Thimphu Tech Park Expansion Begins

Thimphu TechPark begins work to expand its infrastructure with the ground breaking ceremony (Salang Tendrel) for a new building on a five-acre land that has been leased to the Park.

Ground breaking ceremony (Salang Tendrel) for a new TechPark Building (Source: Lyonpo DN Dhungyel Facebook account)

 

Fully leased out to seven FDI companies, Thimphu TechPark begins work to expand its infrastructure with the ground breaking ceremony (Salang Tendrel) for a new building on a five-acre land that has been leased to the Park.

The seven FDI companies from US, Canada, Australia, Switzerland, Bangladesh, and India and BITC employs about 745 Bhutanese youth according to Chief executive officer, Tshering Cigay Dorji (PhD).

New Techpark will create employment opportunities for youth

Earlier this year, the Ministry of Information and Communications (MoIC) has announced that another Techpark will be set up by 2019. This is geared towards addressing unemployment in the country through Information and Communications Technology. The plan was highlighted at the 3rd ICT Conference held in Thimphu on 16 Oct 2017. 

DN Dhungyel, the Information and Communications Minister said that the present Techpark, Thimphu Techpark, has not just become a source of employment but revenue as well. Currently, the facility employs more than 800 youth and contributes Nu 180 M to the economy annually.

TechPark also consists of Bhutan Innovation and Technology Centre (BITC) – a business incubation centre, a data centre and a shared technology centre on the ground floor. The seven FDI companies and BITC employs about 745 Bhutanese youth according to Chief executive officer, Tshering Cigay Dorji (PhD).

Promoting entrepreneurship and innovation in Bhutan

Information and Communications Minister, DN Dhungyel, said that BITC plays a crucial role in promoting entrepreneurship and innovation in the country by providing entrepreneurship trainings and conducting events such as the Business Idea Competition of Bhutan and Startup Weekend.

 

 

The new building is expected to create employment opportunities for an additional 300 Bhutanese youth. Druk Holdings and Investments (DHI) is funding the building’s construction for about Nu 77 million (1.18 million USD). The new building would be about one-third the size of the existing structure. Construction Development Corporation Limited is expected to complete the construction by June 30, 2019.

The government has also set aside another 13 acres of land for further expansion of the IT Park in near future.

The startup ecosystem in Bhutan

Tshering Cigay Dorji said that the success of the first IT Park has shown that investing in these kinds of initiatives would help create employment opportunities for youth, and earn foreign exchange for the country. 

Thimphu TechPark has been instrumental to the development of the startup ecosystem in Bhutan. Through out the year, the TechPark organises Basic Entrepreneurship Course and collaborate with Techstar on Startup Weekends, the most recent one focusing on Eco-tourism in November 2017.  

 

By Karma Cheki (This article has been edited for the New Bhutan Times)

This article first appeared on Kuensel.


Related Posts

Thimphu TechPark aims to attract foreign investment

The main mission of the company is to attract reputed IT/ITES companies from both within Bhutan and around the world to...

Oct 01, 2017 17:37

Another Techpark in Bhutan by 2019

The Ministry of Information and Communications (MoIC) will establish another Techpark by 2019. This is geared towards...

Oct 17, 2017 09:38

Techstars Startup Weekend Bhutan (Eco-Tourism): 54 Hours where...

The eventful weekend saw 130 keen people in attendance, of which 56 pitched ideas. This was the fifth time that such an...

Nov 29, 2017 08:46

Fish Centre Needs More Trout Feed

Mr Singye Tshering said there is a high demand for fish in the country and it is important to promote the culture among...

Jan 20, 2018 09:23

Farmers in Samtse Ready To Reap Quinoa

Farmers in Samtse are gearing up to harvest quinoa, a new crop which they started cultivating on a small scale as a...

Jan 18, 2018 07:18

Year Round Shiitake Mushroom Cultivation in Bhutan

An entrepreneur in Bhutan invents solar and electric incubator for year round Shiitake mushroom cultivation.

Jan 12, 2018 13:33

Latest

News

Bhutan Achieved 93% Youth Literacy Rate

93 percent of the students attend public schools, but the proportion of students attending public school decreases at higher education...

Jan 13, 2018 11:50

Japan Provides 353 More Power Tillers

The Ambassador of Japan to Bhutan, Kenji Hiramatsu handed over 353 sets of power tillers and accessories worth Nu 137 million to the...

Jan 11, 2018 14:18

Features

Green House Initiative Benefits Highlanders

“With the introduction of green houses in the region, it’s much more convenient and cost saving for us because we don’t have to purchase...

Jan 21, 2018 13:50

Accreditation Of Colleges in Bhutan

An institution is graded on six core elements such as the curriculum, research and innovation, institutional linkage, management,...

Jan 16, 2018 11:05

Sports

Air Pistol Shooting in Bhutan

“I saw the sport on television. I did not know that it would be an interesting experience. It helps us improve breathing and concentration....

Jan 14, 2018 10:44

Martial Arts Gaining Popularity with Bhutanese Youth

The President of BIMA, Damber Singh Rai, said that the programme is aimed at engaging students during the winter break. “It is an exercise...

Jan 06, 2018 08:58

Business

Fish Centre Needs More Trout Feed

Mr Singye Tshering said there is a high demand for fish in the country and it is important to promote the culture among people.

Jan 20, 2018 09:23

Farmers in Samtse Ready To Reap Quinoa

Farmers in Samtse are gearing up to harvest quinoa, a new crop which they started cultivating on a small scale as a pilot project last year.

Jan 18, 2018 07:18

Travel

Duenmang Tshachu – A Popular Hotspring Known for its Healing Properties

Gothpo, 76, who has visited the tshachu, said that the Kheng Duenmang tshachu is a renowned hot spring with 'great healing powers'.

Jan 19, 2018 11:17

Snow Leopards – Ghosts of the Mountains

Called “ghosts of the mountains” by the Himalayan people because of their ability to mysteriously appear and disappear with equal stealth,...

Jan 17, 2018 10:30

Lifestyle

Reading Culture In Bhutan Improving

The public library has initiated a mobile bus book every Saturday for an hour and every Sunday for three to four hours making books...

Jan 22, 2018 07:40

Gyalsey, the Legacy of a Prince

In the 15 years of my life, the funniest yet saddest movie I have ever watched is Gyalsey, the legacy of a prince. Aired first in 2012, this...

Jan 09, 2018 07:10

Subscribe to our newsletter

Never miss out on new happenings and news stories!