Dr Prativa Pandey, Founder and CEO of Herveda Botanicals, called for a rethinking of entrepreneurship—not as a solo pursuit, but as something deeply rooted in the broader ecosystem.

Delivering a keynote address at the Nepal Entrepreneurship Forum, which began in Kathmandu on Saturday, July 26, Pandey said, “Entrepreneurship is often glorified as a solo act, but success is not built in isolation. How high we fly is not determined by the wings of one company—but by the winds of the ecosystem around it.”

The event was jointly inaugurated by Prof Satyajit Majumdar, Managing Director of the TISS Incube Foundation in Mumbai; Dr Pandey; and Ken Shimizu, FAO Country Representative for Bhutan and Nepal. The two-day forum concludes on Sunday.

Drawing from her work in Nepal’s medicinal and aromatic plants (MAPs) sector, Pandey described structural gaps in the value chain that forced her team to innovate in both processes and products—always in response to contextual needs. “It wasn’t enough to innovate in a vacuum,” she said. “We had to adapt to regulatory barriers, raw material constraints, and skill gaps in rural areas.”

She also stressed the foundational role of trust in fragile entrepreneurial environments such as Nepal. Reflecting on her return to the country in 2015, she recalled the challenge of building credibility as a woman and a scientist entering the business landscape.

“In ecosystems like ours, trust is not a by-product—it is the foundation,” she said. “Herveda’s partnerships are not built on contracts alone, but on shared learning, collaboration, and long-term commitment.”

On the subject of growth, Pandey warned against the rush to scale prematurely. She emphasised the need for internal preparedness, pointing to Herveda’s bootstrapped beginnings, where she led across design, finance, and production.

“Growth has tested my endurance more than any academic qualification ever could,” she said. “But today we’re expanding into new verticals, scaling operations, and preparing to engage hundreds of farmers and collectors.”

Understanding the value of the ecosystem, investing in trust, and being growth-ready are essential to building a sustainable business, she concluded.

Organised by King’s College—one of Nepal’s leading institutions in entrepreneurship and business education—along with its research wing CERAD in association with New Business Age, the international conference, now in its second edition, focuses on building a sustainable entrepreneurship ecosystem. It will feature over 25 speakers from Nepal and abroad, according to the organisers.

The two-day event aims to bring together academicians, entrepreneurs, policymakers, and other stakeholders to discuss sustainable entrepreneurship.

Minister Warns Against Concentration of Entrepreneurial Gains in the Hands of a Few

Earlier, in a message to the forum, Minister for Industry, Commerce and Supplies Damodar Bhandari urged businesses to adopt inclusive practices by involving women, marginalised communities, and youth, while promoting fair labour conditions.

The minister cautioned that entrepreneurship cannot lead to sustainable development if its benefits are concentrated in the hands of a few.

“Entrepreneurship in Nepal must move beyond traditional profit-making models to address broader economic, social, and environmental goals,” the message read. “The dream of a prosperous Nepal cannot be fulfilled by relying on imports or external assistance alone. It will only be realised through homegrown enterprises.”

Highlighting the importance of innovation, digital tools, and local value chains, Bhandari stressed that economic sustainability requires building resilient businesses capable of generating long-term value and employment.

“The government is committed to ensuring policy stability, easing business registration procedures, and facilitating access to capital,” he said.

Addressing environmental concerns, the minister called for a transition to a circular economy and praised enterprises like Herveda Botanicals, which utilise Nepal’s biodiversity for sustainable production. He hinted at possible government incentives and tax exemptions for environmentally responsible businesses.

“The world is facing a severe climate crisis, and geographically sensitive countries like Nepal are at high risk. But within this crisis lies opportunity,” Bhandari said, adding that green businesses could contribute to both environmental protection and local economic empowerment.

He further outlined key policy initiatives, including the National Startup Enterprise Policy, 2080, Startup Enterprise Loan Operating Procedure, 2081, and upcoming legislative reforms aimed at encouraging investment and innovation.

This news has been updated.