August 8: Nepal Agribusiness Innovation Center (NABIC) has been established with a view to provide holistic services to support and enhance innovation, growth and competitiveness of agribusiness.

Minister for Agriculture Development Ramkrishna Yadav inaugurated the office building of NABIC amid a function in Kathmandu on August 7. It is believed that the establishment of NABIC will benefit small-scale and middle-scale businesses based on agriculture.                         

NABIC provides intensive business advisory and mentoring support to agribusinesses. It also provides services to selected start-ups and growth-oriented SMEs through structurad yet flexible business growth programme, as mentioned in the company’s brochure.

NABIC has claimed that it is a purpose-driven enterprise incorporated as a ‘company not distributing profits’ under the Company Act, 2006.