CM Karki launches Angel Investors Network

By A Staff Reporter,Kathmandu, Aug. 23: An Angel Investors Network (AIN) has been established in Biratnagar to establish business relationships between those seeking investment and those willing to invest.

Under the leadership of the Chamber of Industries (CIM), Morang, this company has been set up with the slogan "Idea to Impact". The aim is to build a bridge between potential investors and those in need of investment in innovation-based enterprises. 

Chief Minister (CM) of Koshi Province Hikmat Kumar Karki formally launched the company at a special programme organised by the CIM on Thursday, according to its press statement. CM Karki expressed his commitment that the Koshi Province government would join hands to further support this programme, which was launched for the first time in Nepal.

He thanked the CIM for this commendable work, stating that this company, which was established in the backdrop of the provincial government recently organising an investment summit and inviting investors, has reaffirmed the province as an area with great investment potential.

Chief Minister Karki also expressed his commitment to supporting the organisation's Startup and Incubation Programme in the detailed process of identifying startup entrepreneurs in innovation, qualifying them for investment, and presenting them to investors. Also, after watching the presentations of 9 startup companies presented at the programme, CM Karki expressed his commitment to support 9 projects by the Koshi Provincial government. 

He said that the government will facilitate the establishment of a business network for a company called Track on Nepal. Nand Kishor Rathi, the president of the CIM, said that the biggest challenge while working with startups for the past five years has been the lack of financial resources. With the aim of providing long-term support by integrating potential investors, a non-profit organisation called Angel Investors Network has been established, he said. 

He expressed his belief that the network will select investable projects and present them to investors, as well as provide investment opportunities to startups seeking investment, thereby creating a suitable environment for startups to access finance and investors to invest in new businesses. President Rathi said that startup entrepreneurs are not only looking for investment, but also need business experience and network, so the Angel Investors Network will fulfil the need for business experience and network, along with investment. 

Similarly, he clarified that investors will also get new investment opportunities through this programme, making it a win-win for both investors and those seeking investment. Suyash Pyakurel, Coordinator of Biratnagar Angel Investors Network (AIN), said that, although there were concerns about its future when the startup programme was started in the CIM five years ago, hundreds of startup ideas have been successfully incubated in a short period of time due to the increasing number of supporting hands. 

He added that, as it is difficult for small-scale, especially first-generation startups, to raise investment, the AIN will provide funding and business services to ideas with such potential. He said that some investors have formed an investment fund of Rs. 20 million in the first phase and have invited interested investors to join the AIN.