KATHMANDU: The Confederation of Nepalese Industries (CNIEF) and the Startup Network Nepal (TSN) have signed a Memorandum of Understanding (MoU) with an aim to make Nepal’s startup and entrepreneurship environment more robust, investment-friendly and nationwide.

As per the MoU, CNIEF and TSN will jointly conduct an incubation and acceleration program called ‘Founder’s Hub’. The goal is to promote 100 startups every year through the Founders Hub. New investment opportunities will be created for the participating startups through business development, consultancy, access to the industry, expansion of relationships, investment preparation and connecting with potential investors.

The MoU was signed by Manish Shrestha, immediate past president of CNIEF and Saugat Ojha, Chief Operating Officer of TSN. Under this partnership, CNIEF will facilitate its network of members and partner organizations to expand collaboration with potential sponsors, institutional partners, and other stakeholders for TSN’s programs.

This collaboration will not be limited to Kathmandu but will be extended to various cities and emerging entrepreneurship centers of Nepal. This partnership aims to bring innovation and entrepreneurship to different geographies of the country and create new businesses and entrepreneurs at the local level.