Kathmandu, July 1

Nepalese Young Entrepreneurs’ Forum (NYEF) opened applications for ‘Enterprise: Nepal Business Accelerator Programme’ today.

Enterprise is the first business accelerator of its kind operated by the private sector in Nepal, as per a press statement. “It seeks to mentor newly set up Nepali companies to build better products, raise funds, and move to the next level of business growth.”

Following a rigorous application process, accepted companies will attend a 12-week mentorship based professional guidance programme that aims to help their businesses grow and attract new investors.

The companies will get an opportunity to work with industry experts to reassess their business models, re-align their vision and objectives, plan their finances, get legal consultation, and ultimately develop internal resources to target a high level of growth. Apart from these, they will also attend various investor networking sessions, according to the statement.

To conclude the programme, the companies will present their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day.

In order to be eligible to apply for this programme, companies need to have been in operation for at least two years, be seeking investment, and have a team of passionate founders who want to take their companies to greater heights, the statement adds.

Ajay Shrestha, programme director at Enterprise, has been quoted as saying, “In Nepal, a lot of small and medium size enterprises do not have the resources to grow. A business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy.”

This programme has been initiated by NYEF in partnership with Centre for Creation of Economic Wealth at the University of Oklahoma and is managed and funded by True North Associates, an investment, consulting and management firm based in Nepal.