Targetting young aspiring entrepreneurs and indigenous (Bumiputra) business owners, I-Usahawan represents an entrepreneurship development initiative by the Ministry of Energy, Manpower and Industry (MEMI) in collaboration with Brunei Shell Joint Venture (BSJV) Companies to help provide a platform for Bumiputra-owned start-up companies and young Brunei Entrepreneurs from the age of 21 to 40 to secure their first BSJV contract.
As such, the I-Usahawan as a whole, represents a Youth Entrepreneurship Development Programme to help support and aid young Bruneian entrepreneurs to start, own and grow their own business; while securing their first contract with the government, government link companies and statutory bodies.
The I-Usahawan programme has over 30 contracts from Brunei Shell Petroleum Co Sdn Bhd, Brunei LNG Sdn Bhd, PETRONAS Carigali Brunei Ltd, Brunei Gas Carriers Sdn Bhd, Brunei Shell Marketing Co Sdn Bhd, Brunei National Petroleum Company Sdn Bhd (PetroleumBRUNEI), TEPB E&P Borneo BV and Brunei Methanol Company Sdn Bhd.
Furthermore, being in line with BSJV’s In Country Value (ICV) Initiative, the I-Usahawan programme also aims to help bolster the potential workforce by providing its participants with training for them to start as well as develop a business. This in turn will help provide job opportunities for Bruneians while simultaneously allowing young Bruneian entrepreneurs to have direct contract with oil and gas operators.
During the start of the programme, the participants are briefed on the various available contracts by the companies over the course of months in various parts of the district, before the Expression of Interest (EoI) is issued. Over the course of the programme, participants are provided support through a Start-Up Accelerator programme which consists training relevant to the available contract, as well as being invited to a competitive tender exercise for selected contracts to familiarise themselves the process involved.
When the actual tenders for the contract are released and are applied by the participants, the tenders will be evaluated by the companies and subsequent contracts will be awarded to those who meet the criteria.
During this time, the MEMI monitors and provides resource support, while contract owners are to identify contract for ring-fencing and Darussalam Enterprise (DARe) will provide the training platform for participants of the programme.
Successful participants will be awarded a three-year contract in their relevant field with potential extension and will have access to the BSJV Credit Facility Programme through Bank Islam Brunei Darussalam (BIBD) or Baiduri Bank. Furthermore, experienced business mentors will be assigned to the participants throughout the contract period.
With the programme underway with a planned roadmap over the course of 2019 and beyond, it represents one of the many initiatives rolledout to by MEMI and BSJV to realise His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s vision to boost economic growth, especially in encouraging SMEs to permeate the regional and international markets.
Copyright 2019 Borneo Bulletin Yearbook 2019 All rights reserved.