Entrepreneurs shortlisted for Nepal’s Startup Business Loan Program have begun presenting their business plans, marking a key phase in the initiative launched to support emerging businesses. The nationwide call for applications, issued on August 27 last year, attracted significant interest from aspiring business owners.
The Industrial Business Development Institute (IBDI), which manages the program, received 5,161 project proposals for the fiscal year 2024/25. Of these, 1,314 applicants were shortlisted and must submit detailed business plans by March 24.
“The shortlisted entrepreneurs have started presenting their business plans as part of the selection process,” said Umesh Kumar Gupta, Executive Director of IBDI. The government aims to provide loans to 600 startups this fiscal year.
Launched in FY 2023/24, the program is a collaboration between IBDI and financial institutions, ensuring startups receive the necessary funding. An agreement has been signed between IBDI and Rastriya Banijya Bank for loan disbursement, with additional security provided by the Deposit and Credit Guarantee Fund.
For the current fiscal year, the government has allocated Rs 1 billion to the program. Entrepreneurs can receive up to Rs 2.5 million in funding to scale their ventures. Last year, 1,658 proposals were submitted, with 1,183 entrepreneurs recommended for loans. So far, 165 startups have successfully secured financial assistance.
As part of the evaluation, entrepreneurs must showcase innovation in products, services, production processes, or distribution methods. Their business plans must also detail target customers, raw material supply chains, infrastructure needs, employment potential, and the projected number of jobs their ventures will create after receiving funding.
