Opportunity for 50 startups in Nepal!

The Federation of Nepalese Chambers of Commerce and Industries (FNCCI) has announced that they are working to promote 50 startups! 

This is a great step towards promoting and utilizing Nepalese potential. There are so many greatly visioned startups with amazing aims that will enjoy this.

For a better focus on these developments, FNCCI has formed a Startup and Innovation Committee within itself. The chairperson of this Committee is Mr. Ranjit Raj Acharya.

Also Read: Why are Nepali Startups losing to foreign competitors even within the Nepali market?

HOW TO APPLY?

The sources claimed the applications will be opened by the third week of April.

The application eligibility criteria are not very strict and are very open. 

The startups applying must be operating for a year or more. They must have audited their financial transactions for at least a year too. 

Mr. Acharya claims, any business with the modern thinking of any field can apply for this. From agriculture to technology to environmental to the communal good. 

The start-up is selected based on need and potential.

The federation will prepare the first shortlisted selection by the second week of May and the final 50 will be called in for an interview in the last week of May.

They will make the selected startups public only in June. 

What will the federation do?

The committee intends to review applications and shortlist 50 startups for the process.

The federations not only provide investment but will also provide the startups with mentorship. The mentors will be Anil Chitrakar, Pashupati Murarka, Omraj Bhandari, Saurabh Jyoti, and Ashutosh Tiwari. 

FNCCI President, Mr. Shekhar Golcha claims that the startups selected will be identified and supported for their growth while helping them through capital investment. At least 50 investors will be provided with a platform for interaction under the committee’s plans for this journey. 

FNCCI is very keen and active in promoting individuality and startups in Nepal. They also have an Innovation Hub in their FNCCI main building. This hub is a library as well as a space for people to come work and explore their innovation and creativity. The Hub offers a wide range of resources for entrepreneurs like Incubator desks which gives them a workspace as well as necessary resources with books and specialized computer resources. It is also open to the general public with its vast books and programs for children as well as adults. 

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