FNCCI to Support Investment for 50 Startups Business:
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has decided to mobilize 50 established entrepreneurs to run the business of 50 startups. The Startup and Innovation Committee formed by FNCCI will mobilize investors for the business success of innovation based on innovative thinking.
Through the Investor Forum under the committee, 50 startups and investors will be interviewed and assisted in investment and business partnerships. The committee will open applications from across the country from the third week of Chaitra from the FNCCI website. It is mentioned in the working paper submitted by the committee that the startup should have been in operation for at least one year or more to participate in this call.
"Applications will be open to all sectors such as agriculture, manufacturing, services, and information technology." The committee will provide three months of entrepreneurial development training to 20 selected startups from selected experienced startups. This process will be repeated every three months. The committee has said that it will take initiative with the government to bring a policy suitable for startups and also cooperate in lawmaking. The committee has mentioned that 4/5 selected startups will be given a place in its secretariat by the federation.
The committee formed under the chairmanship of Ranjit Acharya, a member of the executive committee of the federation, will work to find investors for startups in Nepal. The committee will fill the gap between big entrepreneurs and innovators. If the new entrepreneur needs capital, investors will invest in such ventures if they like. The committee has stated that the details of 50 innovators will be made public after the list is ready.
Speaking on the occasion, FNCCI President Shekhar Golchha said that startups have been given priority in one of the important objectives of Vision 2030 prepared by the federation. "This is the first time the committee has been formed at FNCCI," he said, adding that "it will help meet the target of creating 400,000 jobs a year through the Economic Transformation Roadmap." He said that he would work under the Ministry of Industry, Commerce, and Supplies, and various other organizations to encourage startups.
