Govt to provide ‘innovative’ entrepreneurs up to Rs 5 million grant

Kathmandu, February 21

The government is soon launching a programme targeting ‘innovative’ entrepreneurs who would develop some high-quality inventions or system by utilising the new technology and limited time and resources. As per the plan, the government will give each of them up to Rs five million as a grant.

Earlier, the government had announced to launch such a programme in its annual budget plan for this fiscal year. A working procedure to implement the announcement has now been finalised in the eighth month of the fiscal year.

The working procedure will let the government give an entrepreneur up to 50 per cent amount of the total investment. However, the grant amount should not exceed Rs five million.

The Ministry of Finance will form a committee to select the grantees. Another committee will facilitate grant distribution. The grant will be provided in three instalments: the first after beginning the enterprise, the second based on the progress, and the third after completion of the project.

React to this post


New Old Popular