SHERUBTSE BUSINESS INCUBATION CENTER

DETAILS
PROVINCE: KANGLUNG, TRASHIGANG
AGENCY: SHERUBTSE COLLEGE, ROYAL UNIVERSITY OF BHUTAN
PROJECT NAME: SHERUBTSE COLLEGE BUSINESS INCUBATION CENTRE

Submitted by:
Lobzang Dorji, Manager,
Business Incubation Center,
Sherubtse College, RUB.

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Background
The birth of Sherubtse College was envisioned by the late His Majesty the Third King Jigme Dorji Wangchuk that “The students in Bhutan should
catch up with the scientific and technological development in other parts of the world. The younger generation must acquire knowledge and work
hard if it is to preserve the country’s freedom and national heritage”. Consequently, Sherubtse endeavor for the vision of an internationally
recognized institute in Liberal Arts and Sciences with an emphasis on GNH value based learning to provide GNH inspired tertiary education in
Liberal Arts and Sciences and to contribute to the development of knowledge-based society through creation, sharing and advocacy. Sherubtse is an
Alma Mater to two of our Prime Ministers, Cabinet Ministers, Secretaries, Civil Servants, Armed Forces and Business leaders of the country.
Sherubtse College has been oldest premier institutions which offers a wide range of undergraduate programmes and post graduate programmes in a
country. It is also the largest in terms of student and faculty strength, as well as programme and modules that are offered in the constituent colleges
of Royal University of Bhutan. Presently, it has almost 1600 students, 100 faculty members, five departments (Mathematics and Computer Science,
Arts and Humanities, Social Sciences, Physical Sciences, Environment and Life Sciences), and four research centres (Centre for Science and
Environmental Research, Climate Change and Spatial Information, Population and Development Studies and Archaeology and Historical Research)
that are actively involved in various research activities that makes confident to establish Sherubtse Business Incubation Centre.
Sherubtse College as an institution for higher learning and research, the College is committed to providing an environment conducive for holistic
development of every individual. Therefore, the planned Business Incubation Centre in Sherubtse College aims to encourage and support students
and community to learn and participate in entrepreneurship activities and to further encourage for idea generation and innovation into successful
startups. Furthermore, Sherubtse Business Incubation Centre programme would work in line with the key national priorities and goals and its focus
would be to build an innovation driven entrepreneurial ecosystem with an objective of national development through wealth and job creation .
Moreover, SCBIC will work hard to strive to nurture start-ups through hands on capacity building training, supporting and scaling of innovations. The
status of proposed Business Incubation Centre are as follows;

Status of the Incubator: Planned

Founders or proponents: Sherubtse College
Founders key strengths: Oldest premier institutions of Liberal Arts and Sciences in a country
Contact person: Lobzang Dorji
Contact phone number: +975-77326142
Email: lobzangdorji.sherubtse@rub.edu.bt

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Incubator
The Incubator we run, or intend to run, is (describe the Incubator):
The Incubator Sherubtse College intend to run is Mixed Business Incubation Center. Sherubtse College is an oldest premier institutions of Liberal
Arts and Sciences in a country which offers a wide range of undergraduate programmes and post graduate programmes in a country. It is also the
largest in terms of student and faculty strength, as well as programme and modules that are offered in the constituent colleges of Royal University of
Bhutan. Presently, it has almost 1600 students, 100 faculty members, five departments (Mathematics and Computer Science, Arts and Humanities,
Social Sciences, Physical Sciences, Environment and Life Sciences), and four research centres (Centre for Science and Environmental Research,
Climate Change and Spatial Information, Population and Development Studies and Archaeology and Historical Research) that are actively involved
in various research activities that makes confident to establish Sherubtse Business Incubation Centre. Thus, Incubator in Sherubtse College intend
to run mixed type of Business Incubation Center with focus on the following key economic sectors;
 Filming and Documentary Movies
 ICT & Robotics
 Agriculture
 Education
 Tourism

