GROWTHX Everest- Accelerator Program for High Potential Tech Startups and SMEs in to be Launched in Nepal
Wed, Dec 7, 2022 3:33 PM on Featured,
GROWTHX Everest- a first of its kind accelerator program to be launched in Nepal
Team Ventures, Confederation of Nepalese Industries (CNI), Confederation of Nepalese Young Entrepreneurs Forum (CNIYEF), and Startup Réseau India have collaborated to launch GROWTHX Everest- an accelerator program for high potential Tech startups and SMEs in Nepal.
The objective of this program is to bring about a tech entrepreneurship-led economic development in Nepal, that will contribute towards creating a flourishing digital economy, local knowledge-based jobs, reduce talent drain, increase exports and attract valuable foreign direct investment in the economy; thereby increasing Nepal’s economic competitiveness in the regional and global markets.
GROWTHX Everest is a hybrid structured accelerator program, for high-tech and high-potential tech startups from Nepal, enabling the founders through a journey of scaling up, global expansion, and fundraising. The 16-20 weeks program is being jointly set up by Team Ventures, Startup Réseau in partnership with the Confederation of Nepalese Industries (CNI) and Confederation of Nepalese Young Entrepreneurs Forum (CNIYEF) will be open to founders operating their ventures from Nepal. The program will offer mentorship from international industry leaders, domain experts, successful founders, and investors and help establish industry connections, international networks, peer community, and more that will help in building a thriving tech startup ecosystem in Nepal.
Startup Réseau and its leadership team have nurtured over 800 startups in past nine years through boot camps and accelerator programs, directly impacted the creation of 12,100 net new jobs, helped startups raise in excess of $400 Mn, established 40+ corporate-backed accelerators and innovation jobs and helped generate more than $13Mn in revenues, grant, and sponsorships.
“As an investor, our real challenge has always started right after we have issued our first cheque. Helping companies execute their strategic initiatives, improve their operations, and gain the right market access which are all prerequisites to a growing business. Founders in Nepal find it difficult to navigate all these challenges, with this initiative, we are attempting to support founders with the right interventions to upscale their businesses and we are delighted to have partners like Start-Up Réseau, CNI, and CNIYEF in the process. Says CEO and Founder, Tenzin Sonam Gonsar of Team Ventures
“GROWTHX Everest is a different initiative from the existing accelerator programs running within Nepal as it focuses on cross-border mentorship, networking, and expansion for tech and small businesses which would normally be difficult to access for them in a structured way. Says Prachi Agarwal, President of CNIYEF
Says Ajay Ramasubramaniam, Founder & CEO, Startup Réseau, “There are several emerging markets in the UN designated global South-South, with at-least one city having a population in excess of 5 Million. This is where innovation is going to thrive, and economic development will be led by first-generation entrepreneurs. We are excited to be here in Nepal, and partner with like-minded organizations to build out market-relevant startup programs. Having explored the market over the past few months by speaking with entrepreneurs and other stakeholders, we are keen to work with high-potential entrepreneurs and help them scale locally, regionally, and globally.”
