Kathmandu, July 22: Enterprise, a private
sector business accelerator, has opened applications for the second batch of
companies for the mentorship.
According to a press statement issued by the company,
Enterprise seeks to mentor newly set up Nepalese companies to build better
products, raise funds, and move to the next level of business growth.
The second batch will incorporate 10 companies
for the programme which has been scheduled to begin on 1st September
2016. The interested companies can apply before 5th August.
More than 100 companies applied seeking
mentorship via Enterprise in the first batch while only 5 companies – Edushala,
Hot Chips and Fresh Snacks, Jungstrong Nain Art, Metro Tarkari and Spark
Technologies – were given the opportunity.
"Those companies got an opportunity to
work with some of the industry experts in the country to reassess their
business models, re-align their vision and objectives, plan their finances, get
legal consultation and ultimately, develop internal resources to target a high
level of business growth," read the statement.
The companies also attended various investors
networking sessions and presented their businesses to a select group of banks,
angel investors, venture capital funds, and private equity funds on the
demo-day.
"A lot of small and medium size
enterprises (SMEs) do not have the resources to grow. A business accelerator
can add a lot of value to these companies by providing them the necessary tools
to analyse their overall growth strategy," said Ajay Shrestha, programme
director at Enterprise.
In order to be eligible to apply for this
programme, companies need to have been in operations for at least two years, be
seeking investment, and have a team of passionate founders who want to take
their companies to greater heights, said Enterprise.
The 12 weeks long business accelerator
programme has been initiated by Nepalese Young Entrepreneurs' Forum (NYEF) in
partnership with Centre for Creation of Economic Wealth at the University of
Oklahoma and is managed and funded by True North Associates, an investment,
consulting and management firm in Nepal.
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