The Department of Employment and Entrepreneurship, would like to announce the opening of applications for vacant incubation spaces at Thimphu Changzamtog Start up Centre. The application will remain open until 25/01/2025.
Eligibility Criteria/Terms & Conditions:
To apply for the incubation space, applicants must meet the following requirements:
- Applicants must not have previously availed space at the Startup Center.
- New business idea that addresses specific business pain(problem)
- Applicants must have Minimum Viable Product (MVP) of start up business idea; purely ideation-phase businesses will not be considered.
- Business ideas must not replicate existing ventures at the Startup Center unless the applicant demonstrates 40% value addition.
- Proposals for trading, services, shops, institutes office set up etc. in nature that do not meet intended start up centre objectives and purposes will not be considered.
- Applicants must achieve a minimum average score of 65% during the business pitch to be considered for final selection and approval by SUC Committee.
- Final selections will be made by the Startup Center Committee (SUC) based on merit ranking.
- Applicants who met the threshold and selected on merit but cannot be immediately accommodated will be placed on a waiting list if wished to wait for empty space.
- Applicants if selected should be able to sign a pledge to the Startup Center’s for active participation in events, business development sessions, and proper utilization of allocated space and others in line with the start up centre guidelines.
Shortlisting and Selection Process:
- The DoEE to form one-time committee to scrutinise the shortlisting process. Only Shortlisted candidates will be notified for business pitching.
- Include a separate detailed personal profile highlighting skills, traction, experiences and achievement milestones(if any)
- Business Pitch Deck: a 10-minutes pitch (5 minutes for presentation and 5 minutes for Q&A).
- A business pitching power point presentation is mandatory.
Some important evaluation metrics besides others to look at during business pitching;
- Feasibility, desirability, and viability of the business idea
- Applicant’s investment and business track record.
- Clear ownership, partnership, and funding structure on the business idea
- Competency, knowledge, and skills of the applicant(s)
- Business model and strategy
- Business Unique value proposition
- Market study on business idea
- Risk assessment
- Alignment with Gross National Happiness (GNH) principles and promote social entrepreneurship.
Note:
The duly filed application form along with valid business license and relevant supporting documents can be emailed to epd@moice.gov.bt/sgyeltshen@moice.gov.bt/yudentshering49@gmail.com or submitted in hardcopy to the Changzamtog Start-up Centre Office on or before 15thJanurary , 2024 during office hours.
Click here to down load application form…
For more information, contact us at:
📞 02-330747/02-330748
Email epd@moice.gov.bt
