October 21: New Business Age is all set to organise the ‘Kumari Bank NewBiz Startup Summit and Awards’ on November 26. The slogan of this year’s award is ‘Search for Nepali Unicorn’. There is an international practice of referring to a startup with business of more than Rs 1 billion as unicorn.
Entrepreneurs with new ideas will be selected and awarded with cash prizes of Rs 400,000 in order to encourage them.
According to New Business Age Pvt. Ltd, details of more than 1,500 startup businesses from all seven provinces have been collected. Startups who want to participate in the award can also register their names by visiting the link available on the website of Aarthik Abhiyan and New Business Age not later than November 1. In particular, entrepreneurs who have been doing a new venture for the past three years by registering a company and those who have not completed seven years of registration have been selected for the awards ceremony.
New Business Age is organizing an interactive training programme through virtual medium on October 29 in the run-up to the main event, where existing and aspiring startups and young entrepreneurs can participate. Among them, the best ones will be selected by November 16. As per the organisers, a jury of independent experts has been formed for the selection and the process has already started.
Madan Lamsal, chairman of New Business Age Pvt Ltd, said that the main purpose of organizing this programme is to help the entrepreneurs with new ideas to rise up. According to him, at a time while the government, the central bank and others are encouraging such entrepreneurs, the private sector is also looking to extend a helping hand. New Business Age believes such awards will help the startups to grow.
The main sponsor of NewBiz Startup Summit and Award is Kumari Bank Limited and the co-sponsor is Garima Bikas Bank Limited. Likewise, the Federation of Nepalese Chambers of Commerce and Industry is the 'associate partner'. Similarly, the award programme has been supported by IME and NLG Insurance Company Limited. The technical partner of the program is Mango Tech.
New Business Age has been organising various award programs. Since last year, it has started a program to honor women entrepreneurs while it has been selecting and awarding the best companies since 2013.