DILI, 03 june 2022 (TATOLI) – Fifteen young entrepreneur groups have been selected by the Ministry of Tourism, Trade, and Industry (MoTTI) and the United Nations Development Program (UNDP) to receive grant funding and technical assistance from the government of Timor-Leste to run their business.
The 15 young entrepreneur groups were selected out of many groups who competed in the Business Innovative Challenge (BIC) Competition II, organized by MoTTI and UNDP.
To realize the BIC Competition II, the Government of Timor-Leste, through the MoTTI allocated US$ 100.000, of which US$95.000 would be given to the 15 groups as grant funds to run their business, and US$5.000 would be awarded to the top three winners of the competition as prizes.
After a tough competition, Feto Ela Sabaun Group was classified as the first winner, Bumbu Kaldu Timor finished as runner-up and Tentons Kafe Dalan Ninin became the third-place winner.
Feto Ela Sabaun Group, the first-place winner received US$2.250. Meanwhile, Bumbu Kaldu Timor, the runner-up got 1.500, and Tentons Kafe Dalan Ninin received US$1.250, as the third-place winner.
UNDP’s representative in Timor-Leste, Munkhtuya Altangerel, said the support will help young entrepreneurs with innovative project ideas to run their businesses by producing their products to respond to the local market demand.
Altangerel expressed her appreciation for the initiative of the creation of the Youth Business Innovation Challenge (BCI) Competition II by the MoTTI and relevant entities.
The Minister of Tourism, Trade, and Industry, José Lucas do Carmo da Silva said young people have the ability to create job opportunities to be self-employed and even employ other people: “Thus, the Government provides funds to invest in innovative business activities.”
“The Government wants to promote and develop young people innovative skills,” Minister Silva said at Dili Convention Center.
The first-place winner, Erfina Amaral Soares from Grupo Feto Ela Sabaun, thanked the Government and UNDP for the realization of the competition to promote young entrepreneurs: “We transform coconut oil into soap. Our group consists of six women. I call on young people who have brilliant business ideas to prepare themselves to compete in the next Business Innovation Challenge (BCI) Competition in 2023,” she said.
The amount of the grant fund is varied among the 15 groups depending on their innovative project ideas.
No Grantees Types of Business Grants Awarded
1 Juvita Fernandes Timor Spice Broth US$7.925,00
2 Monte Group Local Product US$7.020,52
3 Hyutmeran Nasae’h Product Collection US$7.100,00
4 Afocal Pig Fam Pig Farming US$4.500,00
5 Tenton’s Kafe Dalan Ninin Coffee Shop US$5.050,00
6 Aimanas Belimbi DAF Starfruit sauce US$2.487,00
7 GPL – Grupu Produtu Lokal Local chicken farming US$7.685,48
8 Pedro de Jesus Tai Local chicken farming US$5.589,00
9 Grupo Feto Ella Sabaun Lokal Local Soap Production US$4.264,00
10 Grupo Kafe Lafaek Coffee Shop US$6.840,00
11 Grupo Agrikultura Beraka Horticulture US$6.700,00
12 Essenzo Oilau Oil therapy production US$6.740,00
13 Dujoroventusune Local Egg Production US$8.255,00
14 Media Mundasa Multimedia US$8.554,00
15 Skyra Coffee Shop Coffee Shop US$6.290,00
Grant Funding US$95.000
Competition Prizes US$5.000
TOTAL Grant Funding US$100.000
Journalist: José Belarmino De Sá
Editor: Nelia Borges
