Understanding Startup
FAQs about startup and reasons to apply for one.
A startup is a newly established business driven by innovative ideas or technology, aiming for rapid growth and scalability.
The term "startup" originated in the 1970s to describe newly established companies with innovative ideas and high growth potential. It gained traction during the technology boom of the 1990s.
Startups are rooted in entrepreneurship and innovation, aiming to develop unique products or services to address market opportunities. The world's first startup cannot be pinpointed to a specific company but encompasses various ventures across industries.
In Nepal, the startup ecosystem has been evolving since the mid-2010s, fueled by globalization and technological advancements. Despite challenges like limited funding, entrepreneurial activity has surged, especially in sectors such as e-commerce and fintech.
Globally, startups are gaining popularity due to their innovative ideas and opportunities for entrepreneurship. In Nepal, the rise of startups aligns with a growing appreciation for locally-made products and offers new opportunities amidst challenges in traditional job markets.
Nepal needs more startups to foster innovation, create jobs, stimulate economic growth, and address societal challenges. Startups inject dynamism into the economy, promote entrepreneurship, and reduce the reliance on seeking opportunities abroad.
Startups in Nepal face challenges such as skills shortage, limited access to funding, gaps in the support system, cultural obstacles, and financial strain on operations.
If you have a promising business concept but need financial support, Start First offers pre-incubation assistance to refine your idea and strategize effectively. Our incubation program provides workspace, mentorship, networking, and potential funding avenues. While funding isn't assured, we assist in perfecting your pitch and connecting with investors.
Start First offers programs such as Impact First, Urban Lifestyle Innovation, Corporate Accelerator, Stage-Specific, Diversity and Inclusion, and IT Innovation programs tailored to Nepal's startup landscape.
To join Start First, you can fill out an inquiry form detailing your business concept and investment needs on our website. Our team will assess your application, and if you meet our criteria, you will proceed to the next steps of the incubation process.
You can fill out this Startup Application Form.
After joining Start First, successful applicants undergo pre-incubation support, including skill development workshops and mentorship sessions. Startups that successfully complete pre-incubation move on to our tailored incubation program, gaining access to workspace, technology infrastructure, mentorship, networking opportunities, and funding assistance.
While we strive to support startups with funding assistance, it's important to note that funding is not guaranteed. We facilitate connections with potential investors and assist startups in refining their business models and pitch decks to increase their chances of securing investment.
Yes, we welcome volunteers who are passionate about supporting startups and entrepreneurship. You can reach out to us to inquire about volunteer opportunities and how you can contribute to our mission.
You can fill out this Volunteer Application Form.
Yes, we offer programs tailored to high school and university students interested in entrepreneurship. These programs may include workshops, mentorship sessions, and competitions aimed at nurturing entrepreneurial skills and fostering innovation among students.
Startup Founder: If you're the one who came up with the idea and started a new business, you're a startup founder. You're focused on getting your startup off the ground.
Entrepreneur: An entrepreneur is someone who doesn't just start one business but might be involved in starting several ventures or projects. They're always looking for new opportunities and ways to innovate.
A pitch deck is a presentation used by entrepreneurs to pitch their startup to investors. It typically includes slides summarizing the business model, market opportunity, product or service, team, financial projections, and investment needs.
Start First Incubator is a specialized platform based in Kathmandu dedicated to fostering the rapid growth of startups and early-stage companies. It operates its incubation program through the Start First Incubation Center located in Kathmandu.
Start First Incubator primarily supports early-stage startups, often lacking a defined business model, by offering workspace, mentorship, technical assistance, and access to investors. It aids in raising capital from various sources like angel investors, government organizations, and venture capitalists. Typically, Start First Incubator operates on a fee-based model rather than taking equity from the startup.
Most startups associated with Start First Incubator are engaged for periods ranging from six months to two years.
Start First Incubator selects startups based on specific criteria, including having a unique and innovative business idea, a viable business model, a committed team, and a well-defined market opportunity.