DILI, 26 august 2022 (TATOLI)– Executive Director of the Institution of the Support for Business Development (IADE), Filomeno Marcelino Belo said ten young Timor-Leste (TL) passed the Innovative Business Plan competition in the field of Tourism.
“We hold annual competitions for innovative businesses in several areas. This year we chose the tourism sector. Young people need to participate in competitions. We are now in the phase of mentoring ten qualified youths”, Director Filomeno told Tatoli in Bebora, Dili.
Belo said 239 young Timorese has registered in the Innovative Business plan that was launched by IADE in February this year. Of the total number, only ten people were selected to participate in the competition that will take place on September 22 at Timor Plaza, Dili.
He said the IADE team assisted the ten young people in making a business plan to participate in the final competition. The judges in the competition consisted of businessmen, academics, and professionals working in banking institutions.
Currently, the IADE has ten young people in the competition, but only three will be selected as winners and will award cash prizes and certificates.
“We prepared the fund worth $22,500. the $15,000 for three winners. In the competition, the first winner will receive $6,000, the second 5% and the third will receive $4,000″, he added.
Filomeno also informed that this year there was $40,000 in the (State Revenue and Expenditure Budget) for the competition. Meanwhile, the Santos Company and Timor Telecom company keep providing $25,000 and $20,000, respectively.
Journalist: Jose De Sa
Editor: Nelia B
