Startup Summit Nepal 2024 concludes

KATHMANDU: Startup Summit Nepal 2024, organised by The Startup Network (Nepal) and PHDCCI (India-Nepal Centre), concluded successfully at Aloft Kathmandu Thamel.

Minister for Physical Infrastructure and Transport, Devendra Dahal, chief guest, alongside CPN (UML) Mahanagar President Gyanendra Shakya, inaugurated the event.

Addressing the inauguration, Minister Dahal emphasised Nepal's need for industrial development. "Our country is in the process of modernisation, but our dreams remain unfulfilled," he said. He also highlighted efforts to remove legal obstacles, allocate budgets, and collaborate with foreign companies.

Likewise, Sandeep Kamat, Country Manager for Bosch Limited-Nepal, stressed the need for investment and better infrastructure, noting that 60% of Nepali startups face capital issues and over 75% struggle to expand internationally. "Nepal has a vibrant ecosystem with ample opportunities. It is up to the startups to seize these opportunities," Kamat said.

Sanjib Subba, founder of Kathmandu FinteK, highlighted Nepal's fintech potential, noting $515 million in local IT exports and predicting fivefold growth by 2030. He emphasised the importance of leveraging young talent and improving Digital Public Infrastructure.

The event brought together policymakers, entrepreneurs, investors, and thought leaders for discussions on the future of Nepal's startup ecosystem. Dr Sudeep Rauniar, Kamlesh Jain, Mark Templer, Suman Shekhar, former Indian ambassador to Nepal, Manjeev Singh, and Atul K Thakur addressed the opening session.

The summit hosted four thematic panel discussions, which included exploring barriers faced by Nepali startups, fostering cross-border collaboration, focusing on scaling renewable energy solutions, and highlighting the role of startups in retaining Nepal's talent.

Three startups — Pal-Always with You, NotAI GPT, and Taximandu — competed for Best Startup of the Year 2024, with Taximandu winning the title and Rs 30,000 cash prize.

The summit was sponsored by NIMB Ace Capital and co-sponsored by various banks and industries. Media partners included Business 360, WOW Magazine, The Himalayan Times, and News 24. Aloft, BFIN, VISA, and Varun Beverages were strategic partners, with Subisu providing internet sponsorship, and Coffee of Promise and Bookverse as creative partners.

The Startup Network is a pioneering organisation committed to nurturing Nepal's entrepreneurial ecosystem by connecting startups with investors, policymakers, and industry leaders.