Challenges Remain Despite Significant Participation of Women in Startups

KATHMANDU. Executive Director of the Industrial Enterprise Development Institute, Umesh Kumar Gupta, has stated that while women's participation in the startup sector is remarkable, challenges still persist.

Speaking at an interaction program titled "Women in Startups: Opportunities, Challenges, and the Way Forward," he informed that with the approval of the Startup Policy 2081, legal provisions have been made through the Industrial Enterprise Act, and the loan procedure has been implemented according to the Appropriation Act 2081.

According to him, in 2080/81, 1,658 individuals applied for startup loans, and 165 received them, of which 48.69 percent were women entrepreneurs. 

In 2081/82, the number of applicants tripled, and 600 people received loans, but women's participation decreased and was limited to 38.43 percent. Similarly, in 2082/83, the share of women receiving startup loans stands at 31.8 percent.

Director Gupta mentioned that concessional startup loans have made it easier for women to start and expand businesses, noting that even individuals returning from working abroad are being attracted to entrepreneurship.

Pointing out the need to expand such programs to all seven provinces, he informed that the government is also making special plans to promote the traditional occupations of the Dalit community.

He stated that the government will conduct entrepreneurship development training in every local level and has allocated an annual budget of 1 billion rupees for this purpose. "It is a positive thing that citizens are receiving loans to start startups from the resources collected by the state; this is also contributing to job creation," he said.

According to him, starting from this Magh, the government will form a separate team to study the progress of the startup program. Additionally, Gupta informed that the government aims to promote 10,000 startups and create 100,000 jobs by 2030 (BS).