Our definition for the Incubator is: is a public and/or private, entrepreneurial, economic and social development process designed to nurture business
from idea generation to start-up companies and, through a comprehensive business support program, help them establish and accelerate their
business support program, help them establish and accelerate their growth and success

We chose this Incubator because (reasons why you chose this Incubator):
 To create jobs, wealth and business aligning with national priorities,
 To promote new technology/knowledge/innovation based startups,
 To access technical and business related skills necessary for the business growth process,

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 To act as an Information centre for all national, provincial and regional business related policies and programs as pronounced by
the government,
 To build a vibrant startup ecosystem, by establishing a network between academia, financial institutions, industries and other institutions,
 To provide cost effective, value added services to startups like mentoring, legal, financial, technical, intellectual property related services,
 To guide business consulting services at a minimal costs to the entrepreneurs from nascent to developed stage.

Customers
The customer segments (entrepreneurs) we target or plan to target are: (list by segments):
1. Graduating students
2. Alumni
3. Communities
4. Faculties
5. Business Owners
6. Students from Schools

The needs of each segment are (problems they are facing):

1. Graduating students
 The current social norm has been guiding the graduating students to opt for salaried jobs than entrepreneurial activities.
 Low level of entrepreneur education program in tertiary institution.
 Perception of parents to take up government job.
 Small Seed Grant from the government or a collateral free loan.
 Socio-economic condition not favorable to new start-ups.
 Low level of support from the community to entrepreneur.
2. Alumni
 Perception of parents to take up government job.
 Small Seed Grant from the government or a collateral free loan.
 Socio-economic condition not favorable to new start-ups.
 Low level of support from the community to entrepreneur.
3. Communities
 Unaware of available support and facilitation provided by the government, non- government and financial institutions.
 Low level of understanding on the inclusive entrepreneurship awareness programs.

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4. Faculties
 Lacks entrepreneurial skills and knowledge among faculty in tertiary institution
 No fund to faculties for research and development.
5. Business Owners
 Low level of understanding on the inclusive entrepreneurship awareness programs.
 Poor network with the institution on entrepreneurship and development.
6. Students from Schools
 Low level of entrepreneur education program in schools.
 No entrepreneurship clubs in schools.
 Poor network with the institution on entrepreneurship and development

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Value Proposition
The value proposition we offer to each customer segment is: (list for each customer segment above)

1. Graduating students
 Provide facilities such as working space and training room to nurture business from idea generation to start-up companies and, through
a comprehensive business support program, help them establish and accelerate their business support program, help them establish
and accelerate their growth and success.
 Learning and support from Mentor with mutual support and professional advice and coaching to address knowledge gaps
 Good location within the campus with easy access to library, computer lab, and other facilities reducing the cost, risk and flexibility.
2. Alumni
 Provide facilities such as working space on monthly flexible terms.
 Mentors will guide to navigate to nurture business from idea generation to start-up companies and, through a comprehensive business
support program, help them establish and accelerate their business support program, help them establish and accelerate their growth
and success.
 Learning and support from Mentor with mutual support and professional advice and coaching to address knowledge gaps
 Good location within the campus with easy access to library, computer lab, and other facilities reducing the cost, risk and flexibility
3. Communities
 Provide facilities such as working space on monthly flexible terms.
 Establish business advice to communities on unaware policies and scheme that are provided by government, non-government and
financial institution.
 Mentors will guide to navigate to nurture business from idea generation to start-up companies and, through a comprehensive business
support program, help them establish and accelerate their business support program, help them establish and accelerate their growth
and success.
 Learning and support from Mentor with mutual support and professional advice and coaching to address knowledge gaps
 Good location within the campus with easy access to library, computer lab, and other facilities reducing the cost, risk and flexibility
4. Faculties
 Provide entrepreneurial skills and knowledge among faculties in the campus
 Engage and support faculties for research and development of prototype.
 Be mentors to guide to navigate to nurture business from idea generation to start-up companies and, through a comprehensive business
support program, help them establish and accelerate their business support program, help them establish and accelerate their growth and
success.

