December 24, 2016 10:24 AM NPT
KATHMANDU Dec 24: Enterprise, a wing of Nepalese Young Entrepreneurs’ Forum (NYEF), said it had organized a business accelerator program. Issuing a statement, Enterprise said this was the second edition of the program. NYEF said it initiated the program in partnership with Center for Creation of Economic Wealth (CCEW) at the University of Oklahoma.
The event was managed and funded by True North Associates, an investment, consulting and management firm based in Nepal.
For the second ‘Business Accelerator Program’, Enterprise partnered with various organizations, including , NMB Bank, iCapital Pvt Ltd, ACT 360 Pvt Ltd, Onion Films Pvt Ltd and Emazing Pvt Ltd, it said, adding that with the program it sought to mentor newly-set-up Nepali companies to build better products, raise funds, and move to the next level of business growth.
Enterprise said the accelerator program aimed to become a vital link between various stakeholders in Nepal’s entrepreneurial ecosystem.
Out of over 400 companies which showed interest, six were selected and given the opportunity to be part of the program, Enterprise said. These companies -- ACT 360 Pvt Ltd, Aiden Engineering Pvt Ltd, Foodmandu Pvt Ltd, Funkey Delights Pvt Ltd, in Grails Pvt Ltd and VimVox Lab Pvt Ltd -- were put through a 12-week mentorship program, it said.
“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,” Ajay Shrestha, Program Director at Enterprise, said.