Start Fest on Dec. 23

Kathmandu, Dec. 7

The Confederation of Nepalese Industries Young Entrepreneurs Forum (CNIYEF), the youth wing of the CNI, has announced that it would organise a Startup Fest aiming to foster innovation, investment and policy discussions to boost Nepal's startup ecosystem.

The fest is slated for December 23 this year, and will be organised in collaboration with the Government of Nepal, Ministry of Industry, Commerce and Supplies, and the National Planning Commission.

"The CNIYEF Startup Fest 2023 is driven by a mission to promote startups, provide a platform for new ideas to secure investment, and support the 'Make in Nepal Swadeshi' campaign through engaging policy debates," said the organiser of the event.

Recognising the primary challenge faced by startups in acquiring investment, the fest endeavours to encourage these ventures by facilitating discussions, showcasing successful practices, and providing opportunities for startups to present their projects to potential investors are other aims of the Fest.

Over 250 startups have submitted proposals seeking investment, and a rigorous selection process led by CNIYEF and investors will result in 10 to 12 standout startups earning the opportunity to present at the fest.

Investor companies, including Tele Venture, NIMB Capital, Reliable Venture Capital, Lotus Holding, Alpha Plus Venture, Himalayan Capital, Team Venture, Global Equity Fund, Adhyanta Fund Management, and Neoteric Nepal, have expressed their commitment to investing in the selected startups. As on date, this is an investment pool of more than Rs. 1 billion.

The Startup Fest will feature panel discussions on various startup-related topics by domestic and foreign experts, live pitching sessions by startups, and engaging activities such as enlightening panel discussions, Robotic Football, Robowar, and a Live Rock Concert. The event will also host exhibitions by indigenous companies and startups championing the Make in Nepal Swadeshi Abhiyan, showcasing their goods and services.

Published in The Rising Nepal daily on 8 December 2023.