Kathmandu. Nepal-India Chamber of Commerce and Industry (Nikki) organized a “Startup Sambad Roundtable” at Dusit Princess Hotel in Kathmandu today.

A diverse group of budding entrepreneurs, young entrepreneurs, academicians, and experts from the industry and commerce sector participated in the program to analyze the realities of Nepal’s start-up sector and chart out the roadmap for awareness raising, advocacy, and institutional support for the sector.

The roundtable discussion chaired by Kunal Kayal, Vice-Chairperson and Coordinator of the Startup and Private Equity Committee of Nepal-India Chamber of Commerce and Industry (NICCI) informed that the association has continued its plans and efforts to create a strong entrepreneurial environment in the country to reduce the outflow of youths to foreign countries.

Participants pointed out significant barriers that are hindering the growth of startups. The main issues were raised especially related to infrastructure and procurement system as a hindrance to the development of this sector in Nepal. The startups said that the lack of testing laboratories and research parks for the products developed by any of the startups is serious. Subash Pandey of Agro Range Nepal and Bijay Bhattarai of Dio AI said that the government often gives priority to imported goods in the procurement process and called for a policy change that gives priority to local innovation.

He also said that the entrepreneurial youths would find it difficult to use the international payment system and there are complexities in bringing foreign investment to Nepal. He also reiterated the need to strengthen intellectual property (IP) and patent protection. From the difficulty of procuring specialized equipment to the perception that IT services are seen as a luxury in Nepal, the startups also pointed out the need for government agencies to become the initial customer users of indigenous goods so that the startup can create a smooth environment for startups in the initial phase.

Gaurav Tayal, Vice President of Nepal-India Chamber of Commerce and Industry (NICCI), welcomed the participants and emphasized that while Nepal has a strong group of innovators, they need protected mentorship and a simple exit system to succeed.

During the interaction, representatives from Kathmandu University School of Management (KUSUM) Associate Professor Roshi Lamichhane, Coordinator of the Startup Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Juna Mathema and Convenor of the Confederation of Nepalese Industries (CNI) Startup Committee Anurag Goyal shared their experiences on different segments within the ecosystem. He said that although there are various incubation centers and programs for the promotion of startups in Nepal, most of them are limited to a specific organization.

Mr. Sandip Katam, member of the startup committee of Nepal-India Chamber of Commerce and Industry (NIKKEI), comparing the successful ecosystems in Singapore and Bangalore, stressed on the need for Nepal to better utilize the experience of its expatriate community and build stronger linkages between academia and industry. ।

Concluding the program, Vice President of Nepal-India Chamber of Commerce and Industry (NICCI), Kunal Kayal, expressed the commitment of the association to take the issues raised during the discussion and conclusions to the policy level. “The challenges discussed today, from regulatory hurdles to market confidence, provide a clear roadmap for us to advocate for the development of this sector.” He also expressed his hope that the Nepal-India Chamber of Commerce and Industry (Nikkei) will further strengthen Nepal-India trade relations, expand the capacity of our start-ups and help build the blueprint of ‘Vision 2030’.

The startups participating in the program recently participated in a special training and mentorship program organized by the Government of India at IIT Madras, India.