KU will invest over 100 million in 28 latest ideas

Nov 06, Kathmandu- Kathmandu University is going to invest 100 million rupees for the project with the latest ideas. The incubation center established by KU and the Energize Nepal program with the support of the Norwegian government will invest for the promotion of various businesses with the latest ideas.

40 million rupees allocated by Energize Nepal under the assistance program from innovative idea to business will be provided to turn the latest idea related to energy (innovative idea) into business only and under this, if all Nepali citizens can apply, 1 crore will be made available to turn ideas in other fields including energy into business. Under this, only students, employees, departmental employees and others affiliated with KU will be able to apply. According to KU, 28 innovative ideas will be supported by the project at Rs 5 lakh each. For the program, the University Grants Commission has provided Rs 1 crore and Energile Nepal has provided Rs 40 lakh to KU.

Dr. Bijay Thapa, project manager of Energize Nepal, informed that the investment application can be made from today-Tuesday and although the time to apply is set for 31st December, it is arranged to invest the investable project within two weeks after the application is submitted. "We have started the program with the aim of promoting business and business based on innovative thinking, creating jobs through it and creating opportunities for students and those who want to invest through it and contributing to the country's economy", He said, "Investmentable proposals will be evaluated within two weeks, and if their project is investable, they will receive immediate assistance".

Thapa informed that if the proposed project is not investable, technical assistance will be provided to them. KU has also formed a three-member committee to evaluate the proposal and make a decision. Under KU, Incubation Center has invested 10, Energize Nepal 8 and Nepal Technology Innovation Center 10 different innovative ideas. They have invested especially in energy, agriculture, health and technology sectors. According to Energize Nepal, more than 200 people have been directly and indirectly employed through this project. Manager Thapa informed that the program has progressed to re-invest the profits from the invested amount based on the latest thinking.

KU established the Incubation Center in 2015 with the aim of attracting students and others to industry and business, creating jobs and contributing to the economy. Energize Nepal is a program run by the Norwegian Embassy for study, research and innovative projects with the support of the Norwegian government. KU, Hydro Lab, NTNU and SINTEF are partners of Energize Nepal, while KU has been managing it. Under this, it is aimed to provide financial and technical support for capacity building and to encourage business. The Norwegian government has promised to provide 51 million NOK, i.e. about 650 million Nepalese rupees, for the project under this project.