NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Ennovent is launching the Nepal Innovation Challenge to enlist partners to address opportunities for sustainable impact in Nepal. Organisations are being invited to express their interest to jointly develop, fund and implement Innovation Solutions that take novel business ideas to low-Nepal’s GDP growth has been around 6% since 2004 and this upward trend is expected to continue into 2016. However, with limited income generating opportunities, Nepal continues to be heavily dependent on public sector jobs, grants and remittances. The growth of the private sector has been bottlenecked by barriers in the ecosystem, which hamper the flow of financial and non-financial assistance.

Innovation Solutions help to discover, start up, finance and scale business innovations for sustainability. They accelerate innovations for different elements of for-profit business models, which relate not only to products and services, but also to business processes, distribution channels, partnership networks, Partners shortlisted to collaborate with Ennovent will receive a range of benefits. The Ennovent team will contribute technical expertise to accelerate business innovations. A close group of investors and donors will offer funding opportunities for Innovation Solutions. An exclusive global community of experts, mentors and service providers can be accessed to provide additional expertise and services.

“Ennovent is delighted to launch the Nepal Innovation Challenge which will enlist partners to bring business innovations from across the globe to low-income markets in Nepal,” says Tapas Neupane, Country Manager – Nepal, Ennovent. “Through this, partners will be able to tap into an opportunity to accelerate innovations in Nepal and create lasting social, environmental and economic impact,” he adds.