BETA to raise Nu 2.95mn through crowdfunding

BETA is an inclusive world-class technology-enabled education and innovation ecosystem

Bhutan Education and Technology Academy Park Private Limited (BETA) aims to raise Nu 2.95mn through crowdfunding platform.

Chief Executive Officer (CEO) of BETA, Kezang said that the single-minded objective for this social impact crowd-fundraising initiative is to provide assistance to those who seek further education, knowledge and wisdom on their life-long journey towards securing a better future.

He mentioned that with the undergraduate diploma or degree they offer, they have a better chance at being gainfully employed, self-employed or becoming an employer creating opportunities for others. “This is especially true in the case where they determine not just their future also that of their families, communities and the society at large.”

BETA’s goal is to raise Nu 2.95mn to cover 35 students across five different scholarship categories, for the first batch of 108 learners starting classes on February 18, 2021. As of date, they have been able to raise Nu. 229,800, which is a meager 7.8% of target amount but a good starting point for a genuine social cause.

“BETA was formally registered as a private limited company on November 2, 2020. Our startup cost was close to Nu 10mn,” said the CEO.

He said that numerous studies and market research findings have revealed time and again that there is haphazard access to new technologies and lack of an employable workforce. “Majority of the graduates coming out of the current system are not market-ready and bankable, resulting in increasing unemployment trend in the country.”

He said that this cross-cutting problem has manifested in challenges currently facing the Bhutanese economy like limited technology and business skilled talent pool; large number of students going abroad to pursue higher education; mismatch between education and job market needs and lack of entrepreneurial culture and “product-first” mindset.

“BETA aims to contribute to addressing these problems by building an employable and a future-ready human talent pool,” said the CEO.

He said that the solutions suite, therefore, focuses on delivering a global economy entrepreneurial workforce by harnessing technology for equity in education.

He also said that target donors are generous people who want to make a difference in the lives of BESS scholars, which should translate to a brighter future for themselves as well as for Bhutan’s future as a fast developing country.

According to the Royal Securities Exchange of Bhutan, three organizations have raised money through crowd-funding: Ability Bhutan Society, Impact Bhutan and BETA of which Ability Bhutan has successfully raised a fund of Nu 0.724mn as of now.

So far, there are two types of crowd-funding: equity and donation.

BETA is an inclusive world-class technology-enabled education and innovation ecosystem. It is conceptualized as a self-sustaining community thriving on creativity, inclusivity, innovation, diversity, cultural-sensitivity and collaboration through mindfully deploying appropriate technologies for education and life-long learning of people from all walks of life.

Through their international franchisor, London Institute of Business and Technology (LIBT), they have introduced internationally-recognized and market-tested tertiary education program and professional development training courses.

BETA’s tertiary education vertical will evolve into a full-fledged autonomous higher education hub in the near future.

The BETA team is composed of experienced professionals and life-long learners who have been in numerous servant leadership and strategic management roles spanning across different industries and walks of life including public, private and non-profit (civil society) sectors.

Dechen Dolker from Thimphu