In recent years, new Nepali entrepreneurs have emerged. Although for these entrepreneurs, coming up with new business ideas might be easy; it can be quite difficult for them to develop those ideas into a profitable business. So, in order to nurture and guide these new entrepreneurs, startup accelerators and incubators have also emerged. These companies act as a platform for the new startups and provide them with opportunities allowing them to grow in the global marketplace.
Rockstart Impact is the very first accelerator in Nepal. It is a 100-day program designed specifically for Nepali entrepreneurs. Their mentors include various influential serial entrepreneurs, experts and investors from both Netherlands and Nepal. Rockstart has a wide network that includes 200+ local and international investors and its ultimate goal is to “strengthen the entrepreneur's capabilities and vision on how to grow their business. Not only the business has to grow. The entrepreneur needs to evolve as well.”
Biruwa Ventures, another one of Nepal’s most recognized firms for incubators that has been operational for the past 4 years. It provides new entrepreneurs with an office space and with the help of experts it helps aspiring entrepreneurs to make connections with mentors and receive business advice so that they can avoid making common mistakes that inexperienced entrepreneurs usually make. It is a great way to learn new things in order to grow your business and establish the kind of market you want for the product and service you aspiring to provide. With the help of incubators and accelerators, a budding startup can easily find themselves the right resources and support.
Another business accelerator, initiated by Nepalese Young Entrepreneurs’ Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma seeks to “add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy.” This not only helps the company develop their skills but also makes them more attractive to investors everywhere.
Likewise, the joint initiative of UNICEF, Idea studio launched its new business incubation center at the Kathmandu University School of Management (KUSOM). Idea studio with the help of KUSOM aims to aspire Nepali entrepreneurs to stay here in Nepal and invest their skills and ideas here with their promising theoretical and technical knowledge that will help participants to implement and work on their innovative ideas.
Every year, a large number of Nepalese go abroad in hope for better employment opportunities contributing to the countries brain-drain. The emerging accelerators and incubators can hopefully help establish and guide the young entrepreneurs and help them to make the most out of their innovation here in Nepal.