DILI, 17 June 2025 (TATOLI) – The Ministry of Commerce and Industry (MCI), in partnership with the United Nations Development Program (UNDP), launched the “Path to Business” – fifth batch of the Business Innovation Challenge (BIC) – at the Ministry of Commerce and Industry building, Mandarin-Dili, Timor-Leste.
The fifth implementation period of the BIC was launched by Nino Pereira, Minister of Commerce and Industry, with the Directorates attending the commencement event.
As a joint initiative organized in collaboration between the National Directorate of MSMEs and the Youth Employment and Entrepreneurship Skills (YEES) Project, the BIC is a business incubation program designed to help youth refine and implement their business ideas. Since its inception in 2021, the BIC has supported numerous young entrepreneurs with technical training and access to funds, contributing to employment creation and economic diversification. Over 300 youth groups received grant and equipment support worth more than $1.7 million, up to date.
This year’s BIC, with the theme of “Promoting Economic Diversification and Innovation to Strengthen and Ensure Sustainability through Support for Micro, Small and Medium Enterprises (MSMEs),” calls for young entrepreneurs in key sectors of Agriculture, Industry, and Tourism to transform their businesses in the path towards business viability and innovation.
Moreover, the BIC 5 introduces selected areas of differentiation from the previous batches to ensure impactful support for Timorese entrepreneurs. In addition to the sectoral targeting of the three industries mentioned above, this year’s BIC places a stronger focus on incubating sustainable businesses across 13 municipalities. The expansion of the eligible age range and the inclusion of youth from rural areas and other marginalized communities are also distinctive aspects expected to accommodate a broader group of prospective youth entrepreneurs.
Applications for the fifth batch of the BIC opened on 17 June and will continue until 4 July. Interested individuals and groups can apply online via Google Forms (https://rb.gy/717uom) or in person at MCI Municipality and Municipality Youth Centers. Throughout the application period, MCI will be organizing info sessions across municipalities to disseminate information on the BIC 5 to a wider audience. Successful applicants will undergo boot camp training and present their business ideas at final pitching to secure grant and equipment support. USD$200,000 is expected to be distributed as grant and equipment support this year.
The YEES Project, jointly funded by the Korea International Cooperation Agency (KOICA), the Government of Timor-Leste via the MCI, and the UNDP, is committed to improving the economic opportunities in Timor-Leste by fostering youth-led entrepreneurship and increasing employment access. UNDP will continue to strengthen its partnership with government and development stakeholders to ensure sustainable and inclusive economic growth.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
