Thimphu Tech Park Expansion Begins

Email

Thimphu TechPark begins work to expand its infrastructure with the ground breaking ceremony (Salang Tendrel) for a new building on a five-acre land that has been leased to the Park.

Ground breaking ceremony (Salang Tendrel) for a new TechPark Building (Source: Lyonpo DN Dhungyel Facebook account)

 

Fully leased out to seven FDI companies, Thimphu TechPark begins work to expand its infrastructure with the ground breaking ceremony (Salang Tendrel) for a new building on a five-acre land that has been leased to the Park.

The seven FDI companies from US, Canada, Australia, Switzerland, Bangladesh, and India and BITC employs about 745 Bhutanese youth according to Chief executive officer, Tshering Cigay Dorji (PhD).

New Techpark will create employment opportunities for youth

Earlier this year, the Ministry of Information and Communications (MoIC) has announced that another Techpark will be set up by 2019. This is geared towards addressing unemployment in the country through Information and Communications Technology. The plan was highlighted at the 3rd ICT Conference held in Thimphu on 16 Oct 2017. 

DN Dhungyel, the Information and Communications Minister said that the present Techpark, Thimphu Techpark, has not just become a source of employment but revenue as well. Currently, the facility employs more than 800 youth and contributes Nu 180 M to the economy annually.

TechPark also consists of Bhutan Innovation and Technology Centre (BITC) – a business incubation centre, a data centre and a shared technology centre on the ground floor. The seven FDI companies and BITC employs about 745 Bhutanese youth according to Chief executive officer, Tshering Cigay Dorji (PhD).

Promoting entrepreneurship and innovation in Bhutan

Information and Communications Minister, DN Dhungyel, said that BITC plays a crucial role in promoting entrepreneurship and innovation in the country by providing entrepreneurship trainings and conducting events such as the Business Idea Competition of Bhutan and Startup Weekend.

 

 

The new building is expected to create employment opportunities for an additional 300 Bhutanese youth. Druk Holdings and Investments (DHI) is funding the building’s construction for about Nu 77 million (1.18 million USD). The new building would be about one-third the size of the existing structure. Construction Development Corporation Limited is expected to complete the construction by June 30, 2019.

The government has also set aside another 13 acres of land for further expansion of the IT Park in near future.

The startup ecosystem in Bhutan

Tshering Cigay Dorji said that the success of the first IT Park has shown that investing in these kinds of initiatives would help create employment opportunities for youth, and earn foreign exchange for the country. 

Thimphu TechPark has been instrumental to the development of the startup ecosystem in Bhutan. Through out the year, the TechPark organises Basic Entrepreneurship Course and collaborate with Techstar on Startup Weekends, the most recent one focusing on Eco-tourism in November 2017.  

 

By Karma Cheki (This article has been edited for the Daily Bhutan)

This article first appeared on Kuensel.


Tag Cloud

Related Posts

Techstars Startup Weekend Bhutan (Eco-Tourism): 54 Hours where...

The eventful weekend saw 130 keen people in attendance, of which 56 pitched ideas. This was the fifth time that such an...

Nov 29, 2017 08:46

Brand Bhutan: Bhutan Herbal Tea

Bhutan Herbal Tea is the brainchild of two Bhutanese individuals who first crossed paths in New York during a Bhutanese...

Nov 25, 2023 13:56

Brand Bhutan: Deki Natural Dyes

Deki Natural Dyes is a family business that was formally established in 2011, and it holds a rich legacy spanning three...

Nov 15, 2023 12:06

Brand Bhutan: Where Quality Meets Tradition in Every Product

The Ministry of Economic Affairs in Bhutan, which used to be called the Ministry of Trade & Industry, was established in...

Nov 06, 2023 11:44

Sturgeon and Trout: Bhutan's Emerging Aquaculture Industry

Fish farming in Bhutan has been on the rise, but the country still relies heavily on fish imports to meet the growing...

Oct 17, 2023 13:53

Bhutan's Growing Tourism Welcomes Luxury Hotel Additions in 2023

As Bhutan's tourism sector continues to grow, it's not surprising that new entrants are keen to enter the luxury...

Oct 01, 2023 13:42

Latest

News

Bhutan National Elections: Bhutanese Ready to Cast Their Votes

On Thursday, Bhutan is set to hold its fourth election since transitioning to democracy, with the largest-ever roster of five political...

Nov 29, 2023 23:02

Bhutan Political Parties Vigorously Campaigning to Capture Hearts and Votes

As the excitement surrounding the 2023–2024 National Assembly Elections engulfs Bhutan, political parties are leaving no stone unturned in...

Nov 20, 2023 20:51

Features

Bhutanese artist wins one of Asia's top art contests

The International Artist Grand Prize Competition is held in Taipei, Taiwan.

Oct 04, 2023 18:19

Art United: A Contemporary Vision' Exhibition Now Open to Public

'Art United: A Contemporary Vision' Exhibition was unveiled by Her Royal Highness Ashi Sonam Dechan Wangchuck

Sep 19, 2023 18:56

Business

Brand Bhutan: Bhutan Herbal Tea

Bhutan Herbal Tea is the brainchild of two Bhutanese individuals who first crossed paths in New York during a Bhutanese New Year gathering...

Nov 25, 2023 13:56

Brand Bhutan: Deki Natural Dyes

Deki Natural Dyes is a family business that was formally established in 2011, and it holds a rich legacy spanning three generations.

Nov 15, 2023 12:06

Sports

Dragon Boys' Resilience Shines Through: Bhutan's World Cup Journey

Following the 4-0 defeat in Hong Kong, the prevailing anticipation was that Bhutan's national team would need to score at least five goals...

Oct 19, 2023 11:40

Historic hybrid chess tournament pits Bhutanese against American players

In the inaugural Bhutan and US Friendship Bridge Tournament on September 2, ten local chess players engaged in competition against...

Sep 12, 2023 11:05

Travel

Singapore to Palau: Alii Palau Airlines Launches Historic Route With Drukair

You can now visit the Palau Paradise directly from Singapore!

Oct 27, 2023 16:17

Bhutan's aviation pioneer: The story of Jamair and the early days of air travel

In 1952, Bhutan initially proposed the establishment of a fully equipped aerodrome in Punakha and the acquisition of a Dakota airplane.

Sep 13, 2023 11:15

Lifestyle

Balancing Dreams and Realities: An Attempt of a Bhutanese To Live the Australian Dream

Australia has long held an equally special allure for Bhutanese with a tantalizing prospect of the ‘Australian Dream’ encompassing a better...

Oct 26, 2023 11:51

Crafting dreams in Laya: The carpenter settlers of the highlands

Laya, nestled in the Bhutanese highlands, is known for its stunning natural beauty and unique cultural heritage.

Sep 12, 2023 11:28

Subscribe to our newsletter

Never miss out on new happenings and news stories!

Download Daily Bhutan Mobile App

Connecting with us just got easier!