Start-up Board to Be Formed, Rs 100 Billion for Burgeoning Start-up Ecosystem

In a landmark move aimed at fostering innovation and entrepreneurship, the government has announced a substantial allocation of Rs 100 billion for Nepal’s burgeoning start-up ecosystem. Finance Minister Barsha Man Pun unveiled this bold initiative during the presentation of the annual budget for the upcoming fiscal year 2081/82 BS (2024/25) at today’s joint session of the federal parliament.

Minister Pun underscored the government’s commitment to nurturing the entrepreneurial spirit among the youth of Nepal by earmarking this significant fund for start-ups. As part of this endeavor, a dedicated start-up board will be established to streamline support mechanisms and incentivize the growth of innovative ventures across the nation.

Moreover, the government plans to establish business incubation centers in all seven provinces, providing essential infrastructure and resources to budding entrepreneurs. This strategic move aims to catalyze economic development and create a vibrant ecosystem conducive to the growth of start-ups in Nepal.