MoI plans to focus on ‘entrepreneurship’

Kathmandu, April 23

The two-day ‘Start-up Summit’, which is scheduled to be held in Kathmandu on June 7-8, will focus on entrepreneurship development in Nepal, according to the government.

Organising a press conference in the Capital today, Ministry of Industry (MoI) — the organiser of the event — informed that the summit will bring together more than 300 domestic youths and different other private and government stakeholders to discuss, interpret and find possible solutions to promote entrepreneurship in Nepal.

As the event basically focuses on youth entrepreneurship, the event will also be participated by a number of domestic and foreign youth entrepreneurs who have had a successful business history as resource persons. They will be sharing their business ideas and experiences among potential entrepreneurs in the country.

“We all have now acknowledged that industrial growth is the base for economic prosperity and the entire development process. Promoting entrepreneurship is a key factor for industrial growth,” Industry Minister Nabindra Raj Joshi said, adding that the Start-up Summit aims to encourage youths and other potential investors to invest in different businesses.

Similarly, Joshi also informed that the summit is a platform where potential Nepali entrepreneurs will get to know about international trends in entrepreneurship development and ideas to run a successful business from successful domestic and foreign business leaders. “The need for Nepal today is to acknowledge technology and trends in foreign businesses and economies. The Start-up Summit will have enough deliberations and discussions on it,” he stated.

The summit will be organised with the slogan ‘Entrepreneurship development for prosperity’, according to MoI.

Industry Secretary Shankar Prasad Koirala said that the Start-up Summit will be a milestone event to help create a favourable environment in the country for entrepreneurial growth.

“Nepali people and basically youths have numerous businesses ideas. The summit will help execute these business ideas of potential entrepreneurs,” he said, adding that MoI has plans to support potential business ideas to generate the necessary capital to start the businesses.

According to Koirala, the Start-up Summit will also take stock of existing initiatives and activities by various state and non-state actors in the country, which are aimed at creating and nurturing a start-up ecosystem in the country.

Meanwhile, MoI has already formed a separate Start-up Committee, which is currently working for entrepreneurship development in the country.

Through the Start-up Summit, the government also aims to encourage domestic investment in different micro, cottage, medium and large industries. MoI is of the view that substantial investment from domestic investors in different sectors will encourage foreign investment in Nepal.

The Nepal Entrepreneurs’ Forum, Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Federation of Nepal Cottage and Small Industries, among others are supporting the Start-up Summit.