“It is truly heartening to witness the global recognition of entrepreneurship as a potent catalyst for advancement. The Bhutanese participants in the New Enterprise Creation programme exhibited genuine enthusiasm towards acquiring knowledge and translating it into action. Their profound alignment with the programme’s objectives was evident in their receptive learning attitude. I am confident that Bhutan is prepared to embrace a surge of sustainable enterprises in the near future.
This joint initiative by Government of India and Royal Government of Bhutan has effectively sparked fresh perspectives and instilled inquisitiveness among aspiring minds. The youth of Bhutan now possess a refined collection of tools and methodologies, empowering them to lead the charge in creating novel enterprises. Moreover, they are well-equipped to foster the growth of existing small-scale ventures, thereby augmenting the endeavours of policymakers and strategists in propelling the economic development of their nation. I am proud that EDII could be a part of this initiative, contributing to the cultivation of entrepreneurial spirit and the nurturing of innovative endeavours in Bhutan.”
Bhutan, a picturesque country with a high happiness index, depends primarily on small businesses and cottage industries. Given the availability of natural resources and emphasis on entrepreneurship, the Royal Government of Bhutan has particularly started placing an accent on instilling entrepreneurial competencies and skills among the youths of Bhutan.
A paramount objective of the Bhutanese Government is to elevate enterprise creation rates, cultivate essential skills, and amplify economic efficiencies. This endeavour centres on harnessing the vibrant spirit and commitment of the nation’s youth by instilling them with entrepreneurial acumen and knowledge.
The need for nurturing the entrepreneurial ecosystem is more pertinent now because the COVID-19 pandemic has torn apart the dreams and aspirations of scores of potential entrepreneurs.
It is time we gave them the much-needed boost by imparting the right education and providing them with an environment that supports their ongoing growth, upskilling and access to the tools and resources they need to develop their ventures.
In this pursuit, the ITEC Division of the Ministry of External Affairs, Government of India, had partnered with Entrepreneurship Development Institute of India (EDII) in a novel initiative to equip Bhutanese youths with the expertise and drive to embark on journeys as business initiators and cultivators, channelling their boundless energy and enthusiasm.
The Institute curated a specialised training programme on ‘New Enterprise Creation and Skill Upgradation Programme for Bhutanese Youth on Impact Enterprises’ and was addressed to all those Bhutanese youths who may have latent entrepreneurial potential and are willing to take up the challenges of an entrepreneurial career.
The idea was to foster a culture of entrepreneurship by imparting relevant exposure and knowledge alongside developing motivation to take the plunge as entrepreneurs.
During the period spanning September 2022 to February 2023, a series of four specialized programmes were successfully executed, with each programme accommodating a cohort of 25 participants. The primary objective underlying these initiatives was to provide comprehensive training to a total of 100 Bhutanese youths, equipping them with valuable insights and expertise in the realm of entrepreneurship across various thematic domains.
The participants were trained to develop an eye for untapped entrepreneurial opportunities, unexplored markets and were given an understanding of how best they could assimilate technology in their venture.
They were groomed as well-rounded first- generation entrepreneurs with focused inputs on Business Opportunity Guidance, Formulation of Preliminary Business Plan (PBP) and Market Survey, Accounting & Book Keeping for Small Businesses, Business Plan Preparation, Managerial Inputs, Marketing Management, among other domains including taxation and product pricing.
It was indeed heartening to see EDII reaching out to the neighbouring country and helping it strengthen its entrepreneurship ecosystem.
“Setting up a business was always an enigma for me but this programme gave me all the necessary knowledge that broke several myths about entrepreneurship. Bhutan is a resourceful country with several untapped domains. I am so glad I got exposed to this. I feel ready to start my journey as an entrepreneur.” Mr. Dal Bahadur Bhujel (Participant of ‘New Enterprise Creation & Skill Upgradation Programme for Bhutanese Youth on Impact Enterprises’)
“I firmly believe that EDII’s custom-designed programme and instructional approach effectively fulfilled the training needs of the Bhutanese young professionals. The participants exhibited discipline and remarkable engagement throughout the sessions. They seamlessly integrated into the Institute’s environment, displaying a notable enthusiasm for acquiring new knowledge. I extend my best wishes to them for their future endeavors. The support from the Embassy of India, Thimphu, the Royal Government of Bhutan, and the Ministry of External Affairs, New Delhi, played a pivotal role in our successful endeavor to impart India’s developmental expertise to the selected group of 100 Bhutanese youth.”
Contributed by EDII
