Bhutan New Venture Challenge (BNVC), 2020.

Entrepreneurship and Self-Employment Division of Department of Employment and Human Resources under Ministry of Labour and Human Resources is conducting “Bhutan New Venture Challenge (BNVC), 2020.

In brief BNVC is a program to promote entrepreneurship and facilitate start-ups through a competitive business idea competition like format. This year we have created a separate category for students. This is done to emphasize promotion of entrepreneurship among the students. Considering that the unemployment rate for youth stands at 11.9% as of 2019 which is unlikely to drop in the following years to come provided the current pandemic. Entrepreneurship is arguably seen as one of the solutions to solve the youth unemployment issue and bring economically desirable outcomes. Therefore, it is only pertinent that entrepreneurship be promoted with special focus to students especially college students as an alternative career option. Ideally, students who participate in the program stand a chance to establish their business unit within the institutes premises if possible and experience entrepreneurship first hand. This will not only provide them useful skills such as entrepreneurial competencies which they may require later in life but this also provides an opportunity for the students to develop interest in entrepreneurship and consider it as an alternate career option. We are also looking at possible participants who can go on to represent the country at international business idea competition, if the entries are good.

We are looking at the following prizes:

Top 10 business ideas: Cash prize of Nu. 100, 000.

In this regard, we would ideally like to solicit your support in promoting this program among your students and to encourage students to participate in the program under the student category. We would further like to request your kind self to promote the program by uploading the links on your college’s website and social media accounts. Further, participation in this program will also allow your students to showcase their creativity,develop their entrepreneurial competencies and stay productively engaged in-addition to their academic activities.

Please note that most of the key activities will be conducted online for BNVC.

We understand that the current situation is not the best for such co-curricular activities but we are hopeful that you will see the brighter side of this program in benefitting your students in the long run. Further, in pursuit of promoting the traditional craftsmanship it is evident that your students participate in this program and illustrate their business ideas and provide the stimulus to eventually start up their own businesses in their skill of expertise.

Link for the program at MoLHR’s website: https://www.molhr.gov.bt/molhr/?p=33702#more-33702
Direct Link to apply: https://forms.gle/B6KWia44qDVqbYoj7