KATHMANDU: The Confederation of Nepalese Industries (CNIYEF) and The Startup Network Nepal are jointly organizing a 24-hour Startup Hackathon on November 5 and 6 with an aim to develop start-up entrepreneurship in Nepal, encourage innovation and connect potential enterprises with investment opportunities. The hackathon will be held at Kathmandu World School.
The main objective of this hackathon is to identify innovative business concepts, technology-based solutions and startups with the potential to expand in the market and provide them an opportunity to reach out to investors and entrepreneurial stakeholders. The participating teams will refine their business concepts within a limited time and present them to the jury along with solution potential, business model, market needs and expansion plans.
The best three startup teams will be selected from this program. The selected teams will get an opportunity to present their business concepts to investors, mentors and entrepreneurs in the next phase.
The hackathon aims to not only identify great ideas but also connect those ideas with investment, mentorship, and business networks needed to convert them into sustainable businesses.
Early-stage startups in Nepal have been facing challenges such as access to investment, opportunities to establish themselves in the market, and lack of experienced mentors and business networks. In such a situation, the hackathon will provide an opportunity for entrepreneurs to test their solutions, improve business concepts, and reach out to potential investors.
The collaboration between CNIEF and The Startup Network Nepal is expected to encourage young entrepreneurs and contribute to the development of an innovation-based entrepreneurship culture in Nepal. Specifically, the hackathon will streamline the task of identifying talented entrepreneurs, providing them with a competitive platform, and connecting them with investment prospects.
The Startup Hackathon will be an important platform for entrepreneurs looking to build the potential business of tomorrow to turn their ideas into opportunities. It is believed to accelerate the identification and development of investable startups in Nepal and further strengthen the entrepreneurial ecosystem of the country.
Interested startups and innovators can apply through the registration provided by the organizers.
