Loden Foundation is privileged to seek nominations for the Best Loden Entrepreneur Award 2024. 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 2021 till September 2024 (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. Applications received after 20th October 2024 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 2024 (October 27th to 28th). A panel of judges will score the finalists based on the merits of the nomination forms submitted and the individual pitching.
The winner of the award will receive a small token of appreciation along with a certificate and a cash prize of Nu. 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 2024: Application Form and submit it by 5 PM on 20th October 2024.
Please submit your application before the given deadline. If you have any queries, please contact Monika Limboo at 77195599 during office hours.