Thu, February 22, 2024

Young Entrepreneurs seek proper policy for start-ups

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Young entrepreneurs have stressed on the need for proper policy for start-ups to foster entrepreneurship development in the country. Lack of policy for start-ups is hindering enterprise development in the country, which is why young entrepreneurs despite having required skills are either working for established companies, are leaving the country for job opportunities abroad or are unemployed. Young entrepreneurs, who have returned after attending the Global Entrepreneurship Summit (GES-2016) that was held in Palo Alto, California from June 22 to 24, said that mentorship and venture capital for start-ups could bring revolutionary changes in the enterprise development in the country. The government has announced start-up fund of Rs one billion for new ventures from next fiscal. The government has also called on private sector and non-resident Nepalis to contribute to the fund. Young entrepreneurs have said that until the private sector takes the lead, the government‘s tokenistic approach would not be able to deliver desired results for new ventures in the country. In total, eight Nepali young entrepreneurs had participated in GES-2016 along with young entrepreneurs from 170 countries, where US President Barack Obama had given an inspirational speech on entrepreneurship.
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