KATHMANDU, June 26: The Confederation of Nepalese Industries Young Entrepreneurs Forum (CNIYEF) on Saturday witnessed an agreement for investment worth Rs 245 million in startup projects.
The youth wing of the umbrella organization of the private sector received the commitment for investing in equity of the proposed startup businesses during CNIYEF Nepal StartUp Fest 2022 organized in the capital on Saturday. The conclave of the startup sponsored by Nabil Bank received over 300 proposals from interested youth groups.
Team Ventures, Global Equity Fund, Adhyanta Fund Management, Himalayan Capital and Teliventure Partner were among the companies that signed agreement to invest in equities of the startup companies like VoxCro, Skill Sewa Private Limited, Team Beda, Kheti, Dark Matter Game Production, Digital Edge Nepal, and Doctors on Call.
Speaking at the program, CNI President Vishnu Kumar Agrawal, said the confederation, through the conclave, has aimed to promote the investment environment in the country’s newly emerging businesses. He urged the government to endorse as early as possible a working guideline on providing grants and loans to startups prepared by the National Planning Commission.
More than 40 startups showcased their products in the event that was attended by over 5,000 youths.