Applications are being invited from startup entrepreneurs to raise investment

KATHMANDU: TUESDAY, MARCH 23, 2021 – The Startup and Innovation Committee under the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is going to invite applications from 50 startup industries / businesses based on innovative thinking. The committee has organized a press conference on Monday to open applications for such industries from the third week of Chaith.

The committee has informed that the best 50 startup industries and businesses will be selected from the applications submitted during the application period opened by the committee. However, the committee has stated that only those who have completed one year of operation will be eligible to apply.

The selected businesses will be included in the three-month mentorship (entrepreneurship training and counseling) program to reach out to investors. The committee has stated that it will arrange 20 mentors for this program. Under this, on the first Friday of the English month, discussions will be held with successful entrepreneurs. The committee has stated that the program will be supported by the Ministry of Industry, Commerce and Supplies, ILO, ECMOD, Kathmandu Metropolitan City, Kathmandu University, Antarprerna and district-based chambers of commerce.

The objective of this program is to remove the operational and policy barriers for startup business in Nepal and to make the business easier. Similarly, as Nepal is ranked 109th out of 126 countries in the World Startup Index, it is necessary to develop and expand startups. As the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has set a target of creating 400,000 jobs annually, the program will help achieve that goal.