DFID Nepal to Support Business Incubation and Acceleration Programs

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DFID Nepal to Support Business Incubation and Acceleration Programs

August 24: DFID Nepal has announced to support programs to promote business incubation and acceleration in Nepal. In this regard, UK aid-funded collaboration between Rockstart Impact Program and Nepal Communitere’s I-Cube Program was launched at Rockstart Impact’s office in Pulchowk on Wednesday, August 23.

These two programs will focus on business incubation and acceleration to actively nurture and support startups with high potential for their growth via incubation, acceleration and investment.

The event saw an introductory presentation on both programs where the representatives of the respective institutions explained the purpose and vision of launching the programs.

 “DFID has always been finding ways to reduce poverty in Nepal by investing in different ways. We decided to invest in these programs because entrepreneurship is the only sustainable method to address poverty,” said Gareth Weir, deputy head of Economic Development Team of DFID Nepal.

Bahar Kumar, Strategic Advisor at Nepal Communitere, said, “We are excited to finally be able to fill a gap within the entrepreneurship ecosystem in Nepal by providing meaningful business incubation services to inspiring entrepreneurs and set them up for true success.”

Likewise, Rockstart Impact initiator Willem Grimminck said, “The development of Nepal is taking a turn where SMEs are playing the role of a leader, an inspirer, and a provider. We want to contribute as partners in this quest that these truly brave entrepreneurs have started."

Rockstart Impact is a 100-day accelerator program that is focused on developing countries that bridges the gap between entrepreneurs and impact investors. The application for the 2017 batch is open from August 1 to October 5.

Out of all the applicants, 22 companies will be selected for the entrepreneurship programs out of which 10 will be finalized for the Rockstart Program where as the other 12 will be joining Nepal Communitere’s I-Cube Program. The application for the program is available in Rockstart’s website www.rockstart.com/impact/.

 

 

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