ANNOUNCEMENT
Druk Holding and Investments Limited (DHI)
In line with His Majesty the King's Royal address to the Nation on 10 April 2020, the subsequent monetary relief measures issued by the Royal Government of Bhutan and the Royal Monetary Authority of Bhutan (RMA) in response to COVID-19, DHI is hereby providing the following relief measures for the DHI Business Acceleration Fund recipients/ entrepreneurs:
1) Deferment of fund repayment
- The deferment of fund (principal and administration fee) repayment shall be provided for a period of three months (April to June 2020) to all the entrepreneurs/recipients that have received financing from the DHI Business Acceleration Fund.
- If repayments are made by Entrepreneurs during the deferment period, the entire amount will go towards reduction of the financing amount.
2) No penalty/late fee shall be charged during the deferment period (April to June 2020).
3) Waiver of Administration Fee: No administration fee shall be charged during the deferment period (April to June 2020).
The waiver and deferrals are being considered only for DHI BizAP Cohort 1 fund recipients at the moment as the repayment starts by the end of April 2020. DHI BizAP Cohort 2 and 3 fund recipients are presently in the gestation period.
For more information and clarification, please write to dhibizap@dhi.bt.
ANNOUNCEMENT (BizAP Cohort 3)
Background: The Royal Charter for DHI mandates to "Promote and encourage entrepreneurship and business development through venture capital and other required institutional support". In keeping with the important mandate to promote and support private sector development, a holistic approach to entrepreneurship development is proposed as an initiative of DHI targeted mainly towards promoting Cottage and Small Industries (CSI) sector. With the successful completion of first and second cohorts, DHI now invites application for the third cohort of DHI BizAP to be held from September 16, 2019 onwards.
In order to conduct this training, DHI has hired IC2 Institute under the University of Texas, USA. The proven IC2 methodology, over which they maintain Intellectual Property rights, has enjoyed tremendous success and has been applied in over 30 countries around the world. These international programs have created more that USD $1Billion in economic impact worldwide in the last 10 years. The international programs have helped build innovation ecosystems in Portugal, Mexico, Colombia, Chile, Poland, Korea, India and other countries. Programs have taught best practices in technology transfer, entrepreneurship, incubation management and new enterprise commercial acceleration. For more information on IC2 Institute, click here http://ic2.utexas.edu/.
DHI BizAP program includes:
Training: With many basic start-up entrepreneurship training courses being provided in the country, DHI is providing a higher level structured training with the focus on commercializing business ideas and launching businesses in the market. The training will target those entrepreneurs that already have businesses or entrepreneurs that are in the advanced stage of launching their businesses. In addition, the training will also incorporate a learning/networking tour. Trainees performing well during the training will be identified for the regional tour to aid entrepreneurs in developing the necessary skills, knowledge, network, market, etc. that will enhance and grow their business. The training is delivered by global experts in innovation and entrepreneurship, using the proven and patented IC2 entrepreneurship training methodology. Selected entrepreneurs will undergo 33 days of training spread over 3 months with a balanced mixture of face-to face, virtual classes and assignments.
- Funding: Access to financing is considered a major constraint in entrepreneurship promotion. To address this, DHI will support entrepreneurs in sourcing their equity contribution to the project. DHI will provide a maximum amount of Nu.500,000 with an administrative fee of 5% per annum. DHI will not expect any interest or collateral from the entrepreneur and DHI will not hold any ownership in their businesses. Entrepreneurs will be required to repay the principal amount only. All entrepreneurs undergoing the DHI Business Accelerator training program will be given an opportunity to pitch their business to the Business Accelerator Fund panel.
- Mentorship: Once the Entrepreneurs' undergo the training and avail the funding, DHI will also support the entrepreneurs in establishing mentoring relationships to aid the entrepreneurs in setting up and running their business successfully. Mentoring relationships are very useful in building business linkages and networks. This networking can also help entrepreneurs in accessing the market for their goods and services. Therefore, the aim of mentoring is to provide necessary advisory services to entrepreneurs to support them in starting or expanding their business venture. Mentoring will pair the entrepreneurs, who have undergone the training program, with local or international entrepreneurs who can offer strategic advice with respect to the launch of a new venture.
- Advisory Services: DHI will also make available its experts to provide subject specific mentoring such as HR, legal, accounts, etc.
Only 15 best Businesses will be competitively selected based on the selection criteria used by IC2 Institute of for this training cohort.
How to Apply?
- Download the Application Form and fill the application.
- Either email the filled application form with other supporting documents to dhibizap@dhi.bt OR submit it to Enterprise Development Unit, DHI office during office hours. (CV Format)
Note:
- Applicants are advised to read and ensure they fully understand all related instructions before completing the application form.
- Applicants are to note that submission of incomplete application forms/ fake supporting documents will not be processed.
| Sl. No. | Activity | Date |
|---|---|---|
| 1. | Application Open | 06-July-19 |
| 2. | Application Close | 07-Aug-19 at 5pm |
| 3. | Announce shortlisted candidates | 16-Aug-19 |
| 4. | Time for shortlisted candidates to complete Innovation Readiness Course Online and prepare presentation. | 16-Aug-19 to 01-Sept-19 |
| 5. | Interview Selection | 4 to 6 Sept-19 |
| 6. | Announce selected candidates | 9-Sept-19 |
| 7. | Orientation of selected candidates | 16-Sept-19 |
| 8. | Training commences | 17-Sept-19 |
For any Clarification: Please contact 336757/58 during office hours or email us at dhibizap@dhi.bt.
Announcement - Final Shortlisted Candidates