May 19: Madan Lamsal, chairman of New Business Age, said that startups have contributed a lot to the country's economy.

Inaugurating the NewBiz Startup Summit and Awards 2023, Chairman Lamsal said that startups are taking root in Nepal as well.

“Some startups have reached the stage of issuing shares to the general public. It has contributed greatly to the country's economy,” he said.

Lamsal said that this award program was also organized to prevent brain drain at a time when 3300 young people are leaving for foreign employment every day.

“Some good startups could not come in contact with us. The best startups from among those who came are being honored,” he said, adding, “We have been honoring startups since 2017. Before this programme, we also provided training for startups. Everyone participated enthusiastically.”

This year, awards are being given to eight start-up companies.

The summit and awards programme is supported by Sastodeal.com, Laxmi Bank, Shikhar Insurance, Citizen Life Insurance, National Life Insurance, Rigo, Nexon EV Max, and City Express. Similarly, Nepal Rastra Bank, the Federation of Nepalese Chamber of Commerce and Industry, Nepal Insurance Authority, Nepali Patro and Dishome Fiber Net have also supported the awards program.

New Business Age has been organising various award programs. The company has been selecting and awarding the best management colleges and companies since 2013. Since 2019, the company has started honoring women entrepreneurs. New Business Age had organized the New Biz Business Conclave and Awards programme in November.