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KATHMANDU: Finance Minister Prakash Sharan Mahat inaugurated Startup Fest 2023 organised by the Confederation of Nepalese Industries Young Entrepreneurs Forum (CNIYEF) in Kathmandu, on Saturday, December 23.
Addressing the inauguration session of the Startup Fest, Finance Minister Mahat stated that digital platforms have been established as a tool to best utilise the capacity, qualification, imagination, and dedication of youths. He added that this sector has offered immense potential not only for business but for every area.
He said that those engaged in production have easily obtained access to the market through the digital platform. “They can increase their income at a low cost,” he added.
Mahat argued that the government has taken the IT policy to its practical implementation from this year’s budget and said that only a nominal tax has been put in place. He expressed his hope that from this step, the digital platform would take a big stride.
The finance minister further said that the facility given by the state for this sector could help increase the IT business and pledged to make the IT policy more accessible in the coming days. “The government is ready to facilitate the youths in the areas where they are willing to work,” he added.
Minister Mahat said that the IT sector has played a crucial role in the country’s economic development and added that a large volume of software is being exported from the country. “Business is becoming easier and the investment cost is being reduced from this,” he viewed.
On the occasion, Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal, in his address to Startup Fest 2023, said, “We have assembled the most brilliant intellects, promising startups, and a league of investors who believe in the power of ideas to transform our world. Nepal has always been a land of untapped potential, and the startup ecosystem is the catalyst that will propel us into a future defined by creativity, resilience, and progress.”
The theme for this year’s fest, “Innovate, Accelerate and Connect,” encapsulates the essence of what we aim to achieve – a platform where ideas transcend boundaries, where challenges are opportunities in disguise, and where the entrepreneurial spirit knows no bounds.
He urged the young entrepreneurs to embrace the challenges and move forward and reminded them that failure is not the end, but a lesson, a valuable guide on the path to greatness.
On behalf of CNI, President Agrawal expressed commitment to fostering an environment where startups flourish.
He sought support for CNI’s campaign ‘Make in Nepal’, a collaborative campaign aimed at fostering domestic industrial growth. Central to this initiative is SWADESHI, a key component launched by CNI, focusing on making Nepali goods and services more competitive and attractive to both domestic and international markets.
He briefed about the campaign that seeks to enhance the overall competitiveness of local businesses, stimulate demand for Nepal-manufactured products, and contribute to the self-sustainability of the country’s economic landscape. He called for leveraging the skills, ideas, and resources together to build a resilient and thriving economic ecosystem that benefits businesses and uplifts the entire nation.
CNI President Agrawal said, "Collective efforts today will shape the narrative of Nepal’s tomorrow – a story of innovation, progress, and shared success."