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5. Business Owners
 Provide facilities such as working space on monthly flexible terms.
 Establish business advice to communities on unaware policies and scheme that are provided by government, non-government and
financial institution.
 Mentors will guide to navigate to nurture business from idea generation to start-up companies and, through a comprehensive business
support program, help them establish and accelerate their business support program, help them establish and accelerate their growth
and success.
 Learning and support from Mentor with mutual support and professional advice and coaching to address knowledge gaps
 Good location within the campus with easy access to library, computer lab, and other facilities reducing the cost, risk and flexibility

6. Students from Schools

 Support students from schools to understand entrepreneurial opportunities available in the country.
 Provide facilities such as working space on monthly flexible terms.
 Mentors will guide to navigate to nurture business from idea generation to start-up companies and, through a comprehensive business
support program, help them establish and accelerate their business support program, help them establish and accelerate their growth and
success.
 Learning and support from Mentor with mutual support and professional advice and coaching to address knowledge gaps.
 Good location within the campus with easy access to library, computer lab, and other facilities reducing the cost, risk and flexibility

Services (Key Activities)

We offer, or plan to offer, these services:
 Renting space on monthly flexible term,
 Phone, photocopying, internet, fax, binding, secretarial services,
 Business coaching,
 Personal support,
 Networking,
 Referral to business professionals (accountants and lawyers primarily),
 General business advisory services – free by appointment 1 day a week,
 Marketing strategy,
 Product Development (Prototype).

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The aforementioned services address the needs by aspirant entrepreneurs. These services cater to the learning styles of entrepreneurs by
(for example one to one mentoring rather than classroom-based training). Sherubtse College Business Incubation Center plans to deliver these
services by providing training programs for entrepreneurial faculty members. In order for entrepreneurial education to have its impact on students,
alumni, communities, business owners and schools; this can be achieved through participation in business training, workshops and seminars.
Sherubtse College Business Incubation Centre will look for an opportunity to partner with successful private business associations and encourage
the practical learning processes which would enable faculty members to experience the nature of real business operation cycle.

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Ecosystem and Stakeholders needed to support the Incubator

Sherubtse College Business Incubation Center connect to the ecosystem as follows;

Service Category Service Description of the service Who should Stakeholders to be involved in the service
run / manage
the service

 Competitions (e.g. calls for business ideas) Manager & Sherubtse College, Research Centre and
Entrepreneurship are very useful and can stimulate interest in Mentors for Sherubtse Business Incubation Center
education a fun environment. Competitions tend to be Sherubtse will have a role in promoting awareness
initiatives and more motivational for the entrepreneur and Business and capacity among students
competitions receive a better response in term of Incubation Private Sector: They are important in this
audience. Center phase as they act as an inspiration by
 Find out the gaps in the formal education sharing knowledge & expertise.
system and to provide complementary
education to entrepreneur’s initiatives to fill Accelerators
in those gaps. / coworking
spaces with
Entrepreneurship  (e.g. thematic workshops rather than just good
dissemination general dissemination/awareness activities enterprise
SOFT SUPPORT activities to provide direction). experience in
 Successful enterprises could be involved a college
as regional ‘champions’, representing role
models/case studies to inspire potential
Integrated entrepreneurs.
orientation
services and  Consultation, mentoring and training for
training

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orientation (profiling, careers guidance,

skills assessment), business idea
evaluation and business plan support.
 Specific services may also be provided for
innovation/digital innovation orientated
ideas.
 Evaluate their business ideas, understand
the mechanisms of the Business plan.

PHYSICAL Co-working Physical spaces are important in this phase as Manager & Manager of
INFRASTRUCTURE spaces and they allow for human contact, exchange Mentors for business incubators. They should
innovation / and a creative environment in which to Sherubtse be connected among each other
technology Hubs focus on the business idea. Business and with the public spaces
Ensure flexibility (for Easy in / easy out), cost Incubation
effectiveness and access to business Center as the
networks and other contacts management
should be
connected to
the other
ecosystem
components
and
particularly to
the entity
providing soft
support
services.
An advisory / mentoring services directs to Manager &
FUNDING Financial support understand the feasibility of the Mentors for
to support entrepreneurship idea, not only under Sherubtse
entrepreneurship technical/technology profile, but also under Business
commercial profile in order to provide market Incubation Government funding or form financial
validation at an early stage Center will institution with no collateral loans.
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provide the
information of
potential
funding tools
and
mechanism.

