World News | Startups Can Resolve Nepal's Unemployment Problem: Industrialist

Kathmandu, Jun 25 (PTI) The Nepalese government should play the role of facilitator for the growth of startups to resolve the country's unemployment problems if implemented effectively, renowned industrialist Binod Chaudhary said here on Saturday.

Speaking at the 'CNIYEF Nepal StartUp Fest 2022' that kicked off in the Nepalese capital of Kathmandu, Chaudhary, Nepal's sole billionaire, said creative ideas and entrepreneurship was more important for a startup than capital.

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The Startup Fest, an initiative of the Confederation of Nepalese Industries Young Entrepreneurs Forum and supported by the Embassy of India among others, was on Saturday inaugurated by Minister for Industry, Commerce and Supplies Dilendra Prasad Badu.

A host of speakers on the occasion asked the government to create favourable ecology for young entrepreneurs instead of trying to control them through various regulations.

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"In Nepal, there are three major challenges facing startup businesses, including capital, mentorship, and proper teams," pointed out coordinator of the fest Ayusha K.C.

He said the fest was aimed at filling that void and solving these challenges.

According to the organisers, an investment up to Rs 500 million will be provided to 10 selected projects out of 300 applications.

More than 500 young entrepreneurs, business leaders, government officials, and students attended the programme.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)