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 New Bhutan Times)

This article first appeared on Kuensel.


Tag Cloud

Related Posts

Thimphu TechPark aims to attract foreign investment

The main mission of the company is to attract reputed IT/ITES companies from both within Bhutan and around the world to...

Oct 01, 2017 17:37

Another Techpark in Bhutan by 2019

The Ministry of Information and Communications (MoIC) will establish another Techpark by 2019. This is geared towards...

Oct 17, 2017 09:38

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

Bhutan Soul Farmers Aims To Be A Model Of Soulful...

Bhutan Soul Farmers’ basic tenet is the sufficiency economy philosophy promulgated by King Bhumibol Adulyadej of...

Sep 24, 2018 11:24

Cultivation Of Avocado Looks Set To Take Off In Tsirang, Bhutan

A few farmers have already started selling avocados in the Sunday vegetable market for about Nu 250-350 a kilogram.

Sep 18, 2018 15:38

BEBL Group Aims To Export Bhutan’s Finest Agro-Products To New...

Most of the Bhutanese commodities are absorbed within the Indian market, BEBL feels that the farmers are deprived of...

Sep 14, 2018 17:52

Latest

News

Bhutan Ranks 134th Out Of 189 Countries On The Human Development Index

Bhutan has climbed a step up from its 135th rank in 2016, according to the Human Development Indices and Indicators.

Sep 19, 2018 16:25

National Assembly Election 2018: Druk Nyamrup Tshogpa And Druk Phuensum Thosgpa Through To General Round

Druk Nyamrup Tshogpa secured 92,722 votes and Druk Phuensum Thosgpa secured 90,020 votes.

Sep 15, 2018 21:50

Features

Thruebab Or Blessed Rainy Day Held In Bhutan To Cleanse Bad Karma And Receive Blessings

Also known as the ‘Blessed Rainy Day’ in Bhutan, it is a holiday which marks the end of the monsoon season.

Sep 23, 2018 17:31

Drukgyel Dzong Which Used To House Sacred Bhutanese Documents Lost to A Fire In 1951, To Be Restored By 2022

The reconstruction works began in April 2016 after the command of His Majesty The King to celebrate the birth of His Royal Highness (HRH)...

Sep 17, 2018 15:42

Sports

No Medals Won But Bhutan Was Recognised For Its Concept Of Happiness By Various News Outlets At The 18th Asian Games

Stephen Wade said that in the Olympics results, there is a direct correlation between how much money a country spends and how many medals...

Sep 20, 2018 17:10

Bhutanese Female Athlete Aces In Athletics And Boxing While Juggling Studies

Tandin was selected to compete at the 18th Asian Games in Indonesia last month.

Sep 09, 2018 17:24

Business

Bhutan Soul Farmers Aims To Be A Model Of Soulful Self-Sufficiency In The Country

Bhutan Soul Farmers’ basic tenet is the sufficiency economy philosophy promulgated by King Bhumibol Adulyadej of Thailand.

Sep 24, 2018 11:24

Cultivation Of Avocado Looks Set To Take Off In Tsirang, Bhutan

A few farmers have already started selling avocados in the Sunday vegetable market for about Nu 250-350 a kilogram.

Sep 18, 2018 15:38

Travel

Women In Ramthangka, Bhutan Pick Up New Languages Such As Korean And Chinese To Boost Sale Of Souvenirs

With tourists visiting the site at all hours of the day and almost every day, the women in Ramthangka are most often busy talking and...

Sep 22, 2018 15:03

Handicrafts Shops Thrives In Paro Selling Bhutanese Textile, Paintings, Bamboo Products And More

With businesses picking up fast as a result of the tourism boom, the handicraft shops in Paro have even formed a committee with a...

Sep 16, 2018 14:56

Lifestyle

Bhutan’s Legend - Pemi Tshewang Tashi Is Now Successfully Made Into A Comic And Animation Film

It is a tale of how Pemi Tshewang Tashi, a warrior in his time, gave up his personal life as he dutifully carried out his lord’s order of...

Sep 21, 2018 17:44

Miniature Bhutan Creates Amazing Artworks Out Of Pencil Lead And Rice Grains

Miniature Bhutan carves on the lead of pencil tips to make traditional miniature sculptures such as the Buddha, traditional bridges, swords...

Sep 10, 2018 12:44

Subscribe to our newsletter

Never miss out on new happenings and news stories!