The ecosystem has the following gaps:

 Infrastructure and management support, guiding them on Business management and competitiveness, among other key issues for the
development of a startups.
 There is less entrepreneurial education to have its impact on student’s entrepreneurial inclination because faculty members lack advanced
knowledge and hand on experience trained in entrepreneurial skills and knowledge.
 Human behaviour such as behavioral belief, normative belief and the control belief that stimulates entrepreneurial are hindrance for the
growth of entrepreneurship.
 Lack of Finance- this is one of the main factor which was affecting entrepreneurship development in Bhutan. Getting required finance to
either set up a new venture or to expand the existing enterprise is one of the biggest challenges faced by the potential and
existing entrepreneurs.
 Collaboration and Coordination among stakeholders such as financial institutions are some of the critical challenges.

The stakeholders who support our Incubator are (list and describe what support they provide);
Department of Employment and Human Resources, Ministry of Labour & Human Resources. DoEHR, Ministry of Labour & Human Resources and
Sherubtse College signed MoU to provide grants for the establishment of incubation center to cover annual administrative cost and seed funding for
the incubates on 25th December,2020.

Our Incubator will be stronger if the following additional stakeholders are involved (list along with the reasons):
Sherubtse Business Incubator will be stronger if incubator sign a ToR and MoU with Financial Institutions and private sector that can leverage the
level of competence in the sphere of taking the initiatives, planning and management, coping with ambiguity, uncertainty and risk. Meanwhile,

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resources can also improve the Self-awareness and self-efficacy, motivation and perseverance, Mobilizing resources, Financial and
economic literacy. Further, the generation of ideas and Opportunities’ can spot opportunities with creativity and valuing ideas .

We plan to engage stakeholders by (describe your strategy):

Step1: Identify

Sherubtse College will identify the stakeholders aligning with the goals of the incubators. Sherubtse College will widely spread the net at this stage
with more robust your plans and will also think about how incubator need to influence each stakeholder in order to achieve the results. .

Step 2: Analyse

The more you understand about each stakeholder, the more effectively you can engage with them and influence them. Because you will have
limitations on your time and resources, hence Sherubtse College will priorities the interaction with stakeholders and allocate your resources
accordingly. So the incubator will consider to take time to understand just whom you have available to support you in the engagement process, and
what skills and approaches they can bring to bear.

Step 3: Plan

The third step, Sherubtse College will draw up a campaign plan for engaging and communicating with stakeholders. This involves setting out the
messages you will give, the approaches you will take, who tackles each assignment and when, and how you will gauge and handle the feedback you
get.

Step 4: Act

This is where you engage your stakeholders and seek to harness their insights and influence their attitudes. Where you encounter resistance,
Sherubtse College will need to handle this positively in order to remove it where possible. Having powerful insights can help to assess and handle
resistance.

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Step 5: Review

The review cycle is critical to the success of your stakeholder engagement campaign. Constantly monitor the outcomes of communication with
stakeholders and reassess your plans where necessary. Periodically, step back and look at the big picture, also reviewing which new stakeholders
are appearing on the landscape and how Sherubtse College need to engage with them.

