- NewBiz Report

n the evening of Friday, July 5, a diverse group of women entrepreneurs and business leaders assembled at the Soaltee Kathmandu as the New Business Age celebrated the success and achievements of Nepali women entrepreneurs by honouring the country's most exceptional and emerging female entrepreneurs and their accomplishments.

The fourth edition of the 'NewBiz Business Women Summit & Awards' recognised the extraordinary achievements of Nepali women entrepreneurs across six categories. The event celebrated those who have shattered glass ceilings, pioneered innovation, fostered sustainable growth and made impactful contributions to their respective industries. New Business Age Pvt Ltd has been organising the awards since 2021 as one of its flagship events. The fourth edition featured a distinguished audience, including prominent government officials, policymakers, corporate leaders, economists and other notable guests.

Shyam Badan Shrestha, a trailblazing women entrepreneur, was honoured with the ‘Lifetime Achievement in Woman Entrepreneurship’ award. She founded the Nepal Knotcraft Center with a modest investment and transformed it into a company which now employs 300 women and logs annual turnover of up to Rs 10 million. Another successful woman, Moushumi Shrestha of Shree Kisan Innovation Hub, was declared the ‘Best Woman Entrepreneur’ for her significant contributions to establishing the Shreenagar Agro Group, which helps farmers produce crops using modern technology.

Likewise, Rita Pokharel, the Director of InDrive, a ridesharing company was honoured with the 'Professional Woman of Excellence' award. Pokharel has been instrumental in setting up InDrive operations in Nepal as well as lobbying with the government to grant legal status to ride-sharing services.

Similarly, Vedika Murarka, Co-founder of Educase, won the 'Pioneering Social Entrepreneur of the Year' award for spearheading the women-led social enterprise that brings one-of-a-kind solution to help students in marginalised communities of Nepal - a school bag that folds into a desk for children to have a comfortable study space at home and school. Sonika Manandhar, co-founder of Aloi, received the 'Woman in Tech' award. Aloi is a Kathmandu-based fintech company that supports informal micro-entrepreneurs in Nepal by helping them overcome difficulties in accessing formal financing for their businesses.

Similarly, one recipient each from the seven provinces was awarded the 'Emerging Enterprising Woman of the Year'. The recipients included Maya Gurung of Chandan Fibre Udyog from Koshi Province, Sunaina Thakur of Sunaina Arts in Dhanusha from Madhesh Province, Sapana Sapkota of Bella Casa in Kathmandu from Bagamati Province, Gita Nath of Karnali Garment Udyog in Kaski from Gandaki Province, Gita Kumari Koiri Maurya of Banke Poultry Farm in Banke of Lumbini Province, Bhumisara Tomata of Shramajivi Masala Udyog in Surkhet of Karnali Province, and Savitri Ojha of Green Mountain Krishi Bikas Firm in Dadeldhura of Sudurpaschim Province. The award carried a purse of Rs 51,000 each.

The winners were selected by an independent jury of experts. Radhesh Pant, a former CEO of the Office of Investment Board Nepal, chaired the judging panel, which included Dr. Ajay Ghimire, Basanti Pradhan and Urmila Shrestha. The panel selected the recipients based on factors like compliance with rules and laws, contributions to the economy and social impact, background and social reputation, innovation and use of technology, as well as recommendations from various organisations. In her welcome speech, Sabita Subedi, Director of Operations and Finance at New Business Age Pvt Ltd, emphasised the importance of encouraging and respecting the work of women entrepreneurs. Subedi mentioned that financial literacy and entrepreneurship training were provided to women entrepreneurs in all seven provinces as part of the event. According to Subedi, New Business Age offered specialised training on financial literacy and entrepreneurship to nearly 300 women entrepreneurs in Butwal and Nepalgunj in the run-up to the event.