Idea Studio inaugurated the first-of-its kind business incubation centre at the Kathmandu University School of Management (KUSOM) recently.

The centre provides a platform for innovators and experts from academia, the private, technical and development sectors, to work together to transform innovative ideas from Nepali citizens across the world into socially-conscious successful businesses.

Idea Studio is the joint initiative of UNICEF, Kathmandu University, Childreach Nepal and Meeting Point. It is an innovative concept in its own right which includes a competitive search for new ideas with the nurturing acumen of professional business experts.

“The hope, aspirations, and entrepreneurship that the Idea Studio can generate, along with solutions to the development challenges the country currently faces, we believe, will encourage more young Nepalis to stay and invest their skills and ideas in their own country,” said Mr. Tomoo Hozumi,

UNICEF Representative to Nepal. “This venture may well be considered a benchmark helping to shape a truly new Nepal.”

Beginning August 2014, Idea Studio launched a competition which resulted in applications from more than 600 Nepali citizens worldwide with a range of ideas in the field of agriculture, education, information technology and tourism. A total of 35 of the most creative business ideas were selected for mentorship at the incubation centre.

“The state-of-the-art incubation centre provides participants with theoretical and technical business skills that help them develop their models into reality,” said Mr. Rupesh Krishna Shrestha, Assistant Professor at KUSOM. “Professors from KUSOM will provide participants knowledge on finance, marketing, business development. Such skills will enable participants to pitch their ideas to potential investors.”

“To further enhance the appeal of the Idea Studio initiative, the selected innovators will go on to present their innovative ideas to business leaders in a nationally televised reality show. Ideas that are chosen for investment from business leaders and financial institutions on the television show will be further developed and nurtured towards successful implementation,” said a press release issued by Seetashma Thapa, External Relations Manager, Childreach Nepal.