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Of late, business incubation support in Nepal’s startup ecosystem has received widespread attention from various sectors. This trend involves startup networks, national and international development agencies, government bodies at all levels, industry associations and other stakeholders. These groups are collectively striving to cultivate entrepreneurial mindsets among young people through initiatives such as startup festivals, competitions, pitch sessions, seed funding opportunities and the like. These initiatives are helping early-stage ventures receive timely support to navigate the risks and challenges of producing market-fit products. 

However, there is a notable absence of academia in the startup ecosystem in this evolving startup landscape, especially in the business incubation support stage, which raises significant concerns. Fostering critical thinking and innovation has traditionally been a core function of academia, yet it seems to struggle to take the lead in the incubation and ideation domain. This prompts reflection on whether the division of responsibilities within this ecosystem is being approached effectively. 

Unintentionally, these practices can lead to blurred roles and responsibilities, creating confusion rather than effectively leveraging individual areas of expertise. Academia’s role should focus on helping students develop critical thinking skills, identify problems and guide them toward the ideation stage. Once ideas are incubated, the industry, development agencies and government bodies can step in to accelerate these concepts, each contributing their unique perspectives and resources. 

Academia in Nepal often lacks a proactive stance toward incubation support programs—some might even label it “non-reactive.” Academic leadership usually appears disconnected from Nepal’s startup ecosystem, yet boldly claims that their educational programs will shape the entrepreneurs of tomorrow. This disconnect highlights an urgent need for academic leadership to rethink and realign their approach to actively contribute to the startup ecosystem. However, does this lack of unawareness and inactivity justify academia relinquishing half of its responsibilities to other entities? In a landscape where NGOs, INGOs and development agencies are leading research efforts and the industry is taking charge of incubation support, one might wonder: where does this leave academia, and how can it assert its relevance in this evolving context? 

Some academicians believe there is a lack of clear distinction between incubation and acceleration, leading to confusion regarding the division of roles. They further suggest that academia should focus less on directly participating in the incubation stage and instead prioritize creating and disseminating knowledge. The primary reason all sectors are heavily engaged in the incubation stage is their desire to build their own pipelines of potential startups for future investment. Accelerators and investors face challenges in finding viable startups to invest in, prompting them to intervene directly at the incubation stage. For example, academic institutions could conduct research to assess whether industry involvement in incubating startups contributes to scalability, evaluate existing policies and analyze their impacts on the startup ecosystem. 

Other academics offer a contrasting perspective that the active involvement of non-academic actors in the incubation stage stems from a lack of trust in the quality of academia’s work and the students it produces. This trust gap reflects a significant disconnect between industry and academia, with industry stepping in due to concerns over the preparedness and capabilities of graduates. 

A thriving entrepreneurial ecosystem, particularly for startups, can only emerge when all actors play to their strengths, understand their roles, adopt a collaborative mindset and share resources with the collective goal of uplifting one another. Currently in Nepal, everyone is competing for the same opportunities without realizing that they are all competing for a single, finite pie rather than working together to expand it. This raises a critical question regarding whether the enthusiastic yet uncoordinated scrambling of activities creates genuine, meaningful and long-lasting impact, or are these efforts merely excuses for allocating CSR budgets and safeguarding established funding networks? 

A leading example of academia and industry collaboration in this domain in our region is from IIT Madras, India, which has successfully created a collaboration model between academia and industry through its incubation cell. This initiative effectively connects research, innovation and entrepreneurship, fostering a sustainable startup ecosystem within South Asia. The model at IIT Madras promotes innovation through dedicated research labs, specialized entrepreneurial courses and programs such as the Nirmaan pre-incubation program, which helps students and researchers refine their ideas, develop prototypes and prepare them for the market. Building on the initial incubation support, the IIT Madras incubation cell partners with industry leaders to offer startups access to funding, mentorship and state-of-the-art facilities. The cell supports ventures across various sectors, including clean energy, healthcare and deep tech. As a result, over 240 startups have been nurtured and raised approximately $145m in funding. Success stories like Ather Energy (an electric scooter company) and Detect Technologies (industrial safety solutions) highlight the program’s impact. The ecosystem has generated over 4,000 jobs, contributing significantly to regional economic growth and social development. 

