The Tibetan community-in-exile is situated in the rapidly growing economy of India where business opportunities abound and promise to provide employment and economic stability for individuals, families and entire communities. Even though the Tibetan community boasts of its in-born entrepreneurial instincts, very little progress has been made by the Tibetan community-in-exile to assure prosperity, which in turn will help to sustain the culture and provide employment for Tibetan youth.
The current Central Tibetan Administration recognizes the need for change and is dedicated to encouraging and supporting the entrepreneurial culture that exists throughout the Tibetan community-in-exile. For this reason it has established the Tibetan Entrepreneurship Development (TED) program, a unit within the Department of Finance, which is committed to economic freedom and the support of Tibetan entrepreneurs.
As a part of a highly optimistic and forward looking plan, TED is launching the TED Entrepreneurship Investment Award – 2016 to meet the following goals:
- To create a sustainable and resilient Tibetan community.
- To provide the financial support needed to encourage new entrepreneurs to develop businesses that would be sustainable and that would contribute to the viability of the settlement communities.
The TED Entrepreneurship Investment Award – 2016 is a competition to identify new entrepreneurs who have a great business plan but do not have the support to make it a reality. The finalists in the contest will be awarded a sum of up to a total of INR 1,500,000/-. TED hopes there will be much interest in this competition and invites all eligible candidates to step forward.
OBJECTIVES OF THE COMPETITION
- Instill the entrepreneurial ideal and culture among Tibetans
- Encourage and nurture investment from within the community to promote capital formation
- Recognize and celebrate the achievements of Tibetan entrepreneurs and future prospects, thereby inspiring young Tibetans to become involved in the Tibetan entrepreneurial ecosystem
- Provide financial support to the aspiring Tibetan entrepreneurs
- Sustainability of business
A Business model that is viable and feasible and includes a thorough study of the market and detailed analysis of other such factors.
The revenue model must prove rationale growth and income generating capabilities to sustain the business and show scope for scale.
Making significant contribution to the Tibetan Diaspora (i.e.) contributions in the areas such as education, health, promoting of Tibetan culture, preserving of the environment and creating employment opportunities etc.
The entrepreneur must show high motivational and entrepreneurial drive to carry forward the business and have capabilities to motivate future potential Tibetan entrepreneurs.
Note: The entrepreneurs will be judged based on the above-mentioned criteria and must fulfill most of the criteria mentioned.
TED will call the tender for the investment award and conduct the first round of application screening. An interview by a panel of Senior Tibetan entrepreneurs will be conducted. The final leg of the selection will be an interview round by External entrepreneurs.
- August 1, 2016 – Application Deadline (5 PM)
- August 10, 2016 – Selection Round (10 entrepreneurs to be shortlisted)
- August 15, 2016 – Announcement of the selected entrepreneurs (10 shortlisted entrepreneurs)
- August 27 & 28, 2016 – Pitching training (training for the 10 selected entrepreneurs)
- August 29, 2016 – Judging round 1 (6 entrepreneurs to be shortlisted)
- August 30 & 31, 2016 – Judging round 2 (Final pitching round of the 6 finalists)
- September 2, 2016 – Award Presentation (Democracy Day at Tsuglakhang)
GENERAL RULES AND REGULATIONS
The minimum eligibility requirements to be considered for the award are:
- The applicant should be 18 years and older.
- The applicant must hold a current green book.
- The applicant’s business must fulfill all the legal obligations of the local government.
TED reserves the right to disqualify, in its sole and absolute discretion, any applicant if the below mentioned rules are not met. Please note that the decision by TED is final and not subject to review.
- All applications must be submitted online or to the TED office by 5 pm on August 1st, 2016. Applications submitted after the deadline will not be considered.
- Incomplete applications will not be considered. Contact firstname.lastname@example.org or +91-9816-768-569 for questions regarding the application.
- TED reserves the right to withdraw an entry from the judging process at any time if the entry is deemed inappropriate for any reason.
- Required supporting documents must be submitted along with the application form.
- No participant under any circumstances may attempt to contact a judge during or before the competition. Any such behavior will result in the disqualification of the participant.
- Applicant with criminal records will not be considered for the award.
- The winner of the Award shall become part of the TED network and sign an agreement of mutual understanding with TED.
- TED reserves the right to withdraw any applicant at any time if it is found that an entrant has knowingly provided false information on their application.
- The winner will be awarded only after confirming to all the conditions set by TED in the legal agreement.
- Previous winners of the competition will not be eligible to participate investment award.
Note 1: Entrepreneurs will be judged based on the above-mentioned criteria and must fulfill most of the criteria mentioned. Details of the criteria are available on our website tibetnentrepreneurs.org.
Note 2: Attested copy of the applicant’s updated green book should be attached along with the application form.
Note 3: Please include a revenue model as an attachment to this form (e.g. revenue and profit forecast for the next 2 years, break even analysis and any other information that you think may be valuable in terms of highlighting your revenue model).
Note 4: We strongly encourage the applicant to submit a business plan along with this application form to strengthen the chances of selection into the final rounds of judging.
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