Twenty-two university graduates have embarked on an intensive crash course in business management as the Graduate Business Start-Up Grant Scheme kicks off this year in Suva. This initiative, now in its second year, is a collaboration between the Fiji Commerce and Employers Federation (FCEF) and the Tertiary Scholarship and Loan Service (TSLS), which oversees government education scholarships.
This year marks the introduction of the University of New South Wales (UNSW) as a new international partner. FCEF president Eldon Eastgate announced the launch of this initiative, affirming its commitment to nurturing aspiring entrepreneurs.
The scheme, which will span six months, aims to provide participants with essential business development services. These include market research, business training, advisory services, coaching and mentoring, assistance in drafting and finalizing business plans, a start-up grant of $5,000, and linkage to various funding opportunities. Graduates will also benefit from an entrepreneurship attachment that includes an allowance, giving them a practical platform to launch their businesses.
Eastgate emphasized the significance of UNSW’s involvement, highlighting its status as Australia’s leading education sector business incubator. Top-performing participants will have the chance to gain further support through UNSW’s Founders & Global Innovation Foundry program.
The program will also collaborate with several local initiatives, including the Innovation Hub Fiji and the FINTECH Innovation Hub of the Reserve Bank of Fiji. This multifaceted approach will equip graduates with technical assistance, funding, and extensive networking opportunities that are crucial for business success.
FCEF’s unique business incubator, the Fiji Enterprise Engine (FEE), will utilize its robust business intelligence to support emerging entrepreneurs along their journey. This grant scheme exemplifies a strong Public-Private Partnership model designed to enhance youth employment, foster entrepreneurship, and stimulate private sector growth—efforts that are vital for building economic resilience in Fiji.
TSLS chairwoman Ro Teimumu Kepa highlighted that the program goes beyond mere financial support. It offers structured backing, mentorship, accountability, and guidance on governance, emphasizing the broader impact of the initiative. The scheme plays a pivotal role in strengthening Fiji’s innovation ecosystem, promoting small and medium enterprise development, and fostering economic diversification.
The specific business ideas presented by the graduates remain confidential to protect intellectual property. However, they encompass a wide array of sectors, including agriculture, services, and food businesses. This initiative stands as a beacon of hope for the future of entrepreneurial development in Fiji, aiming to increase the contribution of MSMEs to the national GDP from the current 18% to an ambitious 40%.