Asia Corporation tops the list of emerging startups in Nepal

Asia Corporation Private Limited topped the list of emerging startups in Nepal.
India’s leading Business magazine – CEO Insights – has published the list of ‘Top 10 Emerging Startups in Nepal-2020’, where Asia Corporation is placed in number one.
The Kathmandu based company – founded by Sunil KC, who leads a think tank -Asian Institute of Diplomacy and International Affairs (AIDIA) – is providing large scale goods and commodities to public and private companies since its inception in 2017. Its services include industrial paper, photocopy paper, animal feeds, mosquito nets, chemical fertilizer, overhauled and maintenance services for helicopters and AI-related products, reads a press note from the magazine. “The company is also moving into technology-related products.”
“The Editorial board of CEO Insights has scrutinised the list via frequent deliberations by a renowned panel of industry’s topmost CEOs, directors, VCs, and industry analysts, throughout the year,” the magazine further writes, adding that evaluating the scenarios in versatile perceptions has brought CEO Insights to shortlist the startups which are creating a name for themselves through innovative business ideas, cutting-edge offerings, and unconditional customer support.
The magazine also writes that its objective behind publishing the list is to bring emerging startups in limelight and to guide individuals and businesses to partner with the Indian Companies as Indian companies are the major investors in Nepal and India’s first choice is Nepal for the investment destination.

Top 10 Emerging Startups in Nepal - 2020
1. Asia Corporation
2. Hamro Technology
3. Himalayan Wonders
4. JATA Digital
5. Mapleyak
6. Mero Network
7. My Careers HR Solutions
8. Palm Mind
9. Sarvanam Software
10. Vidinterest

Compliances, fines hurt innovative business practice

Through the multiplicity of compliance and vast number of fines imposed, smooth and efficient operation of an enterprise is a distant dream in Nepal. In the wake of such inadequacies and bottlenecks pertinent to innovative businesses, regulators and the regulated today discussed on ‘Facilitating Innovative Business Practices in Nepal’ to find out possible future steps that can be helpful to both the parties.
In the interaction organised by Samriddhi Foundation the participants highlighted that innovation in entrepreneurial ventures ultimately helps the economy but Nepal’s arcane laws either prohibit innovative practices like mobile businesses or ride sharing businesses or to a certain degree fail to create an environment for such businesses to prosper.
National Governing Council Member of the Nepalese Young Entrepreneur Forum (NYEF) Nivita Pradhan, on the occasion, voiced concern about finance as one of the major challenges that Nepali start-ups face.  She went on to explain how potential entrepreneurs lack assets for collateral to acquire loan at banks. Pradhan also stressed on lack of substantial research, policy irregularities, and lack of a one-stop mechanism for ecosystem players as few among the many reasons why the failure rate of startups is so high in Nepal.
“Start-up is a word that has been used, misused and abused as it is subject to one’s individual approach; hence, it is important that the government, legislature and the judiciary understand its definition and potential,” said Founder of Tootle Sixit Bhatta. He also stated how Tootle has protected the country and its people from economic shocks as everyone, ranging from professionals, students to homemakers, can become riders and use the platform as a transitional job involvement.
The session that began with a presentation by a researcher at Samriddhi Foundation Yatindra KC by giving a brief overview on the areas that require considerable scrutiny so as to propel entrepreneurial growth in Nepal, also witnessed advocate and partner at the Abhinawa Law Chambers Semanta Dahal, who used a rather philosophical and a thought-provoking approach to explain the need for innovation in the country. He stated that law can never catch up with the pace of technology, therefore, it is for us to ponder up if law should choke or cope with such changes.
“When you have paternalistic policies, the government’s role is going to be controlling,” Bhatta said, adding that we, however, need policies nudge people towards desirable outcome, rather than punish undesirable outcome. “Our policies need to be libertarian paternalistic.”
Pointing out the need to change the pattern of the existing notion of policy making and implementation and he said strongly believes that libertarian policies will better guide the society.
The participants, on the occasion, were also curious to know the imposed challenges and the support mechanisms in part of the government. In response to the queries, it was cited that that the country’s ever-changing laws and lack of awareness to make deliverables poses a recurring challenge. To tackle this gap of knowledge, an up to date research must be done and data reservoir created so that the government can keep track of the pace of the innovative industries and the entrepreneurs can keep themselves updated.
One of the panelists, chief executive officer of Health at Home Bishal Dhakal said that the laws exist in order to facilitate the young and vibrant ideas but apart from what the government is doing to facilitate the startup ecosystem, private individuals also need to be professional. “We as individuals also need to be proactive,” he said, adding that it is agreeable that changes are conceivable when everyone is liable to their duty; as policy makers or as policy drivers.

