India-Nepal Startup Summit 2024 Commences In Kathmandu

The India-Nepal Startup Summit 2024 in Kathmandu fosters collaboration, innovation, and investment, promoting Nepal's growing entrepreneurial ecosystem.

Image: ANI

The India-Nepal Startup Summit 2024 has commenced in Kathmandu today, bringing together entrepreneurs, investors, and policymakers to foster collaboration and innovation between the two nations. This summit aims to create a platform for startups to network, pitch their ideas, and explore opportunities for growth and investment.

The event organised by Startup Network (Nepal) in collaboration with the Confederation of Nepalese Industries (CNI) and PHDCCI (India- Nepal Center) brought experts from various fields to one platform.

The summit featured keynotes, panel discussions, startup pitching sessions, and networking opportunities to empower entrepreneurs with the knowledge, resources, and connections they need to scale their ventures.

"Nepal as a developing nation faces various challenges such as unemployment, dependence on foreign aid and trade deficit. Startups however are the beacons of hope in addressing these challenges. It creates jobs, generates revenues and diversifies the economy. For individuals, it pursues innovative ideas and launches businesses, which contribute to GDP growth and help reduce our reliance on traditional industries and agriculture," Kamlesh Jain, the Co-Chair of India-Nepal Center PHD Chamber of Commerce and Industry in his remarks.

The summit was organised with the aim of bridging the gap between local startups and international investors, attracting significant investment into Nepal's burgeoning startup scene. The organisation plays a pivotal role in connecting startups with investors, mentors, and resources, thus supporting Nepal's emerging entrepreneurs and innovators.

"Nepal is a country of about 30 million people, the median age is less than 25 years which is even younger than India and we believe that Nepal's dream to transform itself economically will be anchored on its youths, entrepreneurship- that we saw entrepreneurship from Meesa-Pasa. Youths here really want to take their ideas forward; Nepal's startups are coming out of age. Kathmandu may be a well place where it can be the startup capital of the Himalayas; when you see a Nepali shark tank on TV you would know that startups are the public discourse," Suman Shekhar, First Secretary- Commerce at the Indian Embassy in Kathmandu said.

Through its comprehensive incubation program, the Startup Network is already making waves in the entrepreneurial landscape. This bi-monthly initiative supports startups from the inception of an idea to the creation of a compelling pitch deck.

Entrepreneurs benefit from personalized mentorship provided by a dedicated team of successful startup mentors and entrepreneurs, who guide them through the critical stages of idea validation, business model development, and market entry strategies.
In addition to its incubation activities, The Startup Network is establishing its venture fund to further support startup growth. This fund will provide crucial financial backing to promising startups, enabling them to scale and succeed in competitive markets.

"As you grow these startup eco-systems in Nepal, please make a note that we started formally in 2016 with the Prime Minister announcing Startup India and its entire concept which has grown and become the third startup ecosystem in the world in terms of startups. There is complementarity, we need to work and leverage it. The embassy will do it on its own but you need to do it yourself- reach out to your friends with whom you got into university together, reach out to your colleagues who are known to you from families, reach out to the companies who're working on these and names you've read out in the global newspapers, reach out to them. They in India also need to be aware of what you can do, just as you need to think of them as partners who can help you in your greater goal which might be India or overseas or United States or wherever in the world," Manjeev Singh Puri, Chairman of India-Nepal Center, PHDCCI and also the former Indian Ambassador to Nepal highlighted while addressing the inaugural session.

The Startup Summit Nepal 2024 served as a launch pad for some of the ambitious plans, showcasing Nepal's vibrant entrepreneurial spirit to a global audience and positioning the country as a key player in the global startup ecosystem.

Entrepreneurs, investors, and industry leaders attended the Startup Network at Startup Summit Nepal 2024 to explore the future of innovation, forge meaningful connections, and drive the next wave of entrepreneurial success in Nepal and beyond.