps, interview, training and pitching event.
The ideas should focus on sectors such as agriculture, manufacturing, IT or IT Enabled Services and green tech.
Officials said the top 10 startups will be selected and connected with potential investors. Individuals with new ideas or those already running businesses can participate in the event.
Tashi Tenzin, Assistant Programme Officer of the Department of Employment and Entrepreneurship said “When there are investments, potential businesses can be developed. In this regard, we can also create employment opportunities.”
With financial access being the biggest hurdle for the entrepreneurs, this platform aims to help them get funding by offering ownership shares of their businesses to local and foreign investors.
Tashi Tenzin added that “It is a problem for businesses within the country to have access to finance. Without collateral, it is hard to get loans from the banks. So, no matter how good a business idea is, there is no opportunity for them to establish a startup of scale up the existing ones.”
The Jabchor programme was initially founded by the Royal Monetary Authority in 2018.
It was then continued by Bhutan Chamber of Commerce and Industries. Now, the platform will be overseen by the Department of Employment and Entrepreneurship.
Kunzang Lhamu, Director General of Department of Employment and Entrepreneurship said “Since the department is mandated to promote productive and meaningful employment, we see entrepreneurship as an alternative strategy towards the creation of employment. With the department’s mandate, it is necessary to really enhance the entrepreneurship ecosystem in Bhutan. So, Jabchor version 2.0 is expected to enhance the entrepreneurial landscape in the country.”
Both entrepreneurs and investors can now register through the website. The programme is funded through the Economic Stimulus Programme.
Kelzang Chhophyel
Edited by Tshering Zam
