Bandar Seri Begawan - The website for the Future Fund was officially launched yesterday at the THINK BIG Innovate Forum 2012.
DST has joined forces with the Authority for Info-communications Technology Industry (AITI) and the Brunei Economic Development Board (BEDB) to help shape the Bruneian ICT industry, through the Future Fund programme, which aims to drive innovation, and creativity in Brunei.
Hajah Safrina binti Pehin Dato Abd Rahman, Manager of Group Corporate Communications at DST, and a member of the Future Fund marketing team took to the stage at the THINK BIG Innovate Forum to announce the launch.
"The Future Fund is created to invest in up and coming Bruneian ICT companies, giving priority to technology developed in Brunei and to generate business opportunities," she explained, adding that it was devised to assist entrepreneurs who have great ideas but little funding.
"Successful entrepreneurs will not only benefit from the funding, but also from the opportunity to link to a network of local industry players and international ICT entrepreneurs," she added.
She explained during the launch that with the Future Fund, a promising start-up can receive an investment of up to B$50,000 for the first tranche and a maximum total investment of up to B$150,000 per investee.
Hajah Safrina went on to say that mentorship plays an important role in the grooming of potential entrepreneurs.
"Potential entrepreneurs will benefit from receiving mentorship from ICT industry players such as DST, AITI, BEDB as well as iCentre," she highlighted.
As it was explained during the launch and in a press release from DST, the fund is open to the public, with the criteria being that the company needs to be at least 50 per cent owned by Bruneians, or for anyone who has a great idea.
Interested applicants can learn more about the fund and how to apply for it by visiting the programme's website, thefuturefund.com.bn, and application forms together with business plans are to be submitted to the iCentre.
It was also mentioned in the press release that should an applicant not have in depth knowledge of how to make a business plan, then he/she need not worry as the Future Fund can be contacted for assistance.