The Fiji Enterprise Engine (FEE) – Accelerator Program, managed by the Fiji Commerce and Employers Federation (FCEF), has formed a new partnership with its former FEE cohort to further support the initiative. This collaboration was announced following the signing of a memorandum of association at FCEF last Friday.
FCEF president Vinay Narsey expressed gratitude to the new partners for their ongoing support of the FEE program over the years. He highlighted the program’s significant progress since it began in 2019, stating, “The FEE program has come a long way, and it’s amazing to see the progress it has made.”
The Fiji Enterprise Engine is a collaborative effort between FCEF and several key partners. Notably, the Australian Government has been involved through its Market Development Facility (MDF) since the program’s inception. Narsey acknowledged the unique role that private-sector led accelerator programs play, crediting the Australian Government for sharing a vision to create a robust and inclusive program that caters to the needs of local micro, small, and medium enterprises (MSMEs).
The FEE scholarship initiative, launched in 2022 with the support of MDF, has allowed MSMEs to join the program through full and partial scholarships, thanks to the contributions of partners like the iTaukei Trust Fund Board and the Ministry of External Trade.
In 2023, the International Labour Organization (ILO) and the Reserve Bank of Fiji (RBF) joined as partners, alongside Capital Insurance, which also came on board this year. The program has benefited from the expertise of International Master Trainer Steve Cordiero, who has contributed significantly over the years.
Since the program’s launch, 77 MSME owners have received coaching in various areas, including accounting, finance, branding, marketing, strategic management, human resources, industrial relations, and innovation. They also engage in one-on-one coaching and business compliance sessions.
Savenaca Baro, acting CEO of FCEF and a key figure in the FEE program since its establishment, described the partnership with alumni as a milestone for the initiative. He noted the program’s growth since 2019 and expressed appreciation for the support it has garnered. Baro emphasized the crucial role that MSMEs play in the economy and commended the willingness of partners to support the FEE program, reflecting a commitment to foster growth and resilience in the business community.
Each FEE cohort forms a unique group of entrepreneurs who create lasting connections and networks that extend beyond the program. The culture within FEE encourages participants to embark on their entrepreneurial journeys, allowing them to identify gaps in their knowledge, learn, implement changes, and work toward bridging the gap between their current status and their aspirations.
Palinda Kaitu’u, the FEE Business Accelerator manager, highlighted the program’s supportive environment, which encourages MSMEs to engage in open discussions about their challenges and experiences. She remarked that this approach equips participants with the necessary tools and strategies to thrive in a competitive market.
The 25 MSMEs that have entered into partnership with FEE and FCEF include representatives from various cohorts, showcasing the program’s diverse impact.