February 17: The Startup Campaign Committee under the Confederation of Nepalese Industries (CNI) organized a discussion programme with the objective of defining startup business and facilitating policy makingin the context of Nepal.

Although the government is launching a startup business promotion program, it has not yet come up with a clear definition and procedures. The confederation organized the discussion programme with the objective of assisting the government in policy making.

The government has announced in the budget to provide seed capital for the promotion of startups since last year. However, due to lack of procedures, it has not been implemented yet.

The confederation emphasizes on the need to promote young entrepreneurs with innovative thinking by implementing the programmes announced by the government.

During the discussion, Secretary of the National Planning Commission Kewal Prasad Bhandari said that the program is being implemented with the objective of promoting innovative thinking. He also emphasized on the need to think liberally about providing necessary facilities and support for such businesses to move forward using innovative ideas and technology.

“There are instances where we may have problems in understanding how to define a startup. Those who are associated with the business itself think in a broader way. Think about defining the business as a whole,” Bhandari said.

Similarly, Executive Director of the Securities Board of Nepal (SEBON) Niraj Giri said that the government should keep an open mind about the promotion of startup business. “Control-oriented thinking cannot promote startups, they need to be promoted with open thinking,” he said.

Similarly, Joint Secretary at the Ministry of Finance Gagan Bahadur B K said that the suggestions received from the private sector would help in formulating the policy.

Speaking on the occasion, President of the Confederation of Nepalese Industries, Bishnu Kumar Agrawal, said that the confederation was working with the objective of creating an industrial environment and promoting entrepreneurship. He also mentioned that he would take initiative to develop entrepreneurship by continuously communicating with the policy makers for the promotion of startups.

President Agrawal said that the continuity of the business is more challenging than starting a business and emphasized on the need for a policy arrangement so that the entrepreneurs initiating a startup business would remain active in their business.

“A conducive environment should be created for the promotion of entrepreneurship,” he said adding, “Many Nepali youths are now studying abroad. An environment must be created to attract them. Seed capital should be made available in an easy way.”

Chairman Agrawal also urged to include suggestions from the youth from all over the country while formulating the work procedure.

“We have to move forward with decentralized thinking. Now, we have to create an environment where the youth of Dhangadhi can get seed capital while staying in Dhangadhi itself,” said chairman Agrawal.

He also urged the concerned authorities to focus on the promotion of startups for the sustainable development of the economy.

“Entrepreneurs pursuing business with innovative thinking need flexible policy and facilitation. In such a case, the government should think of the ways to promote them,” said Agrawal adding, “Development of entrepreneurship is necessary for the sustainable development of the economy. There should be support from the government in order to bring the entrepreneurs with innovative ideas into the mainstream of the economy.”

Vice President of the Confederation, Rohit Gupta said that the promotion of startup business is the need of Nepali society. He said that the confederation would cooperate with all by promoting it as a campaign.

Ayushi KC, chairperson of the startup campaign committee under the confederation, said that a clear vision is needed regarding startup business in Nepal.

During the discussion, 25 entrepreneurs doing business using innovative thinking and technology suggested that clarity is needed in the concept of startup. They said that small businesses and startups are perceived the same way and suggested the government to define them differently. They also insisted on the need for clarity in regulation of startup business, easy access to finance, clarity of startup business steps and policy facilitation.

Stating that the problem starts with the registration of a company itself in Nepal, they said that a hassle-free working environment should be created to encourage the youth. The committee will submit its suggestions to the National Planning Commission on the basis of the suggestions received during the discussion.