Nepali Business Pioneers Pushing Forward Growth in Innovation and Employment
Nepal's entrepreneurial landscape is rapidly evolving, with a growing number of startups leveraging technology and innovation to solve everyday problems and generate new job opportunities. The country's entrepreneurs face several challenges, including limited access to funding, a lack of infrastructure, and bureaucratic hurdles, among others [1][2]. However, the government and partners are taking steps to support these innovators.
One of the government's key initiatives is Startup Nepal, which aims to promote entrepreneurship and innovation. Another initiative, the Nepal Innovation Center, launched in 2018, provides support and resources to startups and entrepreneurs [3]. Additionally, the Youth and Small Entrepreneur Self-Employment Fund offers low-interest loans to young entrepreneurs and small business owners [3].
Some of the notable Nepali startups making waves include eSewa, Khalti, Sasto Deal, and Foodmario. eSewa, a digital wallet and online payment gateway, has over 5 million users and has processed over NPR 1 trillion in transactions [4]. Khalti, another successful startup, allows users to pay for various services and has over 2 million users, with partnerships with over 20,000 merchants [4]. Sasto Deal, a Nepali startup in the e-commerce space, has created over 100 job opportunities [4]. Foodmario, a social enterprise, has created over 200 job opportunities for women in Kathmandu [4].
These startups are not only creating jobs but also contributing to Nepal's digital economy. For instance, Khalti has created over 200 job opportunities [4], while eSewa has created over 200 jobs as well [5]. These digital wallet and online payment platforms are revolutionizing the way Nepalis transact, making financial services more accessible and convenient.
The government's efforts extend beyond financial support. Initiatives like the establishment of Rojgar Kendras (employment centers) provide job placement, vocational training, and resources to bridge skills gaps and promote employment [3]. High-profile events such as the Nepal Youth Entrepreneurship Summit (NYES) 2025 aim to establish a more robust ecosystem by fostering collaboration [4]. Provincial efforts focus on creating incubation centers and innovation labs to nurture ideas and provide mentorship, with Madhesh Province moving toward integrating these resources alongside Rojgar Kendras for sustainable job creation [3].
The rate of entrepreneurship in Nepal has been on the rise. It increased from 8.7% in 2016 to 10.5% in 2019 [2]. This growth is a testament to the government's efforts and the resilience of Nepali entrepreneurs. The country's entrepreneurs are active in various sectors such as tech, tourism, agriculture, and healthcare.
In conclusion, Nepal's entrepreneurial ecosystem is growing, with the government and private sector working together to bridge existing gaps in funding, skills, infrastructure, and policy. The continued commitment of the government, policy facilitation, and partnership with private and international stakeholders are crucial for the success of this nascent but promising entrepreneurial environment.
- Startup Nepal, an initiative by the government, is focused on promoting entrepreneurship and innovation, contributing to Nepal's evolving entrepreneurial landscape.
- The Youth and Small Entrepreneur Self-Employment Fund offers low-interest loans to young entrepreneurs and small business owners, providing a means for personal-finance support for Nepal's startup ecosystem.
- The Nepal Innovation Center, launched in 2018, provides resources to startups and entrepreneurs, aiming to support the growing number of technological innovators in Kathmandu.
- Digital wallet and online payment platforms, such as eSewa and Khalti, are revolutionizing the way Nepalis manage their financial transactions, creating countless job opportunities in the small-business and IT sectors.
- The establishment of employment centers, called Rojgar Kendras, provides job placement, vocational training, and resources to bridge skills gaps, contributing to the growth of careers in Nepal's entrepreneurial landscape.
