Duration: 2021 – 2023
Budget: USD 242397
Job creation and incubation are necessary to lead technological innovation and the economic growth of Nepal. Idea Studio Nepal and KUSOM’s partnership will strengthen the focus to promote startup-based programs. KU needs to scale up through NTIC to deal with increasing demand for business incubation. Youth/student technology start-ups are promoted including KU students and academic staff. Business incubation is expected to contribute to strengthening capabilities in technological innovation in Nepal but also to the financial sustainability of KU-NTIC.
The major objectives of the program are:
- To enhance NTIC’s capabilities in planning and managing startup and business incubation
- NTIC-KUSOM-Idea Studio Nepal cooperative system enhanced to promote the startup.
- NTIC business support capacity building.
- NTIC equipment utilization to establish technology innovation clusters.
- To promote firm creation by KU members and the Nepali people
- To promote technology commercialization by offering new entrepreneurs R&D infrastructure NTIC obtains and business support service
- To lay the foundation for creating technology innovation clusters by attracting and growing new startups
- Startups and pre-startup founders who have technology/business item related to the main support fields of NTIC (i.e. Agriculture, renewable energy, and health)
- Diverse types of support: Entrepreneurship education, facilities, and places, mentoring and consulting, R&D, international market expansion, events and networking, funding, etc.
Steps (In collaboration with NTIC, Idea Studio, and KUSOM)
‣ [Step 1] Seeking pre-startup founders
✓ Promote the event to find pre-startup founders for expanding startup base and activating startups
✓ Find pre-startup founders who have creative idea and technology as well as outstanding qualities, and lead them to start a business
✓ Examples of activities: startup roadshow, startup competition, etc.
‣ [Step 2] Fostering founders
✓ Announce startup support program application targeting pre-startup founders and new firms found in [Step 1]
✓ Select support targets among appliers for the program by evaluating their business idea, technology, and business plan
✓ Incubate firms by making them reside in an incubation center and experiencing a variety of services
✓ Examples of services: facility, staff, technology, Technical high-performance high-value, and management support
‣ [Step 3] Establishing technological innovation clusters
✓ Make the firms that achieved stable sales and financial system by [Step 2] reside in the place near NTIC and KU campus
✓ Support the successful new firms by regularly monitoring them for realizing sustainable growth
✓ Make technology exchange and cooperative system through the network with startups, successful new firms, and related institutions
- Startup roadshow hosting: 3 times
- Startup competition hosting: 3 times
- Startup club support: 2 times (This will be just support of existing clubs)
- Number of services regarding business incubator: 5
- Number of incubated companies: 5 * 3 = 15
- Total revenue of incubated companies: 50,000 USD
- Number of business space rentals: 5