Last Updated on by ICT BYTE
Finance Minister Barshman Pun unveiled plans for a major push in Nepal’s startup ecosystem during his budget presentation to the Federal Parliament. The announcement, made on Tuesday, highlighted the creation of a Nepal startup fund worth one billion.
Pun emphasized the importance of fostering startup culture by establishing a dedicated startup board to support and regulate aspiring entrepreneurs. He outlined the fund’s purpose, stating it aims to provide crucial financial assistance to startup ventures.
Additionally, the government intends to nurture entrepreneurial spirit among the youth by establishing business incubation centers in each province. These centers will serve as hubs for cultivating innovative ideas and guiding aspiring entrepreneurs towards success.
In a bid to encourage innovation, Pun revealed plans to incentivize banks and financial institutions to channel more funding towards innovative projects. Furthermore, the government plans to invest funds in private equity and venture capital units to further support startups.
The initiative signals the government’s commitment to fostering a vibrant startup ecosystem and empowering aspiring entrepreneurs across Nepal.
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