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BUSINESS, NATIONAL, DILI

MoTTI and UNDP organize Youth Business Innovation Challenge competition II

MoTTI and UNDP organize Youth Business Innovation Challenge competition II

(Photo Tatoli/Francisco Sony)

DILI, 30 may 2022 (TATOLI) – The Ministry of Tourism, Trade, and Industry (MoTTI), together with the United Nations Development Program (UNDP) organized Youth Business Innovation Challenge (BCI) competition II.

BIC Competition II is a competition for young Timorese people with innovative project ideas to receive grant funding and technical assistance from the government of Timor-Leste to run their business.

So, the main objective of the BIC is to encourage youths to come up with different, unique, and innovative ideas related to social business from various sectors (agriculture, fisheries, tourism, manufacturing, food production, technology, and other sectors that has high economic value and contribute to solving communities’ problem).

More than 200 applicants applied for the Business Innovation Challenge Competition II and only 51 applicants passed the selection documentation process to proceed to the next stage called Pra-Bootcamp.

Francelion Guterres, Manager of the SEAWAY Project said that after competing in the Pra-Bootcamp stage, only 25 applicants were selected to compete in the semi-final or Bootcamp stage.

The Bootcamp will be a 4-day event, including a 3-day capacity building for applicants by creating a safe space for failure and improvement and learning how to deliver an impactful presentation and semi-final pitching, and a 1-day National Youth Forum.

The Bootcamp stage is set to take place from may 30 to june 1, 2022.

Guterres said the purpose of the Bootcamp during the 3-day training was to prepare the selected 25 participants for the semi-final pitch and final pitch at the National Youth Forum. They will attend intensive business presentation training as well as other business workshops to be the best prepared.

The training consists of a combination of workshops, peer-to-peer learning, mentorship sessions, and individual working time, with several mock presentation sessions.

The National Youth Forum is where participants, together with the Government, private sector, non-government organizations, and academia will communicate and collaborate to determine challenges, priorities, and solutions for improved innovation and entrepreneurship eco-system in Timor-Leste and final pitching by the eight most promising teams from the Bootcamp.

Business Innovation Challenge is to encourage the strong establishment of Micro Small Medium Enterprises through the support of equipment according to the activity of their businesses. It creates job opportunities by strengthening the entrepreneurship, innovation ecosystem, and youth involvement in supporting the economic development of the country.

In addition, it also helps achieve the Sustainable Development Goals No. 9 Industry, Innovation, and Infrastructure; and SDG number 8 Decent Work and Economic Growth.

This Innovative Competition program is implemented between MTCI, and UNDP, including Technical Training Centers that provide maintenance services for equipment and professional training.

 

Journalist: Filomeno Martins 

Editor: Nelia Borges 

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