As a way forward, academic institutions can collaborate with key actors in the startup ecosystem—such as accelerators, government agencies and industry—to co-design a framework that ensures seamless collaboration and value transfer. For instance, academic institutions can actively generate startup ideas, leveraging faculty expertise and internal resources to mentor and refine these concepts. This approach  will also help the industry save valuable time and resources during the incubation support stage. Once the ideas are pitched, accelerators/industries can further develop them using their specialized resources. If the ideas fail to meet real-world market standards, the industry can step into the academic space to provide upskilling and capacity-building opportunities for academia while guiding students on advancing. 

This collaborative framework will not only foster synergy among all stakeholders but also advance the value exchange framework between industry and academia.

The Nepali Army (NA) has addressed a letter sent to the United Nations by Devi Sunuwar, mother of 15-year-old Maina Sunuwar, who died from torture in army custody during Nepal’s armed conflict. Speaking at a press conference, Brigadier General Om Bahadur Bhatta of the Judge Advocate General’s Department (NA’s legal wing) stated that he did not understand why the Sunar family was still pursuing legal proceedings after a court ruling had already been made.

In a letter addressed to the UN Department of Peacekeeping Operations, Devi urged Jean-Pierre Lacroix, Under-secretary general for Peacekeeping Operations, to urge the NA to demonstrate its commitment to truth, justice, and non-recurrence.

“The NA may argue that these officers already faced a court-martial on 8 Sept 2005 regarding my daughter’s killing. But let me be clear: a) under international human rights law, crimes against civilians should not be handled by a military court; and b) the court-martial only addressed improper interrogation techniques and improper body disposal,” she wrote.

“I do not understand why Sunuwar’s family is still pursuing legal action, claiming the verdict was either too lenient or too harsh,” Bhatta said. “The way the verdict has been obtained from the district court and the way pressure is being exerted at the national and international levels, it is unclear what their objective is.” At that time, under the Army Act 2016, the military court had jurisdiction over this case, and a decision had already been made, he added.

On 17 Feb 2004, a team under the command of Nepali Army Major Niranjan Basnet took 15-year-old Maina Sunuwar from her home in Katunje, then Kharelthok VDC-6, Kavre. She later died due to extreme torture by military officers. Her remains were found eight months later following pressure from national and international human rights organizations.

Brigadier General Bhatta stated in the press conference that the resolution of this case is expected to happen through the Truth and Reconciliation Commission (TRC). “At present, there is the TRC, and its law has already been enacted,” he said. “If the commission is formed, maybe it will say something about this matter.” Since the case is under consideration at the Supreme Court, he refrained from providing further details, saying, “That is a matter for the TRC; the issue of jurisdiction comes under that. If tomorrow the TRC addresses it, it will be resolved from there.”

Later in 2004, the military court sentenced three army officers—Boby Khatri, Sunil Prasad Adhikari, and Amit Pun—to six months in prison and a one-year promotion ban for violating human rights and humanitarian laws in the Maina Sunar case.

However, dissatisfied with the military court’s ruling, Maina’s mother, Devi, filed a complaint against four officers at the Kavre District Police Office on 6 Dec 2005. After Nepal’s peace process began, a case was filed against four military officials on 21 Jan 2008 in Kavre District Court. On 17 April 2017, the court sentenced three army officers to life imprisonment for extrajudicial killing. It acquitted Basnet. This was the first case in which Nepali Army officials were convicted of a crime committed during the decade-long armed conflict that began in 1996.

The High Court upheld the ruling, but the NA appealed it to the Supreme Court. Khatri, Adhikari, and Pun are no longer in the army.

