'Academia Must Take the Lead in Shaping Entrepreneurship'

We took over King’s College in 2011 and launched the MBA in Entrepreneurship program one year later. The idea was simple: Nepal already had resources, but the country needed an entrepreneurial mindset rather than relying solely on government and donor agencies. That was the foundation for starting the MBA in Entrepreneurship.

Looking back, the ecosystem has certainly developed compared to a decade ago, but it has not grown in the way we envisioned. One of the biggest challenges remains a lack of clarity and understanding about entrepreneurship itself. Definitions are still fuzzy—what should truly be called a startup? Too often, even trading businesses are labeled as entrepreneurship, which dilutes the concept.

A healthy ecosystem requires all actors to work together in complementary ways. Government, private sector, academia, donors, incubators and industry associations should each play their part to strengthen one another. Unfortunately, in Nepal, the opposite often happens. Colleges are criticized for underperformance, and then corporates step in to fill the education gap. Then it is again said that Incubators are weak, and the government steps in. Private sector organizations often duplicate existing efforts. Instead of synergy, there is overlap and inefficiency.

This lack of coordination prevents the ecosystem from reaching its full potential. For entrepreneurship to thrive, actors must align and complement each other rather than compete by doing the same things. Without this synergistic approach, the ecosystem remains fragmented, and young entrepreneurs continue to face unnecessary hurdles.

Recently, the government resumed disbursing loans for youth entrepreneurship. But I am not satisfied with this approach. Simply providing loans does not equate to real support. Similar schemes in the past failed to create lasting impact because they lacked proper support systems. Young entrepreneurs need guidance, mentorship and networks, not just direct funding.

Nepal already has resources, but entrepreneurs are the ones who add value to them. That is why academia must take the lead in shaping entrepreneurship. Some argue that entrepreneurship cannot be taught, but I disagree—it can certainly be learned. Networking, culture, environment, processes and experimentation all help amplify entrepreneurial spirit among young people. Education’s role should be to create a support system, not just classrooms.

Teaching theory alone is insufficient. If students learn concepts but do not receive real-world exposure, networks and ecosystem support, their knowledge remains unused. Before Covid-19, startups in Nepal were at peak hype. The private sector organized flashy events and entrepreneurship carried a sense of glamour. In Nepal, adoption of new ideas is fast, but continuation is often weak. True entrepreneurship, however, means creating something new amid uncertainty. It requires patience and persistence. After COVID-19, the hype collapsed, but entrepreneurship is now regaining momentum. The difference today is that people today increasingly understand that success requires hard work, resilience and time.

For the ecosystem to grow further, the government must also act more cohesively. At present, different ministries operate in silos, each running separate projects. What is needed is an integrated mechanism—a unified institution to coordinate policies, funding, and support for entrepreneurship. Without this, fragmentation will continue to slow progress.

This opinion article was originally published in September 2025 issue of New Business Age Magazine