𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐭𝐨 𝐋𝐚𝐮𝐧𝐜𝐡 𝐍𝐮 𝟒 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬𝐡𝐢𝐩 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬

…𝑵𝒆𝒘 𝒑𝒓𝒐𝒈𝒓𝒂𝒎𝒔 𝒕𝒐 𝒃𝒐𝒐𝒔𝒕 𝒄𝒂𝒑𝒂𝒄𝒊𝒕𝒚 𝒃𝒖𝒊𝒍𝒅𝒊𝒏𝒈, 𝒆𝒂𝒓𝒍𝒚-𝒔𝒕𝒂𝒈𝒆 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒏𝒈, 𝒂𝒏𝒅 𝒓𝒆𝒈𝒖𝒍𝒂𝒕𝒐𝒓𝒚 𝒓𝒆𝒇𝒐𝒓𝒎𝒔 𝒇𝒐𝒓 𝒔𝒕𝒂𝒓𝒕𝒖𝒑𝒔

By Kezang Choden

The government will soon roll out the Bhutan Entrepreneurship Program and the Bhutan Entrepreneur Fund, two major national initiatives backed by more than Nu 4 billion in initial funding. The announcement was made by Lyonpo Namgyal Dorji during the Global Entrepreneurship Week 2025, observed under the theme “Together We Build.”

Introducing the initiatives, Lyonpo Namgyal Dorji said the theme highlights the need for a united effort from the government, the private sector, development partners, and Bhutanese entrepreneurs to shape the nation’s future. He added that Bhutan’s entrepreneurial spirit continues to draw inspiration from His Majesty The King, whom he described as “the greatest entrepreneur among us.” He said His Majesty’s vision for the Gelephu Mindfulness City (GMC) represents the country’s boldest national undertaking and stands as a “national startup” defined by courage, innovation, and the ambition to compete globally.

According to the minister, the Bhutan Entrepreneurship Program and the Bhutan Entrepreneur Fund aim to address two key challenges faced by Bhutanese entrepreneurs. These challenges are the need for world-class training and the need for access to early-stage financing. Over the past year, the Ministry of Industry, Commerce and Employment has been working with a leading Silicon Valley venture capital firm that manages multi-billion-dollar assets and has invested in thousands of startups, including more than 35 unicorns across 80 countries. The partnership is expected to open the door to global mentorship and networks that were previously out of reach for Bhutanese startups. Lyonpo confirmed that all negotiations and paperwork have been completed and that the official launch will be announced soon.

He also noted that significant funding is already being directed toward entrepreneurs. Under the Economic Stimulus Program, Nu 600 million has been earmarked for startups, while more than Nu 500 million has been disbursed through the YELP program. A further Nu 3.5 billion in concessional loans has been released through financial institutions. The Bhutan Development Bank Ltd has received 3,969 applications to date, approving 2,314 and declining 1,655. Current financing windows include agriculture and livestock loans of up to Nu 1 million, cottage and small industry manufacturing loans of up to Nu 10 million, and medium industry loans of up to Nu 100 million.

However, the minister stressed that financial support alone is not enough. Structural reforms are needed to strengthen the country’s business environment. Over the past year, MoICE and the Bhutan Chamber of Commerce and Industry (BCCI) carried out one of the largest regulatory reviews in recent years, identifying 210 barriers. Of these, 123 have been resolved, 26 require Cabinet decisions, and 59 are being reviewed by relevant agencies.

A separate Cabinet review found that many challenges stem from decades of accumulated rules and notifications. Ministries and agencies were instructed to submit all business-related regulations for review, bringing the total number of regulations under scrutiny to 955. The minister said the government and private sector will meet next week to begin a detailed examination of each regulation. The review will determine which regulations should remain, which should be amended, and which should be removed.

He emphasized that this will be a genuine reform and not a symbolic exercise, with the goal of creating a regulatory environment that fosters innovation and supports emerging businesses.
Marking Global Entrepreneurship Week, Lyonpo Namgyal Dorji said Bhutan stands at a promising moment in its national journey. Visionary leadership, ongoing reforms, and a growing generation of young innovators are converging to shape the country’s future.

“The government will clear the path,” Lyonpo said. “But it is you, our builders and innovators, who must walk it first so that together we define Bhutan’s next era of prosperity.”

Kuenzang Jamtsho, a 22-year-old self-taught digital creator from Rangjung in Trashigang, is steadily making his mark in nation’s growing tech and innovation landscape. In late 2024, he co-founded iDesign, one of the country’s first digital fabrication startups, together with his friends. The venture began with a simple vision to introduce digital making and design services to local communities, and to inspire young people to explore creative technology.

Like many emerging startups, iDesign has faced significant challenges from the beginning. Kuenzang said their biggest hurdle has been a lack of financial resources. The team could not afford to invest in machinery beyond a single 3D printer, which has limited the expansion of their products and services. He said this reality slowed their progress and made it difficult to diversify their work.

Despite these challenges, Kuenzang believes the experience has pushed them to grow in ways that money alone could not. He said the constraints taught them to be more determined, creative, and proactive in solving problems. The team relies on innovation, careful planning, and resourcefulness to make the best use of what they have. He said he remains committed to building a space where young creators can learn, design, and bring new ideas to life.

The programme is expected to play a key role in strengthening Bhutan’s startup ecosystem by providing a combination of training, mentorship, and funding support. He mentioned that the initiative is designed to help young entrepreneurs build the confidence to take risks, develop sustainable business ideas, and contribute to job creation across the country.

With many young people exploring entrepreneurship as a career path, the programme aims to give them the skills and resources they often struggle to access. “Entrepreneurs who are preparing to apply said government funding would make the greatest difference, especially for those who lack the early capital needed to start or expand their ventures,” he stated.

He highlighted that learning the basics of business management and receiving guidance on strategy, networking, and financing would help them make informed decisions and avoid common challenges faced by new businesses. Many believe the programme will create a stronger environment for innovation and encourage more youth to pursue entrepreneurship as a long-term opportunity.