Startups have been hit hard by the COVID-19 outbreak. While many startups have been running with extreme difficulty during this time, many have collapsed as well. Major Industries and Businesses have been feeling the heat of the COVID-19 pandemic. Hence, you can imagine how hard a growing start might have been hit with this unexpected situation. Even well-established companies have found it difficult to cope with this pandemic. There has been worldwide havoc and altering of economies. So, no wonder it has been a tough time for aspiring entrepreneurs and budding startups. It is tough to sustain in the market at this time let alone make progress.
In light of this, there have been efforts globally to support innovative startups by providing them funds or through advertising mediums. For instance, you might have seen the “SupportSmall” campaign on Instagram or high profile figures setting up funds for startups. There have also been efforts from various organizations and government bodies for the same purpose globally.
A Step Towards Promoting The Startup Culture in Nepal
The Government of Nepal has announced a startup grant program for innovative businesses through the National Planning Commission. The eligible industries include ICT, Agriculture, Energy, Health, Tourism, Education, Manufacturing, Transportation, and other Resource Management Oriented Businesses. This is an effort by the Government to help the growing startups in the country to sustain and overcome this period of crisis. It is a really thoughtful initiative in promoting the startup culture and rightly acknowledging innovation. This not only boosts the ambitions of the current startups but also lays a positive roadway for aspiring entrepreneurs.
How to Apply for the Startup Grant?
If you have an innovative startup eligible for this scheme then go on and register through this portal: http://startup.npc.gov.np/
According to the scheme, your startup may receive a minimum of 10 lakh to a maximum of 50 Lakhs if the proposal is accepted. You can submit the proposal within the next 30 days.
So, what are you waiting for? This is the opportunity for you to grow or even save your startup in the wake of the global COVID-19 crisis. If you think that your startup is innovative enough and is eligible for this scheme then be sure not to miss this fantastic shot at getting the funds your startup needs. This is an enormous chance that could be of sizable help to many businesses.