[{"id": 396094, "created": "2024-06-05T08:08:09.407248", "project_id": 193, "task_id": 453518, "user_id": 300, "user_ip": null, "finish_time": "2024-06-05T08:09:54.431641", "timeout": null, "calibration": null, "external_uid": null, "media_url": null, "info": {"answer": "In 2020-21, the government created an Rs500-million start-up fund to issue loans at 2 percent interest to encourage innovative entrepreneurs hit by the pandemic. The 2021-22 budget had provisioned a Rs1-billion fund to help start-ups. Under the scheme unveiled by the government, a firm would receive up to Rs2.", "data_id": "6731074ef69dfe1d6bc4e82d70423c97", "category": "business", "question": "What is the startup program in Nepal?", "answer_URLs": "https://kathmandupost.com/money/2023/08/28/government-makes-more-promises-to-help-start-ups", "answer_type": "partial", "input_query": "Startup Nepal", "is_reliable": "very_reliable", "edited_answer": "The government is once again making tall promises to re-energise the start-up ecosystem while nearly a dozen policies and programmes intended to support new firms are gathering dust, analysts said.\n\nSpeaking at the Start-up Nation 2030 on Monday, Minister of Industry, Commerce and Supplies Ramesh Rijal reiterated that the government was working on policies and legal frameworks to uplift fledgling companies.\n\n\u201cWe are working on several projects such as idea-based funding and subsidised loans for entrepreneurs and returnee migrant workers,\u201d Rijal told the two-day conference in Kathmandu. \u201cA new start-up policy will also come into effect soon.\u201d\n\nEntrepreneurs say they have heard that before. Eight years ago, the government had announced in its budget statement for fiscal 2015-16 that a Rs500 million fund would be established to groom start-ups and innovators.\n\nAgain in 2019-20, the government had announced a cash subsidy of up to Rs5 million for promising new businesses. It then started preparing a work procedure, but that got nowhere.\n\nIn 2020-21, the government created an Rs500-million start-up fund to issue loans at 2 percent interest to encourage innovative entrepreneurs hit by the pandemic.\n\nThe 2021-22 budget had provisioned a Rs1-billion fund to help start-ups. Under the scheme unveiled by the government, a firm would receive up to Rs2.5 million for seed capital at 1 percent interest without collateral, if the proposed project was convincing.\n\nIn the last fiscal year, the Department of Industry had invited start-ups to submit proposals for subsidised loans. Participating start-ups were promised loans of up to Rs2.5 million at 3 percent interest.\n\nThe selection process was abandoned halfway after the government suffered financial problems itself.\n\nStart-ups say they have stopped believing the lofty proclamations as they appear to be no more than political stunts.\n\nAmid this cynical mood, the Start-up Nation 2030 conference kicked off on Monday to foster the start-up ecosystem in Nepal.\n\nThe campaign launched on July 25 last year with a goal to make Nepal a start-up-friendly country, help establish 10,000 start-ups, and create 100,000 jobs by the end of 2030.\n\nThe campaign was initiated jointly by the Ministry of Industry of Industry; Federation of Nepalese Chambers of Commerce and Industries (FNCCI); PUM Netherlands Senior Experts; International Centre for Integrated Mountain Development (ICIMOD) and Antarprerana.\n\nThe University Grant Commission also joined the campaign this year.\n", "question_type": "good", "location_related": "yes"}}]