December 23: Enterprise has completed its second batch of the Accelerator Program. Enterprise is the first business accelerator of its kind operated by the private sector in Nepal. It seeks to mentor newly set up Nepalese companies to build better products, raise funds, and move to the next level of business growth. In essence, Enterprise aims to become the vital link between the various stakeholders of the Nepalese entrepreneurial ecosystem.

Issuing a press statement, the organizer informed that the second iteration of the Accelerator Program gathered huge interest from over 400 companies, out of which 6 carefully selected companies were given the opportunity to be a part of the program. ACT 360, Aiden Engineering, Foodmandu, Funkey Delights, inGrails and VimVox Lab were the companies that were selected for the 12 weeks mentorship program.

The participants got an opportunity to work with some of the industry experts in the country to reassess their business models, re-align their vision and objectives, plan their finances, get legal consultation, and ultimately, develop internal resources to target a high level of growth.

According to the statement, the second batch of Enterprise Program concluded with the Demo Day on December 20 where the 6 companies presented their final investment pitches to a select group of banks, angel investors, venture capital funds, and private equity funds. Over 150 individuals from the Nepalese Entrepreneurial Ecosystem attended the Demo Day.

“This year’s Enterprise Program followed an innovative model which made the program even more exciting for the second batch. We emphasized on one-on-one coaching, specific problem solving clinics for the participating companies, and financial and legal due-diligence in order to make them investment ready right from the beginning of the program. This Demo Day is the cumulative outcome of 12 weeks of hard work from our expert panel of mentors and instructors, our partners along with the six companies," said Ajay Shrestha, Program Director at Enterprise.

The program was initiated by Nepalese Young Entrepreneurs’ Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma. It was managed and funded by True North Associates, an Investment, Consulting and Management firm based in Nepal. Enterprise partnered with various organizations including NMB Bank, iCapital , ACT 360 , Onion Films and Emazing  for the second iteration of the program.