A MAJOR milestone has been achieved for Fiji, with 25 graduates under the Tertiary Scholarship Loan Scheme (TSLS) becoming the first recipients of the Graduate Business Startup Grant Scheme last Friday.
This initiative, designed to support graduates aspiring to become entrepreneurs, marks a significant step forward in fostering innovation and business development in the country.
Speaking during the launch of the grant scheme in Suva, Education Minister Aseri Radrodro said an increasing number of graduates had been turning toward small business development, making this program all the more relevant.
The scheme is Fiji’s first education sector business incubator program.
Recipients will participate in a six-month program that will provide them with essential skills, knowledge, and resources to help them succeed as entrepreneurs.
“This program is not just about funding; it’s about building confidence, independence, and the skills necessary to make informed decisions,” Mr Radrodro said.
“It is about empowering graduates to take the leap into entrepreneurship.”
He said globally, more graduates were choosing entrepreneurship as a career path because of better access to information and a desire for greater control over their futures.
“By offering grants, we’re providing the financial support graduates need to get their businesses off the ground,” Mr Radrodro said.
TSLS CEO Hasmukh Lal also highlighted the importance of small and medium enterprises (SMEs) in driving Fiji’s economy.
In 2019, the SME sector contributed about $356million to Fiji’s GDP, a figure Mr Lal confirmed with the Reserve Bank of Fiji.
“The ultimate goal is for students to enter the workforce and contribute to the growth of the SME sector, thereby absorbing more workers into this vital industry,” Mr Lal said.
“We hope that these 25 graduates will contribute even more to the GDP through their new businesses.
“Graduates have a higher success rate of starting and sustaining businesses, and we believe these new ventures will continue to drive Fiji’s economic growth.”
2. Minister for Education Aseri Radrodro and Tertiary Scholarship and Loans Service CEO Hasmuk Lal.
Vineshal Raj after the launch of Graduate Business Startup Grant Scheme last Friday.
Lusiana Dinawai during the Graduate Business Set Up launch at Tanoa Hotel. Picture: JONA KONATACI
Akshay Kumar during the launch on Friday.
Pictures: JONA KONATACI
4. Fiji Commission and Employers Federation president Vinay Narsey and board member Rowena Taito.
1. Minister for Education Aseri Radrodro and guests during the launch.
