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Business Idea Competition - Promoting entrepreneurial mindset amongst RUB students

Contact Information
Dorji Lhamo, Sr. Planning Officer
Phone # 17637864
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Business Idea Competition

Promoting entrepreneurial mindset amongst RUB students

As part of the overall entrepreneurship development, the Royal University of Bhutan has initiated discussion with the Institute of Innovation and Entrepreneurship (IIE), Singapore Management University. IIE, SMU is considered a leading institute in the region on entrepreneurship and innovation. A meeting between RUB and IIE was held in May 2021 mainly for RUB Colleges to learn from IIE. The meeting was facilitated by His excellency Mr. George Goh who is a friend of Bhutan and a philanthropist.

In view of promoting entrepreneurial mindset and to inspire students to think business, all relevant colleges have identified business idea competition as one of the crucial activities to be carried out on an annual basis. Therefore, RUB will conduct a business idea competition to come up with the three best business ideas on Thursday 21 October, 2021 at RUB Convention Hall, Thimphu.

Each RUB college has identified their core areas for entrepreneurship based on their area of specialization. Following are the identified areas:

  1. Technopreneurs
  2. Ecopreneur
  3. Engipreneur/Archipreneur
  4. Agripreneur
  5. Culturepreneur
  6. Entrepreneur (general)

Objectives:

  • Promoting entrepreneurial mindset amongst RUB students
  • Support winners of the idea competition establish their businesses
  • Interact with the policy makers, international partners, CSOs, entrepreneurs and other relevant agencies to understand the national direction, current situation and mor importantly enhance the existing network and support that the RUB have with these organizations.

HE Mr Goh will sponsor prize money of Singapore $ 10K each to three best business ideas from RUB students. In addition to the support received from HE Goh, DoEHR, MoLHR has agreed to provide fund support to meet the administrative and logistic cost for the event.

Modus Operandi for the Business Idea Competition

The competition is planned in two phases.

  1. In the first phase 9 RUB colleges (including RTC and NRC and excluding two Colleges of Education) will organise a college level business idea competition to select the best business idea. This is proposed to be complete by the end of August 2021.
  2. The Colleges will encourage students to choose business ideas based on their areas of specialization. However, other compelling business ideas which may be outside their areas of specialization may also be considered. This may be spelled out in the evaluation criteria.
  3. In the second phase which is scheduled towards the end of October 2021, the winning teams from the 9 colleges will pitch their ideas to a panel of external Jury. A common pitch deck shall be used for presenting and evaluating the business ideas.
  4. The top three winners will be awarded SD 10,000 each. An upfront cash prize of Nu. 30,000 each will be also awarded to the three winners which will be met from the internal fund of RUB. The full amount (of Singapore Dollar 10,000) will be disbursed during the stage of incubation and starts setting rolling out the business.

Juries for the competition:

A panel of jurors shall consist mainly of practicing entrepreneurs and representative from relevant agencies and entrepreneurs. Following are the four jurors/evaluators of the competition:

  1. Rikesh Gurung, CEO, Green Roads.
  2. Karma Younten, CEO, Greener Ways.
  3. Kinley Pelden, CEO, Yiga Chocolates.
  4. Tashi Zangpo, Curriculum Development Officer, Royal Education Council, Ministry of Education

Refer Concept note on the Business Idea Competition for more details.

Royal University of Bhutan Business Idea Competition (Organized by Center for Business Research and Entrepreneurship Development, Gedu College of Business Studies) 21 October, 2021 at the Office of the Vice Chancellor, RUB, Lower Motithang  

Programme

9.30 - 9.45 AM

Registration

10.00 – 10.05 AM

Welcome Remarks

Coordinator, Entrepreneurship Development Cell (EDC), Center for Business and Entrepreneurship Development (CBRED), Gedu College of Business Studies (GCBS), Royal University of Bhutan

10.15 – 10.25 AM

Keynote Address: His Excellency’s personal Journey as an Entrepreneur

His Excellency George Goh, Founder, Border Mission Limited, Singapore

10.25 – 10.30 AM

Keynote Address: National Direction on Entrepreneurship Development

The Hon’ble Minister, Lyonpo Karma Dorji, Ministry of Labour and Human Resources

10.30 - 10.35 AM

RUB and its role in Entrepreneurship Development:

-       Entrepreneurship as a theme of development in RUB: developing entrepreneurship culture and mindset in students

-       CBRED, GCBS a Think Tank for Entrepreneurship Development in Bhutan 

Dean of Research and Industrial Linkages, Gedu College of Business Studies

10.35 – 11AM

Suja Dresi – Break  

11.00 – 11. 30 AM

RUB Business Idea Competition 2021:

-       Background, criteria

-       Introducing the Panel of Judges, criteria and Order of Business for the Competition

-       Background of the Business Ideas (in gist) from the 9 Colleges of RUB

Coordinator, EDC, CBRED, GCBS

11.30 – 1.00 PM

Business Idea Pitches

Coordinator, EDC, CBRED, GCBS

1.00 – 2.00 PM

Lunch Break

2.00- 3.30 PM

Business Idea Pitches

Coordinator, EDC, CBRED, GCBS

3.30 –3.40PM

Meeting of the Panel of Judges and Collation of Results

Coordinator, EDC, CBRED, GCBS

3.40 - 3.55 PM

Declaration of Results & Prize Award

The Hon’ble Minister, Lyonpo Karma Dorji, Ministry of Labour and Human Resources

3.55 – 4.00 PM

Way Forward – incubation and business scaling

Dean of Research and Industrial Linkages, Gedu College of Business Studies

4.00 - 4.05 PM

Vote of Thanks

Business Development Officer, DPR

4.05 – 5.30PM

Closing Tea

-       Interaction with Media

-       Networking session