Second International Entrepreneurship Conclave ends

Indian Embassy in Kathmandu and Clock b Business Innovations successfully completed the second edition of Connect (IN) - International Entrepreneurship Conclave today.
Inaugurating the conclave, Indian Ambassador to Nepal Manjeev Singh Puri emphasised on the young entrepreneur’s energy. "In this era of globalisation the conference like this will play pivotal role to make platform for young entrepreneur to make connection between entrepreneurship ecosystem now and in the days to come," he said, adding that Nepalese youth are not only able to work in abroad but are also equally capable of investing in different sector such as education technology and hospitality sector and can generate employment opportunity and contribute for the development process of overall nations.
The conclave with a theme ‘To connect the great entrepreneurial minds of Nepal and India’ has helped build market connections between startups, entrepreneurs, investors, marketers, lawyers, auditors, government, universities and colleges, mentors, advisors, corporate leaders, incubators and accelerators, development partners, and business enthusiasts, according to the organisers. The conclave also aimed at aiding collaborative discussion and learning.
At second edition of Connect (IN), the young entrepreneurs got an opportunity to connect with investors, venture capitalists and mentors, discussed with the entrepreneurial ecosystem actors, learnt from the prominent entrepreneurial journeys and network with fellow entrepreneurs from India and Nepal.
One of the core objectives of second edition of Connect (IN) initiative was to scout startups, provide them with training and mentorship in the Incubation programme, and finally take the most promising startups to the finale. The organisers, on the occasion, also hosted series of college and youth-level promotional activities and Ideation workshops in various cities to look for the entrepreneurial enthusiasts.
After yearlong social media campaign, outreach activities that reach up to more than one million and partnerships, hundreds of applications were received. After screening these ideas, top 21 ideas were selected for 7 days 'Startup Incubation Programme.' Then, these 21 Startups went through Idea Auditions and finally 6 most promising ideas were selected for the Finale to Pitch their ideas in front of investors, media and entrepreneurs from Nepal and India. The top 6 ideas, who appeared in the finale are Airlift, Swadeshi Innovations, Maker Valley, Unschool, Offering Happiness, and Walkman.
Founder of You First Ventures &TransAsia Ventures Vikrant Gugnani, chief executive for India and South Asia at the OYO Hotels & Homes Aditya Ghosh, co-founder and managing director of IME Group Hem Raj Dhakal, chief executive of Prisma Advertising Ranjit Acharya, president at King’s College Narottam Aryal, editor of Karobar National Economic Daily Kuber Chalise, chief executive of Sushmit Group Sushil Pokharel, second secretary at the Indian Embassy in Kathmandu Kapidhwaja Pratap Singh, Venture Philanthropist and Social Entrepreneur Varun Saraf were few of the speakers at the conclave.
The chief guest for the conclave, chief advisior to the prime minister KP Sharma Oil Bishnu Rimal, on the occasion, said that youth are the engine of the nation. He also stated that for development process an enthusiasm is must and only the youth are enthusiastic by the nature for the great new idea and innovations that can be helpful for development process.
On 24th March 2018, Indian Embassy in Kathmandu and Clock b had successfully hosted its first edition, which brought together over 400 Nepali and Indian startups, entrepreneurs, investors, venture capitalists, aspiring youths, experts, high ranking Nepali and Indian government officials and representatives from media that provided a common platform for the exchange of innovative ideas between the entrepreneurial communities of the two countries.

