5 entrepreneurs secure Korean investment through pitching competition

KATHMANDU: The Korea International Cooperation Agency’s (KOICA) Returnee Innovators Showcase, held on Friday, funded the projects of five entrepreneurs who have lived and worked in the Republic of Korea (ROK) before returning to operate businesses in Nepal.

The showcase was organised by Ankur Nepal with support from The Bridge International and Byapar Briddhi Bikalpa.

First prize, along with an investment of Rs 500,000, was awarded to Santosh Dahal’s Rasilo Krisi, which specialises in the cultivation, packaging, distribution, and export of Nepali grams (dal). Rasilo Krisi’s headquarters, warehouse, and packaging centre are located in Bhaktapur.

Likewise, the second prize, with an investment of Rs 300,000, went to Dil Bahadur Tamang’s Hankook Meat Mart. Tamang’s approach to raising and slaughtering animals was refined in Korea. His facilities also freeze and package meat to ensure an efficient business-to-customer delivery system.

The third prize, accompanied by an investment of Rs 200,000, was awarded to Rajendra Basyal’s Korean UPVC and Steel Udhyog. Basyal’s venture provides raw materials for building or upgrading housing and innovates designs for customers to build homes modelled after Korean houses.

Similarly, the fourth prize, with an investment of Rs 100,000, was awarded to Santosh Timilsena’s Jumli Café. Timilsena, a specialist in the repair and maintenance of espresso makers and drip coffee machines, imports parts from Korea and offers his services to cafes in Pokhara. He also cultivates, roasts, and distributes coffee beans.

The fifth prize, with an investment of Rs 100,000, was awarded to Bimala Lama’s Himalayan Hospitality Training Centre. Lama proposed a training centre to cultivate skills aimed at preparing the workforce for employment in the service industry.

On the occasion, Ambassador of ROK to Nepal, Tae-Young Park, applauded the entrepreneurs for their ventures, stating, “Startup prospects will contribute to Nepal’s prosperity,” emphasising that skills built in Korea can be utilised in Nepal.

Other guests in attendance included Nischal Raj Pandey, Joint Secretary of the Ministry of Labour, Employment and Social Security, and Mooheon Kong, Country Director of KOICA. The event was supplemented by representatives from the government’s Safer Migration initiative funded by HELVETAS, offering legal services, a financial literacy programme, and rehabilitation services for migrants. Representatives from the Career Development and Entrepreneurship Support Program (CDE) by the Japan International Cooperation Agency (JICA) were also present.

Agasti Agro Firm, Karnali Natural Fiber Industry, Massa 7, and Sumnima Nursery were the other presenters at the event.