Feasibility of the Incubator

We determined the feasibility of the Incubator, or plan to determine the feasibility of the Incubator, with reference to the points below, by (describe
how each was assessed):

• Solid market
Sherubtse College oldest premier institutions which offers a wide range of undergraduate programmes and post graduate
programmes in a country. It is also the largest in terms of student and faculty strength, as well as programme and modules that are
offered in the constituent colleges of Royal University of Bhutan. Presently, it has almost 1600 students, 100 faculty members, five
departments (Mathematics and Computer Science, Arts and Humanities, Social Sciences, Physical Sciences, Environment and Life
Sciences), and four research centres (Centre for Science and Environmental Research, Climate Change and Spatial Information,
Population and Development Studies and Archaeology and Historical Research) that are actively involved in various research
activities that makes confident to establish Sherubtse Business Incubation Centre.
• Sound financial basis
This Memorandum of Understanding (MoU) is signed between Department of Employment & Human Resources, Ministry of Labour
and Human Resources, herein referred to as DoEHR, MoLHR on one part and Sherubtse College, Royal University of Bhutan. It is
based on preliminary visits and discussions with the colleges, block grant of Nu.7 million are allocated to establish Business
incubation center. Initially a sum of minimum Nu. 1 million will be booked from the block grant for seed fund to support innovative
ideas of incubates in developing their products and services but while implementing incubation program for incubates if fund is not
sufficient the college can propose additional fund from the Entrepreneurship Division, DoEHR, MoLHR.

• Strong community support

There is strong community support from students, alumni, communities, business owners to establish Business Incubation Centre in
Sherubtse College, Kanglung.
• Champions

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Sherubtse is an Alma Mater to two of our Prime Ministers, Cabinet Ministers, Secretaries, Civil Servants, Armed Forces and
Business leaders of the country.

Business Model
Designed for: Designed by: Date: Version:
Business Model Canvas Sherubtse Mixed use incubator Lobzang Dorji 25/12/2020

Key Partners Key Activities Value Propositions Customer Relationships

 Sherubtse College – building  Renting space on monthly
at no cost of 3980 sq.ft which flexible term,
is old Environmental Science  Phone, photocopying,
Lab buildings internet, fax, binding,
 Accountants, Lawyers, secretarial services,
Mentors  Business coaching,
Media – for editorial  Personal support,
promotion  Networking,
 Financial Institutions  Referral to business
 Department of Employment & professionals
Human Resources, Ministry of (accountants and lawyers
Labour and Human primarily),
Resources  General business
advisory services – free
by appointment 1 day a
week,
 Marketing strategy,
 Product Development
(Prototype).
Key Resources
 Staff
 Business professionals
 Mentors
 Facilities – building and
equipment
 Provide facilities such as
working space and training room
to nurture business from idea
generation to start-up companies
and, through a comprehensive
business support program, help
them establish and accelerate
their business support program,
help them establish and
accelerate their growth and
success.
 Learning and support from
Mentor with mutual support and
professional advice and
coaching to address knowledge
gaps
 Good location within the campus
with easy access to library,
computer lab, and other facilities
reducing the cost, risk and
flexibility.
 Nurture business from idea
generation to start-up
companies and, through a
comprehensive business
support program, help them
establish and accelerate their
business support program, help
Customer Segments
 Personal 1. Home based businesses,
Post revenue, Early stage
and wanting to grow -
maybe started part time
while in a job
2. Startups – no ideas - ideally
with strong market
knowledge as a result of
previous employment
3. IP driven high growth
technology businesses –
20%
Channels
 Personal – word of
mouth
 Networks Referral by
associated
organizations
 General business

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them establish and accelerate advisory services
their growth and success.

Cost Structure Revenue Streams

-Salaries -Rental fee
-Building costs (maintenance, utilities etc) -Government funding for 1st 3 years
-Overheads – marketing, administration

Sustainability Strategy

Our financial sustainability strategy is (describe):