MIT launches global start up labs in Nepal

The US-based Massachusetts Institute of Technology (MIT) launched MIT Global Start-up Labs (GLS) – a global initiative that promotes technology entrepreneurship among youths, especially in emerging nations – in Nepal.
Sri Lankan envoy to Nepal Swarna Perera; cultural affairs officer of US Embassy Grace Caroll; senior director of Nepal Telecommunications Authority (NTA) Ananda Raj Khanal; registrar of KU Professor Bhola Thapa, MIT’s Prof Amarasinghe, and MD of Ncell Amarasekera jointly inaugurated the MIT GSL in Nepal.
The MIT, Ncell and Kathmandu University (KU) will jointly collaborate to promote technology entrepreneurship in Nepal targeting the country’s technological advancement, a press note issued by Ncell reads. "This collaborative effort that focuses on mobile technology and entrepreneurship, will engage 35 selected students of KU to take part in an intensive boot camp where instructors from MIT will help them grow as entrepreneurs and foster start-ups."
The boot camp will last until August 2 starting today. MIT GSL-Nepal will last for seven weeks, during which the students will develop start-up projects, from ideation stage to execution, it adds.
MIT has been conducting such programmes since the last 18 years in 25 countries, including India and Sri Lanka in South Asia, promoting economic development by cultivating young technology entrepreneurs.
The MIT GSL programme focuses on mobile and internet technologies and is structured so that students are exposed to the commercial possibilities of technologies.
"We are delighted to partner with MIT and KU to bring the MIT GSL programme to Nepal," managing director of Ncell Suren J Amarasekera said, adding that it is in line with the company's vision to help nurture ‘technopreneurship’ spirit among young talent through innovation.
During the launch event, faculty director of MIT Global Start-ups Lab at MIT Prof Saman Amarasinghe said that the programme has trained nearly 3,000 budding entrepreneurs across the world to become leaders in the new information economy. "MIT has brought GSL programme to Kathmandu for the first time," he said, hoping that some of the participants will be able to use this experience to revolutionise Nepali digital ecosystem and even make a global impact.
Likewise, vice chancellor of KU Prof Ram Kantha Makaju Shrestha, on the occasion, said that the boot camp will provide the participating students an opportunity to get utmost exposure and encourage them to go back to their own community to identify their needs and the potential that exists in their own community and come up with innovative ideas that would be globally validated and propagated.

CG, Nimbus pledge to help start-ups

Chaudhary Group (CG) and Nimbus Group will help the start-ups with capital and other support.
Talking at ‘Finance Your Dreams’ – an interaction with some 450 young entrepreneurs organised by Himalyan Climate Initiative (HCI) – in Kathmandu today, CG Corp managing director Nirvana Chaudhary and Nimbus managing director Anand Bagaria pledged their personal and corporate commitments to help incubate start-ups in Nepal.
They also announced their personal and corporate commitments to help incubate start-ups in the country to boost entrepreneurship.
Speaking at the event, Chaudhary said the Chaudhary Group is always committed to supporting young start-ups with an information technology bent. "We are making a huge chunk of money available for young entrepreneurs and companies,” he said, adding that young entrepreneurs often find it difficult to access finance. "As entrepreneurs ourselves, we feel committed to make entrepreneurs in the society,” he added.
Chaudhary also suggested youths to develop a package of passion, energy, innovation and execution plans before starting any new ventures.
Likewise, Bagaria said core business start-ups come from entrepreneurs and then get supported by investors. "However, sometimes ideas also came from investors and will be picked up by young entrepreneurial talents."
Stressing on the need to develop incubation hubs in the country, Bagaria informed that such hubs would help create an environment where entrepreneurial ideas are exchanged and brought to fruition. “Nimbus is always positive to support start-ups of Nepali youths and develop entrepreneurship in the country,” he added.
A founder of HCI Prashant Singh, on the occasion, said that 500,000 new jobs should be created in the country each year to stop talented youths travelling to foreign countries in the search of work. "One entrepreneur can create three to five jobs,” he said, adding that only entrepreneurship would help in the development of a country’s economy.
He also said the aim of the event was to collect entrepreneurial ideas. "The ideas generated at the event would be further shaped at HCI Incubation Hubs and those which were ready for investment would be presented to potential investors for consideration.
HCI is a not-for-profit organisation that runs 'Social Innovation and Business Incubation Hubs' in Kathmandu and Nepalgunj.