Nepal needs visionary entrepreneursNext Growth Conclave 2018, one of Nepal’s largest entrepreneurs conference took place in Soaltee Crowne Plaza, Kathmandu on Saturday.
Next Growth Conclave 2018, one of Nepal’s largest entrepreneurs conference took place in Soaltee Crowne Plaza, Kathmandu on Saturday. The conclave was organised with the idea that mentorship, press push up and grant from business people in the country is necessary to encourage the emerging start-ups in the country. The conference had 13 Nepali and international speakers who talked about their start-up journey and discussed various ways to grow professionally as an entrepreneur. Alongside the speakers, the event also included discussion sessions which were grouped under blocs such as Startup Valley, Media Lounge, Investors Lounge and Venture Blend. After the success of the third iteration of Next Growth Conclave 2018, the Post caught up with five of the global speakers—CEO of christyng.com Christy Ng and its co-founder Lim Boon Tien, Founder and CEO of iHub, Senior Director of Topica Edtech Group Bobby Liu and Founder and CEO of India Network, Rahul Narvekar—for a roundtable interview.
Co-founder and CEO, christyng.com
The start-up scene in Nepal looks promising. Having met so many budding entrepreneurs in the Conclave, I can say that the future of Nepal is in the right hands. I was particularly impressed by Gorkha Asthetics, one of the participants in the conference. The founder was a visionary, he had all the right questions to ask for his business. I was thoroughly impressed by his exposure and his strong background research. At the same time, I realised that some entrepreneurs lacked assessment and vision. It’s completely fine to have dreams but to make that dream turn into reality, you really need to buckle up and create a wholesome and robust strategy for business. You can’t just have global aspirations and talk big—you need to have a vision.
Founder and CEO, iHub
Start-ups are driven socially in Bhutan and they are minting profits through their projects and organisations by being invested in social causes. Coming from South Asian region, the social cause is something both Nepal and Bhutan can resonate to. Conclave like this helps us connect with future entrepreneurs, learn their ideas and find the best investors for the prospective business ideas. An event like this will help entrepreneurs expand their knowledge and learn from one another and eventually get exposed to international markets as well. It also helps the entrepreneurs to communicate the social causes the fellow entrepreneurs are invested in.
Senior Director, Topica Edtech Group
I think Nepal has a lot of scope in the tourism sector that can be aptly capitalised by the Nepali entrepreneurs. At the conclave, I met few entrepreneurs who were into online travel portals, but sadly they didn’t have any concrete plan and their ideas too were mundane. So, when I asked, “What’s your unique selling point?” They didn’t have an answer —which is very troubling. The government is working on Visit Nepal 2020 and there are ample opportunities to tap into it. For instance, if you want to divulge into tourism, I believe you at least need to have good connections with 60 percent of the Sherpas and other tourist guides. This example works for the other sectors too. You need to know what, where and how you are getting into. If you can’t pitch your ideas and don’t have a unique selling point, how can you make investors believe in you and your ideas?
Founder and CEO, The India Network
As a speaker for such conclave, I sometimes blame myself for saying follow your passion. In order to follow your passion, you need to have a goal—passion isn’t everything. You need to be smart, moreover, you need to be street smart and be constantly updated with what’s happening around you. You need to go through failures and be prepared for it because every success story has gone through their own ups and downs. It’s good to dream big but you need to be ready with your basics at least. Not everyone is made for business and entrepreneurship. You need to have conviction and a vision to make your company successful.
Lim Boon Tien
The Growth Conclave is a huge platform for Nepali entrepreneurs. But it was unfortunate to see that apart from very few entrepreneurs, most of them lacked vision. You need to have a concrete plan before coming out with something, especially when you are building a business. What I have realised through my conversations with them is that the budding entrepreneurs cannot sustain their business due to lack of self-realisation. You need to reflect on your thoughts and ideas thoroughly. It is important to have a strategy to sustain the business rather than just implementing an idea. It is good to see young people getting into entrepreneurship but they need more focus and a strong plan.