Former Governor of Nepal Rastra Bank Dr. Chiranjeevi Nepal has said that startups and entrepreneurship cannot gain momentum without the government's support. He said that startups need government policy, education and training, banking support.

Speaking at the discussion on 'Economic transformation through innovation and entrepreneurship' at the Nepal Startup and Small and Medium Conference, which started on Wednesday, organized by the Nepali Congress Entrepreneurship and Small and Medium Business Development Department, he said that Nepal should include the subject of entrepreneurship in primary education. He said that government concessional loans should be increased for startups and entrepreneurship.

He emphasized that Nepal should increase credit flow by saying that concessional loans could not go through the central bank. Similarly, Anjan Shrestha, senior vice-president of the Federation of Nepalese Industries and Commerce, said that the private sector was excited after the government brought an ordinance to amend various laws. He said that there is new energy in the businessmen and the government has addressed the demand that has been raised by the private sector for many years. 

There are some inadequate things in the ordinance. We will discuss that matter after the ordinance is tabled", Shrestha said, "We will also present our suggestions. We are hopeful that honorable people will play an important role in that.' 

Manoj Gyawali, Senior DCO of Nabil Bank, said that 90 to 95 percent of startups around the world fail. He told the reality that banks do not invest in startups because they cannot take the risk of business failure. He suggested that startups should look for government resources rather than looking for banks.

If you want to start a startup, start with your savings. If not enough, take it from family members. If that is enough, go to venture capitals. If that is not enough, approach the government. After doing this, the startup will grow and the bank will follow after you.