On 15th May, Club of MBM SMC a club of MBM students of Saraswati Multiple Campus, Kathmandu organized an online panel discussion session on Start-Ups Ecosystem in Nepal. In this session Ensemble for Bachelors a group of 25000+ Management students was an outreach partner.
This session was organized to emphasize the idea to encourage the students to learn more regarding start-ups eco-system in Nepal. The panel discussion had guests like Anjan Neupane a corporate/ commercial lawyer partner at Neupane Law Associates Nepal, Prarthana Saakha a Managing Director at Helmets Nepal Pvt LTD and executive member at Nepalese Young Entrepreneurs Forum, Niraj Khanal who is a Cofounder and CEO of Antarprerana.
The session had 100+ participants from different fields of academics and was conducted using the zoom application and it was live from Ensemble for Bachelor’s Facebook page. In this session Mr. Kshitiz Puri was the moderator who is also the CEO of Ensemble for Bachelors and Executive Director of Ideas and Solutions. During the discussion Mr. Anjan Neupane one of the panelists explained the challenges that start up business face regarding registrations, capital investments, Foreign Direct Investments, Government rules and regulations, corporate sectors supporting young entrepreneurs. According to him the realistic, futuristic and applicable product ideas are supported by the corporate sectors. Another panelists Mr. Niraj Khanal added about how an individual faces various challenges during startups. For the basic requirements as shared by Mr. Neupane, Khanal added that the idea has to be sellable, it either has to be exposed in the market or has to have a prototype, professionalism in the young entrepreneurs has to be seen.
According to Prarthana who is our, another panelist she told the three basic things that were helping her and had the main concern during these three years of time were team members, finance, and supporters. She stated that finance, team members, history in terms of the background of the products and marker situations, support system (eco-system) government supports, mentors are very important. As the mentors can always direct the way and support us in the journey. The question answers session had questions like managing funds for the startups, funds size, fund size settlement, the success in the idea, what sorts of mistakes to avoid, what idea pitching does the entrepreneur has to have were discussed. The suggestion Prarthana gave for entrepreneurs was to have clarity within the external environment (legal clarity, security concerns (legal, cyber), market environment, competitors) and internal environments (partner’s/ team members, financial safety or backup, Agreements and contracts). The questions regarding the post-crisis of Covid19 and how to initiate plans and ideas with corporate funding and FDIs for startups were discussed.
In order to break the ideal Job Mentality, the stereotypes have to be broken by encouraging the new students helping them gain more realistic information on how the startups work added Mr. Neupane. Mr. Khanal and Ms. Saakha gave brief information on their journey and connected their expertise and experience with the clear concept of entrepreneurs. The panelists also shared how the necessary steps can encourage the acceptance of our ideas among family members. The questions raised on the necessity of job experience before startups and what sort of government help is required to create a vibrant environment of startups? What survival plan has to be made for the post-crisis of external environment? How to differentiate between realistic and unrealistic plans? Etceteras were made even more clear by Mr. Khanal.
In the end, students appreciated and thanked the panelists, moderators, and all the participants for their enthusiastic participation in making the sessions very fruitful. Mr.Kul Prasad Pandey sir the program director of MBM gave a vote of thanks at the end of the session. As while looking forward to more of such interactive and useful events in the near future the session was ended.