14th February 2024 – The Nepalese young Entrepreneurs’ Forum (NYEF) in collaboration with ILO-SALE
Project organized The National Business Idea Competition on February 14th at the Everest Hotel Kathmandu, marked a significant milestone in fostering entrepreneurship and innovation.

Out of a pool of 250 applicants, the top 20 were selected for intensive mentoring, culminating in a pitching competition where the top 7 emerged as the standout finalists.
The rigorous selection process began with the screening of 250 applicants, from which the top 20 were
carefully chosen for an immersive mentorship program. These aspiring entrepreneurs received guidance
and support from seasoned mentors to refine and enhance their business ideas.
The pinnacle of the competition was the pitching event, where the top 7 finalists presented their innovative concepts in front of a distinguished panel of judges. The judges, comprising industry experts
and thought leaders, evaluated each pitch based on criteria such as creativity, feasibility, and potential
impact.

The event’s chief guest, Bahadur Singh Lama, Bagmati Province Minister of Economic Affairs and Planning
lauded the initiative and emphasized the importance of nurturing entrepreneurship for economic growth.

The winners of the National Business Idea Competition were:
1. Kanduk Industry – Winner of the National Business Idea Competition, receiving a cash prize of Rs.
50,000 NPR along with other exciting in-kind prizes.
2. Eco-revive – First runner-up, awarded a cash prize of Rs. 15,000 NPR and additional in-kind prizes.
3. Straw Mattress – Second runner-up, securing a cash prize of Rs. 10,000 NPR and other in-kind  prizes.

`This competition not only recognized exceptional talent but also served as a platform to foster collaboration, innovation, and the spirit of entrepreneurship. The success of the event reinforces its role
in shaping the future of business in our nation´, organizer said .