KOICA and The Bridge International successfully organized an entrepreneurship competition for returnee migrant workers. The ‘Returnee Innovators Showcase’, funded by the Korea International Cooperation Agency (KOICA), took place on February 7 at Square Hotel in Lalitpur, Nepal.

This event was a part of KOICA’s "Project for Strengthening Stage-Wise Support System for the Stable Reintegration of Korean Returnee Migrants in Nepal", also known as "K-HaMi (Korea-Happy Migration) Project." The event marked the conclusion of the "Returnee Innovators for Nepal (RIN)" program, implemented by The Bridge International, reflecting on its one-year journey and culminating in a business pitch competition with nine exceptional participants from the program. The RIN program includes basic entrepreneurship training in Korea, advanced training in Nepal, incubation support, and a business competition.

Since 2022, KOICA has invested a total of $8 million in this initiative, providing step-by-step capacity-building support in employment and entrepreneurship to assist Nepali migrant workers from pre-departure to post-return reintegration. Additionally, the program offers startup financing and business incubation for participants who successfully complete the training. The KOICA K-HaMi project is carried out in partnership with Nepal’s Ministry of Labour, Employment and Social Security, EPS Nepal Center, Agriculture Development Bank (ADBL), The Bridge International, Korean Federation of Community Credit Cooperatives (KFCC), and MY Social Company (MYSC).

The event was attended by notable figures, including Ambassador of the Republic of Korea to Nepal, Mr. Tae-young Park; Joint Secretary of Labour, Employment and Social Security, Nischal Raj Pandey; and KOICA Nepal Office Country Director, Moo-heon Kong. Around 150 representatives from Nepal’s entrepreneurship ecosystem also took part in the event. Ambassador Park stressed the significance of entrepreneurship in his opening speech, urging returning migrant workers to apply the skills they gained in Korea to boost economic development in Nepal. Joint Secretary Pandey commended the program's impact and its contribution to enhancing Nepal’s entrepreneurial environment.

During the event, top participants from the RIN program showcased their refined business models, which were developed through an extensive entrepreneurship capacity-building program. They also shared success stories of how they applied the skills, knowledge, and expertise gained in Korea to launch their own businesses upon returning to Nepal. Five outstanding entrepreneurs were chosen as winners, with Mr. Santosh Dahal claiming the Grand Prize (1st place), Mr. Dil Bahadur Tamang securing 2nd place, and Mr. Rajendra Basyal taking 3rd place. The winners, along with other top entrepreneurs, received business development funds, including a matching fund of up to NPR 5 lakh (KRW 5 million) as seed capital.

Over the past 15 years, the Korean government has designated Nepal as a priority development partner, providing support for various initiatives aimed at promoting entrepreneurship and economic growth. In honor of the 50th anniversary of diplomatic relations between Korea and Nepal in 2024, the Korean Embassy released a book featuring the success stories of 26 Nepali entrepreneurs who returned from Korea. The publication is intended to motivate returnees to leverage their experiences and technical skills to establish successful businesses in Nepal.

The Government of Nepal is actively promoting entrepreneurship to create jobs and drive economic development. Through the establishment of startup guidelines and policy frameworks, Nepal is further supporting new businesses. Collaboration with Korea, which has experience in fostering entrepreneurship, is expected to boost Nepal's economic growth. KOICA and The Bridge International recently hosted an entrepreneurship competition to support migrant workers in becoming future innovators in Nepal.