Government to Set Up Nepal Enterprise Facility, Allocates Rs 4 Billion for Science and Innovation

Kathmandu — Finance Minister Dr. Swarnim Wagle has announced various plans and allocations for the startup and innovation sector through the budget.

Wagle said a Nepal Enterprise Facility will be established as a platform to integrate startups and small and medium enterprises into the national enterprise ecosystem. He said the platform will advance, in an integrated manner, enterprise-related policy provisions, the identification of and access to new financial instruments, a support network with incubation, and a domestic enterprise campaign.

The Finance Minister said startup facilities will be provided to one thousand young entrepreneurs wishing to start agricultural and livestock enterprises.

He said the necessary funds have been allocated to run a research, innovation, and entrepreneurship enhancement programme to provide young scientists the opportunity to conduct research within the country.

Wagle said funds have been allocated to establish an observatory centre at the Everest Base Camp to promote astronomical tourism.

The Finance Minister said a total of Rs 4 billion has been allocated for science, technology, and innovation, and Rs 500 million for the Nepal Enterprise Facility.