Rs 2.56 billion invested in startups in Koshi Province

Kathmandu, Jan 6: The Nepal Rastra Bank (NRB) has stated that Rs 2.56 billion was invested for startups in the Koshi Province.A special study report carried out by the central bank revealed this figure of investment in the startup businesses. The entrepreneurs from 21 to 70 years of age were engaged in startups, it is said. Of the total investment, the volume of loan is 38.7 percent while 61.3 percent is equity share.

Likewise, people of age group 36-50 years have run the largest chunk of startups with 44.4 percent.

Similarly, 73.3 percent of youth entrepreneurs are engaged in the information technology sector, while the engagement of youth entrepreneurs is lowest in the agriculture with just 21.2 percent.

According to the report, the youths have focused more on the digital and technology sector.

The NRB stated that data were collected from 160 startup businesses from the province shortlisted for credit from the Industrial Enterprise Development Institute.

In the study, five business sectors namely agriculture sector, production sector, tourism, and information technology sectors were covered.

As stated in the study report. 41.3 percent of the startups are related to agriculture, 18.1 percent of production sector, 17.5 percent of service sector, 13.8 percent of tourism and 9.4 percent of the information technology sector.