Print Edition - 2015-07-02 | MONEY
Applications open for business accelerator programme
Jul 1, 2015-
Applications have opened for Enterprise, a Nepal business accelerator programme initiated by the Nepalese Young Entrepreneurs’ Forum (NYEF).
Enterprise is the first business accelerator of its kind operated by the private sector in Nepal. It seeks to mentor newly set up Nepali companies to build better products, raise funds, and move to the next level of business growth. In essence, Enterprise aims to become the vital link between the various stakeholders of the Nepali entrepreneurial ecosystem. Following a rigorous application process to participate in the programme, accepted companies will attend a 12-week mentorship based professional guidance programme that aims to help their businesses grow and attract new investors, the company said in a press statement. The companies will get an opportunity to work with industry experts to reassess their business models, re-align their vision and objectives, plan their finances, get legal consultation, and ultimately, develop internal resources to target a high level of growth.
Apart from these, they will also attend various investors networking sessions. The companies will present their businesses to a select group of banks, angel investors, venture capital funds and private equity funds on Demo-Day.
In order to be eligible to apply for this programme, companies need to be in operations for at least two years and have a team of passionate founders who want to take companies to greater heights.
Ajay Shrestha, programme director at Enterprise, said, “In Nepal, a lot of small and medium-sized enterprises do not have the resources to grow. A business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. By doing so, Enterprise can develop their internal capacity and make them more attractive to investors.”
Enterprise ultimately aims to create a space for venture capital and private equity investment, ushering in a new financing modality, in which companies, investors, and the entire economy can gain with the growth of new and innovative companies.
This programme has been initiated by the NYEF in partnership with the Centre for Creation of Economic Wealth at the University of Oklahoma and is managed and funded by True North Associates, an investment, consulting and management firm based in Nepal. Applications opened on Wednesday.
Published: 02-07-2015 08:10