Developing entrepreneurs

FROM ISSUE # 194 (February 2012) | IN THIS ISSUE
	REFER TO FRIEND		PRINT THIS ARTICLE

Among the many problems facing Nepal, one of the biggest ones is the mass exodus of our youth, for studies and more and more commonly these days, for employment. While we are not lacking resources or the potential to develop sectors such as agriculture, bio-diversity, culture, rivers and tourism, what we do lack is the entrepreneurial spirit. The major challenge the country faces today is the apathy, indifference and lack of pride displayed by its youngsters. We are a patriotic lot and have a lot of youth who are borderline chauvinistic about Nepal, but ask them what their future plans are and the majority will state that all they are waiting for is the opportunity to leave the country for foreign shores. It is very easy to live in the US or Europe or Australia or any other place in the developed world with electricity 24 hours a day, unlimited water supply, well-maintained roads and hospitals and complain and moan about the lack of those very things back home. It is quite another to study, whether here or abroad, and put into practical action those theories and ways of working by creating new businesses that in turn will create jobs, increase employment and make money.

It is with this in mind that King's College introduced an exclusive Masters program on Entrepreneurship for the first time in Nepal. In this program, students will learn to identify a potential business, develop a business plan, arrange finance, set up the business and make sure that the business is sustainable.

Narottam Aryal, the Director and Principal has this to say, "The basic motive behind this program is to   create entrepreneurial cadres in the country; produce job creators, not merely job seekers, while spreading the message that there are ample opportunities in Nepal especially among Nepalese youth."
So who can register for this course? Eligible candidates could range from entrepreneurs, family business successors and professionals who want compact yet comprehensive managerial skills, to motivated mid-career executives ready to take the next step in their careers as entrepreneurs or corporate entrepreneurs and also business professionals from backgrounds such as marketing, operations, law, human resources, IT and consultancy.

On successfully completing this 15 month course, candidates are awarded a Masters in Business Administration in Entrepreneurship from International American University, USA.

To  start a business, as there is no venture capital in this country, one needs collateral to apply for bank loans which inhibit many Nepalis who have brilliant ideas and the passion to start something on their own, but can't just because they don't have anything to put in the bank as collateral. King's College wants to be instrumental in bridging this gap for their students. "We provide three scholarships to aspirant young entrepreneurs who are from outside Kathmandu and are willing to work outside the valley after graduation. We arrange bank loans to set up a business against the institutional guarantee of the College, and also hold their hands for the first two years. Through this we aim to develop a cadre of entrepreneurship who will appreciate, and add value to the local resources," expounds Mr. Aryal.

He adds, "People are hesitant to work in the field of agriculture these days, but we wish to motivate educated youths to work to modernize, commercialize the agro-sector, and generate businesses which would add value to our local resources rather than promoting imported contents. We aim at instilling the entrepreneurial spirit in the youths of grassroots levels. Therefore, we are working on reducing the cost of the program so that a common Nepali youth would be able to benefit out of it." 

King's College is also designing a diploma program which a Plus Two pass out can join. This will enable small business entrepreneurs, especially those from outside the valley, to learn how to expand and improve businesses that they have started, inherited or are planning on starting.  This program will operate under the auspices of the Entrepreneurship Development Center, an entrepreneurial initiative of King's College.