Call for Business Proposals for Loden Entrepreneurship ProgrammePosted on: May 29th, 2015
The Loden Entrepreneurship Programme is a business education project of the Loden Foundation which aims to train and support young Bhutanese men and women in entrepreneurial business ventures. It was launched in 2008 to help young people realize their dreams by providing them training, moral and technical support and initial funds to start new business enterprises. By helping young people to be self-starters in business enterprises, the LEP hopes to cultivate entrepreneurial skills in the youth, create employment and promote a self-sufficient economy.
The size of the fund will range from Nu. 100,000 (one hundred thousand) to Nu. 1,500,000 (one and half million ngultrum but the amount offered will depend on the proposed business project. We have a policy to support only businesses which are ethical and culturally and ecologically conducive for Bhutan. Businesses which can generate employment and are located outside Thimphu are encouraged.
The business applications will be evaluated by an independent panel of judges comprised of international and local business experts and members of the LEP board. About one-fourth of the applications will be shortlisted for interviews by the end of September 2015. The interview of the shortlisted applicants will take place at the Loden office in Thimphu sometime in the middle of November, 2015. Loden will disburse interest-free loans to the selected candidates soon after the final results are announced upon fulfilling necessary prerequisites.
The selected applicants will be asked to sign a contract agreement with the Loden Foundation and also present a guarantor. The fund is normally paid directly to the source of the equipment or such other services for which the fund is used. If it is paid directly to the bank account of the business, it will be disbursed in two tranches and the second tranche of the loan shall be made upon the receipt of the proper use of money received in the first tranche and with positive recommendation from the project monitoring team from Loden.
Mentoring support shall be provided to the selected entrepreneurs to support the progress of the enterprise and the appropriate use of the funds. Once the business started, the entrepreneurs shall submit a short monthly progress report to his/her mentors and shall submit a detailed written report to Loden Office every six months. The entrepreneurs is normally given a grace period of six months and required to pay back the whole amount within three to five years time depending on the size of the loans.
The interested applicants aged between 25 to 40 must submit:
- A detailed business plan click here to view guideline for business planning
- Curriculum Viate
- Cover letter explaining why you are interested in this business
Please send the electronic copy of your documents to firstname.lastname@example.org and printed copy to the Loden Foundation, Post box 131, Thimphu by 28 August, 2015. Further details about this programme can be obtained by writing to email@example.com or calling 02-332006 during the office hours.