HRH Prince Jigyel Ugyen Wangchuck Graces the Appointment Ceremony of BSV's New CEO
His Royal Highness Prince Jigyel Ugyen Wangchuck graced the appointment ceremony of Mr Tenzin Rabgay as the newly appointed Chief Executive Officer of Bhutan Sports Ventures Limited (BSV) — a moment that marks real momentum for the future of sport in Bhutan, and for the young athletes who stand to benefit from it most.
Speaking at the ceremony, His Royal Highness said, “BSV exists to give Bhutanese sport a sustainable future. I have every confidence that Tenzin’s leadership will carry this forward with the seriousness and ambition it deserves.”
Bhutan Sports Ventures Limited is the commercial venture entity established under Bhutan’s sports ecosystem reform, Ecosystem 2.0, to build a lasting, self-sustaining financial foundation for sport in the Kingdom. Its long-term structure and governance will be shaped further through the National Sports Strategy, with the Bhutan Olympic Committee as its founding institution. BSV is mandated to professionally manage and invest in the assets entrusted to it, develop new commercial opportunities, strengthen sporting infrastructure, and generate sustainable revenue that grows alongside Bhutan’s existing partnerships in sport. BSV’s role is to support and expand the commercial ambitions federations already have for their own sports, working alongside them, not in place of them.
Through strategic investment, business development, partnership and innovative commercial ventures, BSV will provide a dependable source of funding for sport in Bhutan, support the implementation of the National Sports Strategy, and invest directly in the growth of athletes, coaches, and National Sports Federations and associations across the country.
BSV’s creation is part of a wider transformation already underway across Bhutan’s sporting landscape, known as Ecosystem 2.0. The reform rests on a clear and hopeful principle: that every national sports federation should be empowered to own and grow its own sport, while the Bhutan Olympic Committee provides national direction, Olympic representation, and the shared standards that unite the whole system. In the months since the reform began, federations across the country have, for the first time, undergone genuine institutional review and entered into real performance partnerships — and several are already showing measurable, encouraging progress in governance and athlete development. BSV exists to carry this momentum further: to build the commercial engine strong enough to let Bhutanese sport continue to grow for generations to come.
Mr Rabgay brings extensive experience in business management, strategic planning, and institutional development to the role. He most recently served as Chief Operating Officer of Thimphu TechPark Limited, where he led operational execution and spearheaded the development of its Corporate Strategic Plan 2026–2035 and the establishment of the Bhutan Startup Launchpad in 2026.
Prior to this, he spent over a decade at Gedu College of Business Studies as Head of the Entrepreneurship Development Centre, where he established the Centre for Business Research and Entrepreneurship Development and secured both domestic and international funding for its work. He holds a Master of Business Administration in Innovation and Entrepreneurship from Symbiosis Institute of Business Management, Pune.
Mr Rabgay said: “I’m honoured to take on this role at such an important moment for Bhutanese sport, and I look forward to building something that genuinely lasts.”
Mr Rabgay’s appointment comes as Bhutan Sports Ventures builds on the early success of CAVA, its first flagship commercial event, and steps forward into a broader role: building the sustainable, lasting opportunities that will carry Bhutanese sport, and the people who make it, into its next chapter.
