Developing entrepreneurship among young Tibetans was the focus of a four-day project organised by the recently formed Tibetan Entrepreneurship Development Initiative (TED). TED invited top development executive Mr Sal Giambanco from the United States to share his expertise and experience in retail management, branding, and marketing of products and services with Tibetan business people, students and interested people in Tibetan settlements in South India.
Mr Sal Giambanco is a partner at Omidyar Network, an investment firm established by eBay founder Mr Plerre Omidyar in California. Mr Giambanco met representatives of The Federation of Indian Co-operatives in India (FTCI) in Bangalore where he stressed the importance of diversification, and gave examples of success stories of non-government organisations in India and elsewhere in uplifting the livelihood of poor and socially disadvantaged communities.
His meeting with FTCI was followed by a four-day tour of South India where he met people at Tibetan settlements, and stakeholders. He shared ideas and studied the economic viability of Tibetan settlements, exploring ways in which Omidyar could continue to support the revitalisation of the Tibetan community in India through entrepreneurship.
“Combining empathy with rigour is paramount to success” said Mr Giambanco, speaking to commerce students at the Dalai Lama Institute of Higher Education. He also stressed the importance of networking with role models outside the community to generate new ideas and bring innovation to the community.
Tibetan young people continue to settle in India and currently represent approximately 80% of young Tibetans living outside Tibet, despite migration to North America and Europe. It is these young people who will be the focus of the new TED initiatives as an investment in the long-term sustainability of Tibetan settlements.
TED is an initiative of the Finance Department of the Central Tibetan Administration (CTA) and aims to mobilise and amplify Tibetan entrepreneurial spirit. It is working to enable Tibetan entrepreneurs and businesses to become competitive and sustainable, to partake in global opportunities and contribute to the community’s economic well-being. TED aims to support existing businesses’ expansion and sustainability, as well as convert high-potential youth business ideas into successful ventures.
Mr Giambanco was accompanied on his tour by Mr Thinley Gyatso, Secretary of the Department of Finance at the Central Tibetan Administration; Mr Tenzin Wangyal, the TED Co-ordinator and Mr Karma Sangay, Chief Representative of South India Tibetan Settlements.
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