Kathmandu, Nov. 4
The Confederation of Nepalese Industries (CNI), with the
support of the United Nations Capital Development Fund (UNCDF), on Saturday announced
the launch of the ‘Agora’ platform - a web platform connecting entrepreneurs in
developing, emerging and frontier markets with investors and experts, fostering
collaboration and driving economic growth.
According to the CNI, it will oversee the domestic
deployment of Agora. Additionally, with the announcement, an open call within Nepal
has been commenced, specifically targeting Nepal-based entrepreneurs and
business owners needing financing and expertise to help the development of
their enterprises at various stages, read a statement issued by the CNI.
President of CNI, Rajesh Kumar Agrawal,
said at the programme organised to sign the Memorandum of Understanding (MoU),
"By bridging the information gap and facilitating meaningful connections,
Agora can be an impactful engagement for the businesses, entrepreneurs, and
communities. We believe that this platform can help us showcase Nepal’s immense
potential to the world.”
Likewise, Xavier Michon, Deputy Executive Secretary of
the UNCDF, said that Agora will bridge the information gap that prevents
investment finance from reaching promising projects. By bridging this gap,
Agora will help deliver critical lifelines of capital to the businesses,
entrepreneurs, and communities.
“Moreover, the meaningful connections provided by Agora
can initiate collaborations and partnerships, leading to joint ventures,
expanding market reach, enhancing the visibility and recognition of enterprises
in Nepal. In line with the ethos and mission of CNI, Agora can help change the
mindset of foreign investors from ‘Why Nepal’ to ‘Why Not Nepal,” said Michon.
Agora will support CNI’s vision of promoting both
domestic and foreign investment while creating employment opportunities in the
country’s industrial and corporate sectors, read the statement. As the Agora
platform is designed to support investment promotion for enterprises, CNI will
leverage the platform to support the wide array of Nepal-based entrepreneurs, notably
representing all sectors and hailing from all geographical regions in the
country.
By utilizing cutting-edge algorithms and artificial
intelligence to facilitate connections between entrepreneurs and investors,
Agora supports entrepreneurs in accessing a diverse pool of investors that improve
their funding prospects, while investors discover tailored opportunities that unlock
the potential of emerging markets.
In collaboration with a network of like-minded partners,
UNCDF is deploying Agora as a global public good, with an eye of reaching
approximately 20 countries by the end of 2023.
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