The Fiji Commerce & Employers Federation (FCEF), in collaboration with the Tertiary Scholarship & Loan Service (TSLS), has launched Fiji’s first private sector-supported education sector business incubator program—the Graduate Business Start-Up Grant Scheme.
This pioneering initiative is designed to support graduates with entrepreneurial aspirations, providing them with financial backing and essential business development resources. By fostering self-confidence, independence, and informed decision-making, the program equips young entrepreneurs with the skills and knowledge necessary to succeed in the business world.
A Multi-Faceted Business Incubator
The Graduate Business Start-Up Grant Scheme adopts a structured business incubator model targeting 25 TSLS-sponsored graduates. The initiative offers grant funding to help graduates transform their ideas into sustainable businesses.
At the launch event, the Minister for Education, Hon. Aseri Radrodro, commended TSLS and FCEF for their partnership in this initiative. He highlighted the significance of FCEF’s role as the voice of the private sector and emphasized the program’s potential to provide meaningful support to graduates.
Hon. Radrodro also congratulated the selected 25 graduates, acknowledging their dedication and hard work.
You have worked hard to get here, and I wish you all the best on your entrepreneurial journey,” he stated.
A Milestone for FCEF
For FCEF, the launch of the incubator program marks a crucial step in reinforcing its commitment to entrepreneurship and business development. FCEF President, Mr. Vinay Narsey, emphasized the importance of collaboration in fostering entrepreneurial success.
Through our partnership with TSLS, FCEF is creating new pathways for graduates who are passionate about entrepreneurship, equipping them with the necessary tools and support to transform their ideas into thriving businesses. As this pilot cohort embarks on their journey, FCEF eagerly anticipates the impact these pioneer entrepreneurs will have on Fiji’s business landscape,” he said.
A Comprehensive Learning Experience
The program commenced this week with the first cohort of 25 students beginning their classroom sessions. The curriculum includes essential business topics such as:
In addition to classroom learning, participants will engage in group coaching and mentoring sessions led by seven trainers and coaches. MSME Fiji is facilitating ILO’s SIYB (Start & Improve Your Business) sessions in finance and Greening Your Business.
The program also incorporates business attachments, allowing participants to gain hands-on industry experience, refine their business plans, and benefit from expert guidance.
Each participant will receive a grant of $5,000 as part of the incubator program, providing crucial financial support to help launch their businesses.
Building a Stronger MSME Ecosystem
The program is administered under the Fiji Enterprise Engine Banner managed by the Fiji Commerce & Employers Federation. Program Manager Palinda Kaitu’u highlighted the importance of investing in entrepreneurship to strengthen Fiji’s MSME sector.
To build our MSME sector in Fiji, we need to invest in entrepreneurship. We need individuals with a heart for business and the courage to step out of their comfort zones. This cohort represents that group of pioneer graduates. By creating a platform for capacity building, coaching, mentoring, networking, and financing, we are establishing a launchpad to expand the MSME ecosystem in Fiji,” she said.
She further emphasized the long-term impact of entrepreneurship on national development: “Build your people, and your people will build your business. Build our MSMEs, and our MSMEs will build our nation.”
A Promising Future for Young Entrepreneurs
With this groundbreaking initiative, FCEF and TSLS are paving the way for a new generation of business leaders. By providing the right mix of financial support, education, and industry exposure, the Graduate Business Start-Up Grant Scheme is set to transform the entrepreneurial landscape in Fiji
