Kathmandu, February 3

At a time when government is gearing up to promote entrepreneurship in the country, Chaudhary Group (CG) and Nimbus Nepal have announced they would incubate start-ups in Nepal.

Addressing the country's youths amid an event titled 'Finance Your Dream' in the Capital today, Nirvana Chaudhary, managing director of CG Corp, and Anand Bagaria, managing director of Nimbus Nepal, announced their personal and corporate commitments to help incubate start-ups in the country to boost entrepreneurship.

"CG is committed to support young start-ups with information technology and we are planning to set aside some funds to facilitate such young entrepreneurs and companies in Nepal," said Chaudhary.

According to him, young entrepreneurs often find it difficult to acquire necessary finance, as banks and financial institutions generally do not have much to offer to the inexperienced-yet-promising youths.

"In such a context, I believe the government should also play an active role in promoting incubation environment in the country," he added.

Chaudhary also suggested youths to develop a package of passion, energy, innovation and execution plans before starting any new ventures. "Capital is not as big a problem for start-ups any more. If your idea is innovative and fascinating, funding will follow you instead," added Chaudhary.

Similarly, Bagaria said that the core idea for a business start-up comes from both entrepreneurs and investors. "We generally think that an idea comes from an entrepreneur and gets supported by the investor. However, we tend to forget that many a times it also comes from investors," he said.

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.

Meanwhile, Prashant Singh, founder of Himalayan Climate Initiative (HCI), informed that one of the biggest challenges facing Nepal at present is to create a large number of employment opportunities for the country's youths, which is only possible by creating an enabling atmosphere for setting up businesses that generate more jobs.

"This event aimed at helping the country's most resourceful individuals from the field of business to directly contribute towards improving start-up ecosystem in Nepal," said Singh.

The event was organised by HCI, which runs Social Innovation and Business Incubation Hubs in Nepal.