KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.

The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.

According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.

A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS