The Fiji Enterprise Engine (FEE) – Accelerator Program, managed by the Fiji Commerce and Employers Federation (FCEF), has announced a new partnership with its former FEE cohort to bolster the initiative. The partnership was formalized through a memorandum of association signed at FCEF last Friday.
FCEF president Vinay Narsey expressed gratitude to the new partners for their continuous support of the FEE program over the years. He remarked on the program’s significant progress since its launch in 2019, appreciating the collaborative efforts that have contributed to its success.
The FEE program, a joint initiative between FCEF and various partners, has been supported by the Australian Government through its Market Development Facility (MDF) since its inception. Narsey noted the importance of this partnership, which has helped create a solid and inclusive program tailored to local micro, small, and medium enterprises (MSMEs).
In 2022, the FEE scholarship initiative was initiated with the help of MDF, allowing MSMEs to join the cohort through full and partial scholarships, thanks to support from the iTaukei Trust Fund Board and the Ministry of External Trade, Cooperatives, SMEs, and Communications. This year, the International Labour Organization (ILO) and the Reserve Bank of Fiji (RBF) have joined as partners, along with Capital Insurance.
The program has benefited 77 MSME owners through coaching in areas such as Accounting & Finance, Branding & Marketing, Strategic Management, Human Resource & Industrial Relations, and Entrepreneurship & Innovation. Participants also receive one-on-one coaching and mentoring as well as business compliance sessions.
Savenaca Baro, the acting CEO of FCEF and an integral part of the program since its start, highlighted the milestone of having alumni as partners and emphasized that collaboration is crucial for supporting MSMEs in any economy.
The FEE program promotes an environment where entrepreneurs can engage in open discussions about their challenges and aspirations, equipping them with the tools needed to thrive in a competitive market.
A total of 25 MSMEs have signed on to partner with FEE and FCEF, representing various cohorts from 2019 to 2023, alongside a group of dedicated coaches.