Govt introduces ‘National Startups Policy, 2080’ to boost startup investment

Kathmandu: The government has introduced the ‘National Startups Policy, 2080’ to bolster investment in startup companies. This policy, recently adopted by the Council of Ministers, encompasses several key provisions aimed at facilitating entrepreneurship and innovation.

Under the policy, startups will benefit from waivers on costs associated with registering businesses and industrial properties. Additionally, entrepreneurs will receive various supports, including seed money, human resource development, consultancy, technical assistance, and export incentives.

Furthermore, startups will enjoy an income tax waiver for the first ten years post-establishment. Banks and financial institutions are mandated to provide loans at reduced interest rates to startups, with a requirement to invest a specified percentage of their lending into startup enterprises.

Moreover, the policy will establish a special fund to nurture new and innovative ideas, offering additional subsidies on loans for startups and innovative projects. This comprehensive framework is poised to create a conducive environment for startups to thrive, fostering economic growth and job creation within the startup ecosystem.