The Fiji Enterprise Engine (FEE) – Accelerator Program, managed by the Fiji Commerce and Employers Federation (FCEF), has revealed a new partnership with its former cohorts to enhance the program’s support. This collaboration was confirmed through a memorandum of association signed at FCEF last Friday.
FCEF President Vinay Narsey expressed gratitude to the new partners for their ongoing support for the FEE program over the years. “The FEE program has made significant strides since its establishment in 2019, and it’s great to witness its growth,” he stated, thanking everyone who contributed to the program’s success.
The Fiji Enterprise Engine is a collaborative effort between FCEF and several key partners. The Australian Government, through its Market Development Facility (MDF), has been involved since the program’s inception in 2019. Prior to FEE, private-sector-led accelerator programs were not common, and FEE is thankful to the Australian Government for helping to create a comprehensive and inclusive program that caters to local micro, small, and medium enterprises (MSMEs).
In 2022, the FEE scholarship initiative launched in collaboration with MDF, allowing the 2022 cohort to participate via full and partial scholarships, thanks to partners like the iTaukei Trust Fund Board and the Ministry of External Trade, Cooperatives, SMEs, and Communications. In 2023, the International Labour Organization (ILO) and the Reserve Bank of Fiji (RBF) joined as partners, with Capital Insurance also coming on board this year.
FEE has benefited from the expertise of International Master Trainer Steve Cordiero, who has been instrumental in the program’s development. Since the program’s launch, 77 MSME owners have received coaching in various areas, including Accounting & Finance, Branding & Marketing, Strategic Management, Human Resource & Industrial Relations, and Entrepreneurship & Innovation, alongside one-on-one coaching and business compliance sessions.
Savenaca Baro, acting CEO of FCEF, highlighted the significance of having alumni as partners. “FEE has significantly grown since 2019, and I appreciate all the support it has garnered,” he stated. Baro emphasized that collaboration is vital for success and underscored the essential role of MSMEs in the economy.
Each FEE cohort offers a unique blend of entrepreneurs who build lasting connections that transcend the program duration. The FEE program encourages participants to identify gaps, learn, adapt, and work towards their business aspirations in a supportive environment, allowing for open discussions about challenges and experiences.
FEE Business Accelerator manager Palinda Kaitu’u noted that the program fosters an inclusive atmosphere where MSMEs can engage in meaningful conversations, enabling them to address business challenges while developing strategies for a competitive market. She expressed appreciation for the support received from previous cohorts.
The 25 MSMEs that have entered into partnership with FEE and FCEF include representatives from various cohorts and coaching experts from different fields, contributing to the program’s growth and the success of its participants.