The Bhutanese Leading the way.
At the recent Bhutan Innovation Forum (BIF), one of the discussions revolved around the theme of mindful innovation and entrepreneurship, highlighting how cultivating awareness, emotional regulation, and a realistic understanding of the business landscape can drive success.
Alex Von Frankenberg, Managing Director of The High-Tec Gründerfonds, opened the dialogue by emphasizing the role of mindfulness in entrepreneurship. “I feel that being mindful helps entrepreneurs understand their team and competition, making it essential for starting a successful business.”
Lisa Ginzberg, the Founder of Changa Institute, emphasized that mindfulness is crucial for successful entrepreneurship. Building a company requires a lot of energy and effort, and attracting talented people is key. To do this, a strong company culture must be created that appeals to those individuals, encouraging them to join and contribute to the company’s vision.
Nyema Zam, the Founder of Samuh Mediatech, spoke about the unique challenges in Bhutan, where the market is small but has access to global content. She shared, “Over the past few years, we’ve made great strides in producing a lot of local content. Unlike other streaming platforms that mainly acquire existing content, we focused on creating original programming. This approach allowed us to collaborate with local creative industries and foster creative entrepreneurship. In Bhutan, I believe that Samuh has been very aware of its social and creative impact, helping us reach our current success.”
She also shared that with the right ecosystem, infrastructure and investment in knowledge, our country has the potential to produce highly successful startups.
The discussion also touched on the challenges entrepreneurs face, particularly concerning capital access. Von Frankenberg acknowledged that while funding is vital, it’s possible for Bhutanese entrepreneurs to succeed even with limited resources. “In many cases, companies don’t require large amounts of capital. What they need is knowledge and the right support,” he advised.
He encouraged aspiring entrepreneurs to seek mentorship from experienced professionals, which could offer not just practical advice but also emotional support during the challenging startup phase.
Alex Von Frankenberg, highlighted the encouraging reception for Bhutanese products abroad. He shared his experience visiting a startup center in Thimphu, where a company successfully sold herbal massage balls to Germany. The response in the European market was overwhelmingly positive, as consumers appreciated the natural and healing qualities of the products.
Von Frankenberg believes there is a significant opportunity for local entrepreneurs to command premium prices in international markets.
Moran CerfI shared, “I don’t see any major concerns. The only reason it might take time is that it hasn’t been done much before, leading to some fear of being the first.”
He also shared the growth of Israel where he sees many similarities with our country. “Initially, there was uncertainty about whether Israel’s tech boom would succeed, but once it gained momentum, it grew rapidly.”
Von Frankenberg also discussed the potential of incorporating mindfulness into Bhutan’s startup culture. He believes that developing a “mindfulness city” could attract both local and foreign startups, especially given Bhutan’s proximity to India, which has a robust startup ecosystem.
Lisa Ginzberg emphasized the importance of fostering an environment where ideas can thrive. She attributed Silicon Valley’s success to its low resistance to new ideas. She said that for any country, including Bhutan, to achieve innovation and generate revenue, it must cultivate a culture that supports creativity and minimizes obstacles. She noted that Bhutan is already on the right path in this regard.
By embracing local talent, fostering supportive environments, and leveraging mindfulness, our country can emerge as a notable player in the global startup ecosystem.
