India-Nepal Startup Summit 2024 Kicks Off in Kathmandu
Kathmandu, Nepal — The India-Nepal Startup Summit 2024 officially began today in Kathmandu, bringing together entrepreneurs, investors, and policymakers to foster collaboration and innovation between India and Nepal. The summit aims to create a platform for startups to network, pitch their ideas, and explore opportunities for growth and investment, strengthening the startup ecosystems of both countries.
Organized by Startup Network Nepal, in collaboration with the Confederation of Nepalese Industries (CNI) and the PHDCCI (India-Nepal Center), the event has attracted experts from various fields. It featured a series of keynote speeches, panel discussions, startup pitching sessions, and networking opportunities designed to empower entrepreneurs with the resources, knowledge, and connections needed to scale their ventures.
Kamlesh Jain, Co-Chair of India-Nepal Center at PHDCCI, spoke about the significant role startups play in addressing challenges faced by Nepal, such as unemployment, dependence on foreign aid, and a trade deficit. He emphasized that startups could create jobs, generate revenue, and diversify Nepal’s economy. “For individuals, it pursues innovative ideas and launches businesses, which contribute to GDP growth and help reduce our reliance on traditional industries and agriculture,” Jain remarked.
The summit’s primary goal is to bridge the gap between local startups and international investors, helping attract significant investment into Nepal’s growing startup scene. Startup Network Nepal has been instrumental in connecting emerging entrepreneurs with investors, mentors, and other valuable resources. This support is vital for Nepal’s entrepreneurs as they seek to build the next generation of businesses and innovations.
Suman Shekhar, First Secretary – Commerce at the Indian Embassy in Kathmandu, also highlighted Nepal’s young population as a key driver for its economic transformation. “Nepal is a country of about 30 million people, with a median age of less than 25, even younger than India. Nepal’s dream to transform economically will be anchored in its youth and entrepreneurship. Kathmandu could become the startup capital of the Himalayas,” he said, pointing to the rising prominence of Nepal’s startup culture.
The Startup Network, through its comprehensive incubation program, is already making strides in Nepal’s entrepreneurial ecosystem. The bi-monthly initiative supports startups from their earliest ideas to building a compelling pitch deck. Entrepreneurs benefit from personalized mentorship provided by successful startup founders and experienced mentors, guiding them through the critical stages of idea validation, business model development, and market strategies.
Additionally, the Startup Network is in the process of launching a venture fund to further support the growth of promising startups. This fund will provide crucial financial backing to help startups scale and thrive in competitive markets.
Manjeev Singh Puri, Chairman of India-Nepal Center, PHDCCI, and former Indian Ambassador to Nepal, spoke during the inaugural session, stressing the complementary relationship between India and Nepal’s startup ecosystems. He encouraged attendees to leverage networks and partnerships to expand their global reach. “As you grow these startup ecosystems in Nepal, remember that India has become the third-largest startup ecosystem in the world, and there is great potential for collaboration,” Puri stated.
The India-Nepal Startup Summit 2024 served as an important launchpad for Nepal’s entrepreneurial ambitions. By showcasing the country’s vibrant startup spirit to a global audience, the summit positioned Nepal as a key player in the international startup ecosystem.
Entrepreneurs, investors, and industry leaders attending the event are excited to explore the future of innovation in Nepal, forge meaningful connections, and drive the next wave of entrepreneurial success both within Nepal and beyond its borders.
