The Industrial Enterprise Development Institute (IEDI) with Impact Hub Kathmandu (IH KTM) as a technical partner, through its Business Incubation Center (BIC), launched a transformative Business Incubation Program on 4 December 2024 with the aim to empower entrepreneurs across Nepal. Out of 41 applications received, 10 startups and MSMEs (Micro, Small, and Medium Enterprises) from diverse sectors (excluding trading businesses) were selected to participate in a 4-month comprehensive incubation journey running from January to April 2025.
This incubation program was designed to equip participants with essential business knowledge, strategic skills, and a strong support network of mentors and industry experts. By fostering innovation and resilience, the program aimed to strengthen local economies through the development of sustainable, impact-driven enterprises.
Selection & Onboarding
The program opened its call for applications on 4 December 2024 for the startups and MSMEs that are registered and operating nationwide. A two-tier screening process—comprising application review and in-person interviews—was conducted. The final 10 selected enterprises include Fine Cleaning Service Pvt. Ltd, Green Gold Bamboo Pvt.ltd, Gaumukhi Agro Product & Research Centre Pvt. Ltd., Janabhawana Krishi Tatha Pashupanchi Farm, Joint Vision Agricutlture Pvt. Ltd., Malika Kagaj Udhyog, Masta Bhawani Bakhra Palan Byabasaya, Shiva Sanu Bahu Uddesya Krishi Firm and Research Pvt. Ltd, Simrik Awaj Media Pvt. Ltd., Soru Krishi Farm Pvt. Ltd., all representing agriculture, manufacturing, and service sectors.
Strategic Curriculum for Business Growth
The tailored 3-month ideation curriculum includes:
- Monthly Masterclasses (WOOP, Impact Canvas, and Strategic Roadmapping)
- 1-on-1 Business and Financial Coaching sessions
- Visualising and assessing the business and impact.
The orientation and Masterclass 1 (WOOP Model: Wish-Outcome-Obstacle-Plan), led by Impact Hub Kathmandu (IH KTM), guided the incubatees to set SMART goals, assess challenges, and create actionable business strategies by mapping achievable action plans for their enterprise with Key Performance Indicators (KPIs).
In Masterclass 2, participants explored the Impact Canvas, identifying key business elements such as value propositions, customer segments, and stakeholder engagement. This session was heavily focused on providing the key insights to the incubatees. The primary focus was to help craft a strong and impressive business canvas model, especially because they were actively engaged throughout to develop their skills and learnings on designing their own business canvas model, identifying and mapping out essential aspects for their business operations, value creation and stakeholders involved.
In Masterclass 3, they developed Impact Strategies and refined their financial management and investor pitches using the Golden Circle Model (Why. How. What). The Financial Management session focused on following topics:
- Tracking daily income and expenses
- Categorize expenses ( Cost of goods sold, operation cost, personal expense, Tax)
- Calculate the profit (Income, Cost of goods sold, operation cost, Taxable income, Tax, personal expenses and actual profit)
- Controlling personal expenses.
Similarly, the impact strategy pitch focused on developing an elevator pitch of their business using the Golden Circle model. The Golden Circle, coined and explained by Simon Sinek, explains how to use the Golden Circle model to truly differentiate your brand’s value proposition. This model focuses on following things:
- Why we do? Why are you doing this? What’s driving you?
- How we do? Resonate your why with how? How are you making the why happen?
- What we do? What do you deliver to the market? What does the final outcome look like?
1-1 Monthly Business and Financial Coaching
Monthly coaching sessions have helped incubatees analyze their revenue models, operational challenges, and growth strategies, providing them with the tools to build scalable and sustainable enterprises.
With a focus on long-term business viability and local economic contribution, the IEDI Business Incubation Program stands as a model of inclusive and impactful entrepreneurship support in Nepal.
