Loden Foundation is privileged to seek nominations for the Best Loden Entrepreneur Award 2023. The main objective of the award is to promote the spirit of responsible entrepreneurship in the country where entrepreneurs are committed to their undertaking and benefit society in the process. This award is also to encourage the Loden entrepreneurs to make timely loan repayments as the recuperated funds can then become available for other aspiring entrepreneurs to pursue their hopes and dreams. Thus, the Loden Entrepreneurship Programme (LEP) is enabled to create a cohort of social entrepreneurs who are successful and provide others the opportunity to become successful as well.
The Best Loden Entrepreneur Award is given once every year to a deserving applicant. Only those Loden entrepreneurs who have cleared their loans with the Loden Foundation within October 2020 till September 2023 (THREE YEARS) are eligible for nomination for this particular award. Invitation for nominations have been mailed to eligible entrepreneurs but if anyone eligible has been missed, please write to us immediately. Nominations received after 16th October 2023 will not be accepted.
Eligibility and Selection Criteria:
- The entrepreneur would normally be a Loden entrepreneur but the committee may nominate someone who is not a Loden entrepreneur.
- The entrepreneur must have the associated business active to be eligible for the Loden Entrepreneur Award.
- To meet Loden’s financial viability condition, the entrepreneur must have succeeded to repay the full amount of loan including penalties and produce loan clearance certificate. The entrepreneurs must disclose their liabilities and produce the latest CIB report to that effect.
- The entrepreneur must be currently making significant income from the business.
- To meet the social impact condition, the entrepreneur should be creating jobs/producing import substitutes/giving education, community support/helping people grow intellectually, etc.
- The entrepreneur is culturally sensitive and the business is not only in conformity with cultural practices but also preserves and promotes culture.
- The business is environment friendly and not causing any damage or unwanted changes to Bhutan’s natural ecology
- The entrepreneur is enterprising, co-operative, and has integrity and exhibits traits of a leader in the society
- Disqualification: Those entrepreneurs whose cases have been submitted to court to resolving repayment issues
The selection committee will score the nominees based on a specific matrix and shortlist top three entrepreneurs. Claims stated by nominees in the nomination form must be supported by relevant documents and other evidence.
The shortlisted entrepreneurs will be invited to a LIVE pitching event during the Druk Tshongrig Gatoen 2023 (October 19th to 21st). A panel of judges will score the finalists based on the merits of the nomination forms submitted and the individual’s pitching.
The winner of the award will receive a small token of appreciation along with a certificate and a cash prize of BTN 200,000.
The Loden Foundation invites you to submit your nomination applications to compete for the final selection. In this regard, we request you to fill the Loden Best Entrepreneur Award 2023: Application Form HERE and submit it before 5 PM on 16th October 2023.
Please submit your application before the given deadline. If you have any queries, please contact Karma Losel Yangnyen at 77195599 during office hours.