Kathmandu, December 23, 2018: Yunus Social Business Center, King’s College signed Memorandum of Understanding (MOU) with Kathmandu Model College Network, Orchid International College, Samriddhi College, and Koteshwor Multiple College respectively . The MOU will jointly facilitate youths with ideas to help them shape their ideas into commercial and sustainable venture through “Business Incubation Program” at Yunus Social Business Center, King’s College.
The duo parties will work together to promote entrepreneurship among the youths in their respective college to conceptualize, produce and design the start-ups with a potential to scale and create employment for more youths inside the college as well as outside of the college. King’s College has created a platform promoting youth entrepreneurship among the college youths. Kathmandu Model College created seed fund of NRs. 10, 00,000 (Ten Lakhs), Orchid International College created seed fund of NRs. 100000(One Lakh ) and at the same time Koteshwor Multiple College and Samriddhi College created seed fund of NRs.50,000(Fifty Thousand) as a startup fund for their own students to continue with the mission.
During the MOU signing,, Narottam Aryal, King’s College Executive Director, represented Yunus Social Business Centre, King’s College and Surendra Subedi, Principal, represented Kathmandu Model College.Besides, Mr. Naresh Prasad Shrestha (CEO), Mr. Bidur Dahal( Principal), Mr. Mahendra Bahadur Pandey( Chairperson) signed on behalf of Samriddhi Education Foundation, Orchid International College, and Koteshwor Multiple College respectively. The respective colleges’ representatives shared their views about educational and entrepreneurial innovation in Nepal “Education needs to be innovative rather than stagnant. Along with students, teachers should also be exposed to the outer world. Once the teachers become skilled and innovative, it takes much less time to develop innovation quality in the students. And this collaboration between the colleges will open doors to numerous opportunities in the coming days”, Aryal added.
“Colleges in our country should focus on partnering among the country’s educational institutions. At the time when the college is flexible for only profit partnership instead of innovative partnership, we are hopeful that this MOU will be exemplary to other colleges as well to promote entrepreneurship among the students in their colleges ”, Subedi said. Likewise, Dahal also articulated on creating business opportunities within our country. Shrestha too focused on creating a healthy entrepreneur ecosystem which consequently will decrease immigration of the Nepalese youths for employment.
As per the MOU, Yunus Social Business Centre, King’s College will offer 10 weeks business incubation program for all the students of the colleges signing the MOU. However, Yunus will also provide business incubation support program to selected students of other colleges. The program will facilitate, support, help, and guide them shape their ideas into commercial venture. Moreover, Yunus Centre will also help the students connect with mentors, industry professionals, and build support system. Both the parties will conduct seminars and workshops to create entrepreneurial mindset among the youths.
Nanda Kishor Mandal, Head of Yunus Social Business Centre, King’s College, congratulated all the parties for trusting each other. “We will hard work with honesty and perseverance in the days to come promote healthy entrepreneurship and purse the shared mission of creating youths led ventures. We are working to sign MOU with other colleges as well in the days to come”, he further mentioned.