Devi informed the United Nations that some army officials had contacted her and proposed building a memorial in honor of her daughter. While she supports a memorial in Maina’s memory, she stated in her letter that she could not accept it unless certain conditions were met.

Major General Prem Dhoj Adhikari, head of the Department of Military Operations, clarified that no formal proposal had been made by army headquarters. “Rather, I heard discussions that if the issue could be resolved at the municipal level, a memorial could be built at an initiative of the mayor of Panchkhal in Kavre.”

Major General Adhikari also mentioned that the army does not have land for building the memorial and that the initiative was taken at the local level by the mayor. “The army does not have land for this; I think the mayor took the initiative to see if this could be resolved at the local level,” he said.

Although he acknowledged hearing about the letter sent to the United Nations, he stated that since the state has already enacted the TRC law, the issue should be resolved through it.

The recent inclusion of Nepal in the Financial Action Task Force (FATF) 'gray list' presents both immediate challenges and opportunities for systemic reform for Nepal.

The FATF Plenary that concluded in Paris on Friday decided to include Nepal and Laos on the list. This follows the Asia Pacific Group's mutual evaluation report which identified significant deficiencies in Nepal's anti-money laundering framework.

“In February 2023, Nepal made a high-level political commitment to work with the FATF and Asia Pacific Group (APG) to strengthen the effectiveness of its anti-money laundering and combating the financing of terrorism (AML/CFT) regime,” the FATF said. “Since the adoption of its mutual evaluation report in August 2023, Nepal has made progress on some of the actions recommended in the report, including streamlining mutual legal assistance (MLA) requests and increasing the capabilities of the Financial Information Unit (FIU).”

The APG's third mutual evaluation report of 2023 had highlighted various weaknesses in Nepal's anti-money laundering and counter-terrorism financing controls. FATF has been evaluating the status of any country in controlling money laundering and terrorism financing based on 11 effectiveness indicators and 40 technical indicators. FATF has concluded that Nepal has not been able to demonstrate full effectiveness in any of the 11 prescribed effectiveness standards. According to APG's latest report, Nepal has not been able to achieve full or substantial progress in any of these 11 indicators.

The gray-listing could have far-reaching implications for Nepal's economy. International financial institutions now onwards are likely to implement enhanced due diligence measures for transactions involving Nepali entities. This can affect trade financing and remittance flows which are  very crucial components of Nepal's economy. Likewise, the country might face increased transaction costs and delayed processing times for international transfers. More importantly, this could deter foreign investment at a time when the country is seeking to attract international capital for its development projects. The increased perception of risk could lead to higher borrowing costs and more stringent lending conditions in international markets.

The FATF, however, has provided Nepal with a clear, albeit challenging, pathway to exit the gray list by January 2027. The seven-point action plan encompasses comprehensive reforms, from enhancing public awareness about money laundering risks to strengthening technical compliance in preventing terrorism financing, improving risk-based supervision of commercial banks, higher risk cooperatives, casinos, dealers in precious metals and stones and the real estate sector, and demonstrating identification and sanctioning of hundi operators.

Suman Dahal, the director general of the Department of Money Laundering Investigation, says Nepal has already begun addressing these challenges. “Instead of getting entangled in many small financial crimes, we will now focus on major crimes. We will work by setting thresholds for this purpose," he added. 

The focus appears to be on three critical areas: improving investigative capacity, increasing prosecutions of financial crimes and enhancing asset seizure mechanisms. One noteworthy intervention is the preparation to implement new technological solutions, including KYC software and integrated data management systems. These technological upgrades, if successfully implemented, could significantly improve Nepal's ability to monitor and prevent financial crimes.

The success of Nepal's efforts will largely depend on its ability to translate plans into action. The country's previous experience with the gray list (2010-2014) should provide valuable lessons for implementing sustainable reforms rather than quick fixes.