Sherubtse Business Incubation Center will generate revenues through the provision of the following goods/services:
Incubator
 Rent: below market rates will be charged to start-up firms but gradually increase as the incubation period progresses. The goal is to lighten
the load of overheads in the critical, early stages of the enterprise and as the firm grows, increase rates so as to provide an incentive for the
firm to exit the incubator once sufficiently developed.
 Shared services: incubated firms will be charged a flat rate for the administrative/secretarial services provided by BITC including telephone,
fax and internet usage, photocopying, book-keeping, secretarial work and conference rooms.
 Provision of business services and training: businesses services are primarily provided by external service providers. For access to this
network, a small service fee is levied depending on the service required. It is hoped that preferential rates can be negotiated with service
providers as no service will be provided to incubatees at an above-market rate (including the service fee)
 Equity investment (under negotiation): there is scope for a seed capital fund to be launched in conjunction with the DHI or the World Bank,
pending regulatory matters. This fund would invest in start-up businesses housed at the BITC and make an equity investment of 5-20% in
incubated firms, depending on the risk profile, capital requirements and growth potential of the company.
 Sponsor organisation funding: a number of organisations and government-funded initiatives exist in Bhutan for private sector development.
Where appropriate, these sources of funding may be applied for.
Shared Technology
 Centre o Membership: a number of workstations and other facilities are provided for use for those that are members of the Sherubtse
Business Incubation Center.
 Membership is open to the general public. A membership fee is necessary to ensure that facilities are not over-used and their upkeep.

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 Café: the Cyber Café provides a modest revenue stream through the sales of its food and other products. o Events/training: a
number of events, hosted solely by Sherubtse Business Incubation Center or jointly-organized with other stakeholders, provide a source of
revenue derived from a fee for attendance (the level of the fee will differ depending on the event). Training sessions are also organized and
a fee for attendance is charged.
Marketing and the Target market
The Sherubtse Business Incubation Center will be aimed at entrepreneurs or business people with:
 Demonstrated experience or potential to start or run a business. This person will possess ‘entrepreneurial’ skills such as: sale and
marketing, financial knowhow, self-motivation, strategic thinking, time management, leadership, risk management, interpersonal and
communication skills, etc.
 Willingness to conduct business in an open, collaborative and cooperative fashion including meeting the coaching and consulting
requirements of the incubator.
 Preparedness to accept the rules and support of the BITC Business Incubator including mentoring by incubator staff, periodic monitoring of
performance and use of selected business development services.
 The company must be a start-up or early-stage business. The company may be a joint-venture or partnership with a foreign-based
enterprise or multinational.

Potential incubatees will be contacted and engaged primarily through a dedicated website, information on the Shared Technology Centre’s events,
social networks, brochures/pamphlets, tenant/graduate referral and other informal external networks that participants in Sherubtse Business
Incubation Center possess. These mediums will be used to clearly explain what the benefits are to firms in joining the incubator, what services they
will be provided and the cost of the services.

Numerous other, existing institutions and organisations will be leveraged to spread the word regarding Sherubtse Business Incubation Center.
Stakeholders include universities, colleges, government departments, international organisations, chambers of commerce, multinational enterprises,
etc. Some target partners already identified include: Druk Holdings and Investment, Loden Foundation, FM Scouts, Youth Development Fund,
MoLHR, Bhutanese Banks, and schools.

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Partners in Entrepreneurship Development in Bhutan
As the first business incubation centre in Bhutan, Sherubtse Business Incubation Center will be a hub for
entrepreneurship and private sector development-related activities in the country. At present, numerous
individual programmes to improve entrepreneurial skills and opportunities are operated by an equally
diverse range of institutions and organisations in Bhutan. Sherubtse Business Incubation Center will
attempt to link all these groups together so as to provide the best and most cost-effective assistance to
potential entrepreneurs.

Druk Holding and Investments’ (DHI) Entrepreneurship Development Programme: this programme focuses
on 3 key elements: a Training Programme, a Seed Fund and Mentoring. It will be for: Start-ups (express
interest & growth potential), Existing small businesses (growth potential) and New subsidiaries of existing
companies. The expenses for the Programme will be supported by DHI. DHI will not fund the trainee during
the training.

Possible areas of collaboration between DHI and Sherubtse Business Incubation Center would look into the
possibility of integrating the Entrepreneurship Development Programme with Sherubtse Business
Incubation Center, the possibility of partnering in an equity capital with Sherubtse Business Incubation
Center and also the availability of incubation space at Sherubtse Business Incubation Center for the
entrepreneurs who have undergone DHI EDP, if required.

