Enterprise is looking for applicants to be a part of its Nepal Business Accelerator Programme after successfully concluding the second batch of companies in their accelerator programme. As the first business accelerator of its kind operated by the private sector in Nepal, Enterprise is looking for companies to help them fine-tune their business models, raise funds from investors and move to the next level of business growth.

The second batch of the programme attracted huge interest from over 400 companies, out of which, only six were selected to be given the opportunity to be a part of the accelerator programme. Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vox Lab were the six companies selected in the second batch where they underwent a 12-week mentorship programme.

The six selected companies got an opportunity to work with some of the leading industry experts in the country to reassess their business models, realign their vision and objectives, plan their finances, get legal consultation and ultimately develop internal resources to target a high level of growth. The companies also attended various investor networking sessions and pitched their businesses to a select group of banks, angel investors, venture capital funds and private equity funds on the Demo-Day, reads a press statement.

Half the selected companies have already received investment averaging 80 lakhs, while the remaining half have received term sheets from investors are in the final stages of negotiation, according to the press release. 

Enterprise batch three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The applications close on 31st June 2017.

Ajay Shrestha, Programme Director at Enterprise added, “In Nepal, a lot of Small and Medium Size Enterprises (SMEs) do not have access to technical and financial resources to grow. A business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors.” 

Enterprise is looking to create an ecosystem for Venture Capital and Private Equity investment to thrive, through which companies, investors and the entire economy can benefit from the growth of SMEs. In order to be eligible to apply for this programme, companies need to have been in operations for at least three years, be seeking investment, and have a dedicated team to take their companies to greater heights, reads the press statement.  The Nepal Business Accelerator Programme is managed and funded by True North Associates, an Investment, Consulting, and Management firm based in Nepal. It was initiated by Nepalese Young Entrepreneurs’ Forum in partnership with Centre for Creation of Economic Wealth at the University of Oklahoma.