June 15: Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP).
The programme is designed for companies which have completed three years and are looking to fine-tune their business models, have innovative and dedicated team members to raise funds from investors, and move to the next level of business growth.
According to Ajay Shrestha, Program Director at Enterprise, a lot of small and medium size enterprises (SMEs) do not have access to technical and financial resources to grow. He shares that business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. “By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors,” he says.
Issuing a press statement Enterprise mentions that, it has successfully mentored companies including Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vim Vox in the second batch
"The last batch got an opportunity to work with some of the leading industry experts in the country to reassess their business models and pitched their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day," reads the statement.
As per Enterprise, out of the six participating companies, three have already received investments. “The size of the investment in these companies averages Rs 8 million,” says the company. The other three have received term sheets from investors and are in the final stages of negotiation.
Enterprise Batch Three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The registration of applications closes on 30th June 2017.
Enterprise has been working on developing ecosystem for venture capital and private equity investment in Nepal. This programme, which is managed and funded by True North Associates, an investment, consulting, and management firm based in Nepal, was initiated by Nepalese Young Entrepreneurs’ Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma.