Nepal Ko Yuwa (NKY) and the Department of Cottage and Small Industries at the Ministry of Industry (MOI) have signed a Memorandum of Understanding to promote youth entrepreneurship for job creation and economic growth in Nepal.
The partnership will support Naya Ghar Initiative, which aims to nurture a thriving community-based entrepreneurial ecosystem in Nepal by supporting high-growth entrepreneurs in agriculture, IT and tourism sectors.
The initiative comprises of a district-based Innovation Challenge to surface the entrepreneurs, Community Innovation Lab to provide funding, training, mentorship and networking to the winning entrepreneurs, and Leadership Course to promote community-led enterprise ecosystem.
During the function, Secretary of Industry Krishna Gyawali highlighted: “During my trip to Palpa recently to select the top 5 winners, I saw closely how Naya Ghar can promote youth innovation and support local economy.”
President of Nepal Ko Yuwa, Dr. Pukar Malla, noted: “We aim to promote innovation and entrepreneurship in close collaboration with local communities so that our efforts results in a vibrant enterprise ecosystem.”
NKY and MOI have launched a pilot project in Palpa district this year. From an application pool of 112 entrepreneurs spanning 35 VDCs in Palpa, 5 have been selected through jury selection as well as SMS and Facebook voting.
The winners included agri-entrepreneurs with 3-8 years of experience running their cow, fish, and pig farms. The Naya Ghar Initiative is supported by Nepal Investment Bank Limited and Walk for Nepal Youth Innovation Fund.