Kathmandu, Sept. 27
King’s College has signed a
Memorandum of Understanding (MoU) with Rastriya Banijya Bank (RBB) to
collaborate on the ‘Otharo Incubation Programme’.
Otharo is a bi-yearly
incubation programme, managed and organised by King’s College where ideas are
converted into viable businesses after undergoing a rigorous six-month process
of workshops, mentorship programmes, expert sessions and provision of necessary
support system.
This collaborative effort aims
to support entrepreneurs, create entrepreneurial ventures, and generate more
employment opportunities for Nepali youths, said the college in a statement on
Sunday.
"The programme will
commence with King's College opening applications for innovative business plans
from Nepali youth across the country who want to receive necessary training,
mentorship, and support related to entrepreneurship in building their venture,"
read the statement.
As per the collaboration, the
overall programme will be jointly funded by the college and RBB, with the latter
providing a subsidized loan to three ventures going forward from the incubation
programme. RBB has also agreed to provide finance related experts as coaches to
support the selected incubatees of the programme.
The CEO of RBB Kiran Kumar
Shrestha said that the programme is aimed for youths who seek support system in
turning their ideas into a viable venture, and such effort will take the
country on the road of prosperity.
Narottam Aryal, Chairman of
King’s College, stressed on the need to create an entrepreneurial ecosystem to
help nurture ventures, an ecosystem that is willing to take risks and
contribute towards the development of young innovative startups from the very
beginning, and continuously support them for the longer haul.
Published in The Rising Nepal daily on 28 September 2022.
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