Kathmandu, December 2, 2018: Nepal Communitere’s I-Cube Business Incubation program hosted its first demo day in Shanker Hotel on 30 November 2018. The event showcased 5 companies that were incubated and supported for a full year in Nepal Communitere. This was accompanied by the launch of Nepal’s first ever seed investment fund, ‘Safal Seeds’, which is geared towards early-stage Nepali startups looking for 10-20 lakhs worth of investment. Potential investors who attended the event showed their support by pledging an investment of 1-2 lakhs each.
Three registered companies pitched for seed investment: 8byte Creative Studio’s app Kopila is catered towards maximizing preschoolers’ potential; Around the Corner Restaurant offers a green escape from the pollution and noise of Kathmandu Valley; and Orange Ball Pvt. Ltd takes care of pest problems. Likewise, 2 engineering student teams also showcased their ideas: NovaTech and Light Up.
I-Cube, which is a 2-year DFID/UKAID sponsored program represents the 3 key pillars for the success of startups – to innovate, iterate and incubate their business. The incubation journey for the second cohort of I-Cube is already underway for up to 8 companies.