Program Elevate FAQs
Why was the Program Elevate developed?
Program Elevate was developed based on business growth challenges faced by established businesses. Some of the challenges include:
- Getting the products to be “export-ready” and ensure certain standards are met.
- Getting the right kind of advice and information on how to access new regional, national and international markets.
- Having the right and relevant market information to understand the targeted country particularly customer preference, trends and competitors.
- Making the right connection to open the door to new opportunities and best practices.
- Access to finance such as raising funds or obtaining grants.
- Being resilient to change in the economy or markets that can hinder business growth.
- Developing and building an effective team.
How is the program structured?
A Business Review is the first phase of Program Elevate where DARe-appointed consultants will conduct deep dive analysis into each business to identify gaps and weaknesses, and assess growth opportunities, and develop a mutually agreed strategic roadmap.
- Subsequent phases (depending on the business’ roadmap) may also include:
- Capacity Building Program for participants to increase knowledge and business skills as identified in the first phase (Business Review).
- Immersion Program to understand better their target market, import requirements, various funding options and solutions, and key information for successful market entry.
- Franchise Development Review is where proper information and analysis can help to evaluate the readiness of a business before developing a franchise strategy and system.
- Export Facilitation Program is a program that will assist businesses to be more export-ready and to penetrate the international market.
What can companies expect and benefit from the program?
- Access to DARe initiatives such as Standard Consultancy Programs, Industry Business Academy, DARe LINKS initiatives, Bruneian Made initiatives.
- Opportunities to participate in the overseas expo, trade fairs, business matching and networking session.
- Access to finance (subject to meeting requirements).
- Get access to the technical team for development and advice.
- Access to a tailored one-to-one mentorship with an experienced entrepreneur.
- A dedicated Business Relationship Manager (BRM) for progress monitoring.
What is the duration of each cohort of the program
The business review will run for 6 months followed by the subsequent phases subject to the strategic business roadmaps. The Elevate team will regularly monitor the growth of participating companies over a five year period and are expected to submit a progress report every 6 months.
What is the selection process for applicants?
The selection process to join this program is as follows:
Step 1: Submission of the application form & required documents before the deadline
Step 2: Assessment of application form & documents including company visit
Step 3: Final selection of participants
Step 4: Signing of the contract with DARe
How many companies will be chosen for each cohort?
The committee will select a diverse group of up to 20 growth-minded businesses for each cohort.
Is there any payment to join the program?
Selected participants are required to pay a commitment fee subject to terms and conditions.
How can companies find out more about the program or hear news about programs and initiatives under DARe?
If you have specific inquiries about the program, you may send an email to Program Elevate at email@example.com
To stay updated on general DARe programs, including new application openings for this program, do follow us on Instagram at @darussalamenterprise, or subscribe to our weekly newsletter through this website’s home page.