Bhutan’s First Entrepreneurship Festival Held In Thimphu To Foster The Spirit Of Innovation
A book entitled “Entrepreneur Stories” was also launched at the opening of the festival. The stories are expected to encourage young Bhutanese to become entrepreneurs.
By Pema Seldon Tshering | BBS
Some 30 entrepreneurs from across the country gathered at the Clock Tower Square in Thimphu for the first-ever entrepreneurship festival Druk Tshongrig Gatoen.
The three-day festival which opened on 25 Oct saw various made in Bhutan products on display. A book entitled “Entrepreneur Stories” was also launched at the opening of the festival. The stories are expected to encourage young Bhutanese to become entrepreneurs.
Source: Loden Foundation
The festival was organised by the Loden Foundation in collaboration with the United Nations in Bhutan, the MinistrY of Labour and Economic Affairs, Tech Park, Bhutan Chamber of Commerce and Industries (BCCI) and the Rural Enterprise Development Corporation Limited (REDCL) were also involved.
Aims of the entrepreneurship festival Druk Tshongrig Gatoen
A Development Manager with the Loden Foundation, Phuntsho Namgay said that the festival is aimed at encouraging and promoting the emerging culture of entrepreneurship in Bhutan.
It is also meant to expose young Bhutanese to the entrepreneurship world, raise awareness on entrepreneurship, and empower and educate the country’s upcoming generation of potential entrepreneurs.
“The fair is not only for the entrepreneurs to come and display their products, but to use this opportunity to discuss and mingle with other entrepreneurs who bring in other relevant skills, and then try and collaborate and work together,” he said.
The Loden Foundation said that 17 sessions on entrepreneurship would be given to more than a hundred young Bhutanese over the three-day event.
“The other objective is to provide a space for entrepreneurs, aspiring entrepreneurs, policy makers and service providers to come together and deliberate on important issues that are faced by emerging entrepreneurs in the country,” Phuntsho Namgay added.
Challenges faced by entrepreneurs in Bhutan
Lack of business space remains one of the major challenges faced by entrepreneurs in the country.
Pelbar Natural Soap
Source: That Happiness Shop
“We find it hard to find a space to run our business from. We are based in Thimphu. Even if we find a space, the rents are very high,” Sonam Tshering, the Owner of Pelbar Soaps said.
There are other challenges as well. Kinley Penjor of Nutri Food Products said that the high cost of production is a major challenge he is faced with.
“It’s been only a month since I started my business. The raw materials are very expensive, which takes the production cost up and we struggle while pricing the products,” he said.
This article first appeared in BBS and has been edited for the Bhutan Times.