Department of Employment Entrepreneurship Promotion Division: running two entrepreneur skill

development courses (Basic and Comprehensive) that target unemployed youth. Participants take the
course then submit a business proposal to the department, which then screens and scrutinises the
proposal before selecting those that are viable in the local market. The programmes focus primarily on the
manufacturing and services sectors.

To pursue collaboration in this area, Sherubtse Business Incubation Center proposes to collaborate in the
areas of provision of basic entrepreneurship skills courses, linking up of financing support with their credit
guarantee fund, referral of potential incubatees to Sherubtse Business Incubation Center, joint-holding of
capacity building events, locating of mentors and finally, collaboration in the setting up of the Department’s
own business incubator programme.

Team
Our current team is (list positions):

Lobzang Dorji – Manager, Sherubtse Business Incubation Center

Lobzang Dorji completed his MA in International Studies, PG Diploma in Rural Development and Human
Rights. Currently, he is serving as Programme Leader to History Programme, and partly looks after
Sherubtse UN Club. Prior to his teaching profession, he worked as Journalist to Bhutan Times, Researcher
to Bhutan Tourism Cooperation Limited, and Project Coordinator to Bhutan Association of Women
Entrepreneurs. He was even awarded third winning team in the nation level startup weekend competition in
2017.

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Tshering Dorji –Sherubtse College
Tshering Dorji completed his BA in Population and Developmental Studies. Currently, he is teaching
undergraduate students of Population and Developmental Studies.

Rinzin Dema – Sherubtse College

Rinzin Dema completed her MA in Economics. Currently she is teaching undergraduate students of
economics.

We plan to hire or engage additional team members (list positions):

 Dr. Bishal Gurung, Associate Professor,( Agriculture Scientist )

 Dawa Tshering Tamang, Lecturer ( Micro-Biology)
 Mohan Sign Rana, Lecturer, ( Genetics)
 Sonam Chophel, Lecturer, ( Physical Geography )
 Parsu Kaflay , Lecturer, ( Physics & Robotics)
 Karma Tenzin, Lecturer, ( Electronic Physics)

Board and Governance

We plan to strengthen our governance by (for example by forming a board of directors involving key
stakeholders, or by involving people with particular skills and networks, or with an advisory board):
Sherubtse Business Incubation Center
To ensure that the SBIC effectively engages with the local business establishment, chamber of commerce,
government departments, international organizations, etc, an Advisory Board will be established to bring all
of these diverse stakeholders together on a quarterly basis. At present, the following institutions are
envisioned to have a representative on this advisory committee:
1. Royal University of Bhutan (RUB)
2. Druk Holdings and Investment
3. Bhutan Chamber of Commerce & Industry (BCCI)
4. Royal Monetary Authority or other financial sector representative
5. NGO representative
6. International Finance Corporation
7. Ministry of Information and Communications
8. Ministry of Economic Affairs (Department of Industry)
9. Ministry of Labour and Human Resources (Department of Employment)

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Next Steps
We need the following additional information (if any is needed):
 SUITABILITY OF THE ENTREPRENEUR OR BUSINESS
 PROJECTED VIABILITY OF THE BUSINESS
 COMPATIBILITY OF THE BUSINESS TO INCUBATOR PRINCIPALS AND OBJECTIVES
 COMPLETION OF THE APPLICATION PACKAGE
 DEMONSTRATED NEED FOR THE SBIC SERVICES AND FACILITIES

We need advice and help with the above-mentioned themes. Our next steps are:
1. TOR finalization between the colleges and DoEHR
2. College submit cost estimate based on TOR by 15 th Nov. 2020
3. MoU signing, 25th December 2020
4. Disbursement of amount, first week of January 2020
5. Virtual Incubation Management Training, 7-11 December 2020
6. One to One session by Incubation Facilitator in January, 2021
7. Final Business Incubation Management by March, 2021
8. Procurement of furniture and equipment and setting up of incubation centre by Mid June 2021
9. Operationalize the incubation center by July, 2021

Annexure I-Sherubtse College

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SHERUBTSE BUSINESS INCUBATION CENTER

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