The real measure of success will not merely be exiting the grey list but establishing a robust, transparent financial system that can effectively prevent and combat financial crimes. This could position Nepal as a more attractive destination for international investment and trade in the long term.

As a decor enthusiast, you are always on the hunt for something novel to add to your house. Perhaps you want a new centerpiece for the dining table or you think your living room walls could use something else besides that lone clock and the painting you have had for years. Sometimes, you suddenly get the urge to replace the vases around the house with something spectacular. Come to think of it, you need new planters as it’s time to repot your green babies. But where can you find decor items that aren’t mundane and don’t cost an arm and a leg? This is where you might be stumped. Here is a carefully curated list of places where you can pick up some super interesting things for your home. 

Toit Studio

This ceramics studio, located in Sanepa, Lalitpur, has an interesting range of vases, planters, plates, mugs, jugs, and bowls and trays that you can use in the kitchen or bathroom, among other things. There are a variety of shapes and sizes available, and they are really aesthetic. Most of the things you find here are stuff that you might have seen on Pinterest. Pick a piece or two to change the look of your space. The good thing is that the price range is affordable. But they don’t accept cards so make sure you have digital payment or cash with you when you go there. 

Sana Hastakala

Founded in 1989 and backed by UNICEF then, Sana Hastakala is an NGO that empowers marginalized communities through traditional skills and modern techniques. It’s a treasure trove of Nepali handicrafts. From rugs and table runners to felt shoes, slippers and more, there’s a lot of good stuff here. The prices, we feel, are cheaper than other handicraft stores in Kathmandu. The quality of the products is top-notch. The outlet is located in Jhamsikhel, Lalitpur near the Army Chief’s residence and it’s open from Sunday to Friday from 10 in the morning to six in the evening. We recommend going with a friend as you might need help deciding what to buy as there’s just so much to choose from. 

Deego Nepal

Deego Nepal is a sustainable lifestyle brand founded in 2019. They avoid plastic in their products which are crafted from eco-friendly materials like bamboo by women in Bardiya, Dang, and Kapilvastu. They have meticulously woven baskets, trays, placemats, and coasters among other things. All this can add a touch of rustic charm to your decor. Consider replacing your regular stools with bamboo stools from Deego Nepal to infuse nostalgia and warmth into your space. The items might be a little on the pricier side but considering their quality and that they are mostly handmade it’s justified. They have a physical outlet at Bhanimandal, Lalitpur, but you can also buy their products online or from different concept stores and marts in the city. 

Kamakhya Decor

A lot of stores customize furniture pieces these days. You can show them a photo of the design you want and they will be able to replicate it for you. Kamakhya Decor in Naxal, Kathmandu, is a good place to do that. They have a range of fabrics, colors, and materials to make all kinds of items according to your needs. They will also do it for cheaper than most places. There are some readymade items at the store if you need to replace something at home and can’t wait. But they will make your order in a week or less so even that shouldn’t be a problem. They have a range of cabinets, side tables, racks and other functional but pretty things. 

Masta Kala

The company was founded in 2018 with an aim to create unique, functional products that resonate with people’s emotions. It draws inspiration from Nepal’s rich cultural heritage. You get a range of elegant home decor items at Masta Kala which is located at Sanepa Chowk in Lalitpur. You can also personalize items like key holders and name plates among other things. Be warned though, a trip to Masta Kala can leave your purse lighter as you will want to buy everything you see. The store is pleasing and makes shopping a relaxing experience. 

Pia Nepal

If you don’t want to hunt around for the perfect piece that can be a focal point in your home, and don’t mind spending a little more for it, Pia Nepal could be your option. An artisanal luxury brand, it has everyday items like lamps, bowls, and wall hangings that can lend a regal vibe to your space. The items are carefully created to feel like a special piece and you can see perfection in the details. We feel their products, however small or big, add a subtle charm to our spaces. It’s about an understated elegance that you won’t get anywhere else.