ANNOUNCEMENT FOR DHI BUSINESS ACCLERATION FUND

As part of DHI's mandate to "Lead and stimulate private sector development through a culture of innovation, creativity and enterprise', DHI is required to "promote and encourage entrepreneurship and business development through venture capital and other required institutional support". Towards this, a holistic approach to entrepreneurship development was initiated by DHI mainly to promote enterprise in Cottage and Small Industry (CSI) sector in Bhutan. The DHI Business Acceleration Program (DHI BizAP) launched on October 13, 2018 consists of high-level structured business training, funding, mentoring, and monitoring and evaluation. 

To ease the access to financing needed for accelerating and expanding the business, DHI has established a DHI Business Acceleration Fund to provide collateral free, interest free financing for the entrepreneur's contribution to their business. DHI will be providing funding support to existing entrepreneurs, as access to finance is considered as one of the major constraints for entrepreneurship in Bhutan.

 

Funding Details

DHI will provide a maximum amount of Nu.500, 000 with an administrative fee of 5% per annum to each entrepreneur that gains approval from the DHI Business Acceleration Funding Panel. DHI will not expect any interest or collateral from the entrepreneur and DHI will not hold any ownership in their businesses.

 

How to Apply?

  1. Businesses must fall under the Cottage and Small Industry category (any business with less than total Nu.10 Million) to apply.
  2. Business must have a valid Business License in applicant's name.
  3. Download and fill the Application Form.
  4. Either email the filled application form with other supporting documents to dhibizap@dhi.bt OR submit it to Enterprise Development Unit, DHI during office hours.

 

Note:

  1. Applicants are advised to read and ensure they fully understand all related instructions before completing the application form.
  2. Applicants are to note that submission of incomplete documents may result in application not being processed.
Application Period:
Sl. No. Activity Date
1.   Application Open   15-April-19
2.   Application Close   30-April-19 at 5pm
3.   Announce shortlisted candidates   6-May-19
4.   Funding Presentation   14-16-May-19
6.   Announce selected candidates   After Due Diligence

 

For any Clarification: Please contact 336757/58 during office hours or email us at dhibizap@dhi.bt.

REQUIRED DOCUMENTS:

  1. DHI Business Acceleration Fund Application Form (Download)
  2. Business Proposal (Annexure I)
  3. Copy of valid Citizenship Identity Card.
  4. Two professional recommendations or customer testimonials (Annexure II)
  5. Copy of CV of the entrepreneur and team members.
  6. One recent Passport size photograph of the entrepreneur.
  7. Copy of valid business license
  8. Copy of online CIB report (credit history) to be sent to DHI via CIB.
  9. Valid online security clearance certificate.
  10. Financial statement of the business for the past two years.
  11. A recent tax clearance certificate from the Department of Revenue and Customs.