Kathmandu. KATHMANDU: Nepal Chamber of Commerce (NCC) and Bennett University of India have signed a Memorandum of Understanding (MoU) to promote entrepreneurship, innovation, skill development and industry-academia collaboration. The memorandum of understanding (MoU) was signed at the Chamber Building in Jamal on Friday.

According to the MoU, the two organizations will establish a common ecosystem linking academia, industry, startups, investment community and policymaking levels through a long-term strategic partnership. The collaboration will implement programs in the areas of business skill enhancement, entrepreneurship development, work education, industry-academia collaboration, startup incubation and acceleration, leadership development, investment promotion, research and knowledge exchange.

Under the agreement, special training and executive education programs will be conducted for entrepreneurs, entrepreneurs, SME÷MSME members, and professionals in the areas of leadership development, digital transformation, artificial intelligence (AI), financial management, supply chain, international trade and environmental, social and good governance, among others. It will also collaborate on startup promotion, innovation mentorship, investor summits, business dialogues, policy research and future-oriented educational programs.

On behalf of Nepal Chamber of Commerce (NCC), Pankaj Jalan, President of Startup and Innovation Committee and Senthil Kumar, COO of Bennett University, signed the MoU. The agreement will remain in force for five years and can be extended with mutual consent.

On the occasion, Nepal Chamber of Commerce President Kamalesh Kumar Agrawal said that the historical, cultural and economic relations between Nepal and India were further strengthened with time.

Chairman Agrawal said that at a time when the global economy is rapidly moving towards Artificial Intelligence (AI), digital transformation, innovation and knowledge-based industries, it is imperative to connect Nepal’s entrepreneurs, youths, startups and entrepreneurs with skills, technology and opportunities required for global competition. The partnership with Bennett University, a recognized by the prestigious Times Group of India, will play a key role in helping Nepali entrepreneurs expand access to international knowledge, experiences, markets, and investment opportunities, by integrating modern technology, research, executive education and innovation with the private sector.

Rather than replacing human talent, AI will work as a tool to improve productivity, decision-making, innovation and business expansion, he said. Such international partnerships are indispensable to make Nepali businesses accustomed to digital technologies, data, AI and innovation-friendly business environment in the coming days.

Sudhir Kumar Pandey, AVP International Market, representing Bennett University, expressed his confidence that the MoU would contribute to strengthening the exchange of knowledge, technology, research, investment and entrepreneurship in promotion of startup ecosystem, youth entrepreneurship, job creation, industrial competitiveness and sustainable economic development.

Likewise, Startup Committee President of NCC, Pankaj Jalan said that such international partnerships are essential to make Nepali entrepreneurs accustomed to digital technology, data, AI and innovation-friendly business environment in the coming days. He expressed his confidence that the agreement would be the basis for future economic development for effective coordination between human capabilities and artificial intelligence. Yogesh Chhetri, a member of the Startup Committee of NCC, was also present in the program.